INX Limited announced today that the Securities and Exchange Commission (SEC) has approved its Form F-1 filing in connection with its initial public offering of up to 130 million INX security tokens.
The Form F-1 is the official statement filed by foreign companies to register additional securities as well by private companies that are trying to go public through an initial public offering.
The Gibraltar-based company has set its offering price at $0.90 per token with a minimum investment of $1,000. The offering is expected to begin on August 25.
According to the announcement, INX plans to use a portion of the net proceeds from the offering to continue developing and operating INX Trading Solutions, an initiative working towards the trading of blockchain assets like cryptocurrencies and security tokens.