Argo Blockchain, a UK-listed Bitcoin Mining organization, recently announced that they had confidentially applied a draft Registration Statement on Form F-1 to the US Securities and Exchange Commission to acquire secondary listing in the US. Argo Blockchain has now revealed that the request is currently undergoing the SEC review process. Argo specified in the application that the initial public offering would use American Depository Shares (ADS) Method.
The proposed offering details are expected to be out by the third quarter.
There has not been any announcement of a determined quantity and price brackets of the IPO so far. The proposed offering details are expected to be out by the third quarter, once the SEC is through with the review process. The Press Release stated, “Argo Blockchain, a global leader in cryptocurrency mining, announces it has previously confidentially submitted a draft Registration Statement on Form F-1 with the US SEC relating to a proposed dual-listing and initial public offering of American Depositary Shares representing its ordinary shares in the country.
Major crypto firms are going public.
Several known names in crypto have gone public in 2021, and the number is only growing as the year has progressed. Apart from Argo Blockchain, the largest cryptocurrency exchange in the U.S, Coinbase went public with the ticker COIN via a direct listing on Nasdaq earlier this month. It was also reported earlier, Circle the USDC stablecoin issuer is also set to make a public debut on Nasdaq later this year at $4.5 billion valuations. Crypto exchange Bakkt went public with a blank-check firm VPC Impact Acquisition Holdings, last year. Cryptocurrencies have gained a lot of mainstream exposure this year as bitcoin touched its all-time high of nearly $65,000.