Kopalnie Krypto Team - Monday 17 April 2023
Chia Network announces filing for IPO with SEC
On April 14, 2023, Chia Network announced that it had confidentially filed a draft registration statement with the U.S. Securities and Exchange Commission (SEC) using S-1 Form. The Company's objective is to conduct its initial public offering of shares.
This process, also known as IPO, will enable Chia Network to become a public company by issuing new shares and selling them on the stock exchange. Currently, the size and price range of the proposed offering have not been determined yet. It is expected that the first public offering will take place after the SEC verification process, which will consider various conditions, including market conditions.
Attaining the status of a reporting public company by Chia Network will make it more transparent in terms of regulations. The company believes that this will help distinguish Chia Network as a company from Chia coins functioning as commodities. It will also provide significant benefits for potential investors, who will gain protection ensured by the American stock market.
