Key Takeaways
- BitGo plans to raise up to $201 million by selling 11.8 million shares, potentially giving the company a valuation of $1.9 billion.
- The company intends to use the funds for working capital, product development, and potential acquisitions.
Crypto custodian BitGo is seeking to raise as much as $201 million through the sale of 11.8 million shares, which could give the company a valuation of $1.9 billion, according to a new SEC filing.
The offering, which includes 11 million shares sold by the company and additional shares from existing stockholders, will take place on the New York Stock Exchange, where the firm plans to list under the ticker symbol BTGO.
BitGo plans to use proceeds for working capital, product development, and potential acquisitions or investments.
The company recently received conditional approval from the Office of the Comptroller of the Currency (OCC) to convert its state charter into a federal charter, enabling it to operate under a unified set of federal regulations nationwide.
Source: https://cryptobriefing.com/bitgo-seeks-1-9b-valuation-nyse-ipo/
