Astrid Intelligence PLC (AQSE:ASTR) has put in place an “at the market” share sale agreement while signalling plans to seek a US listing.
The company said it had issued 575.2 million new shares to Oak Securities, which will look to sell them in the market when conditions allow.
Proceeds, net of commission and fees, will be returned to Astrid. The shares are expected to begin trading on the Access segment of the Aquis Growth Market around 12 September.
Astrid also said it expects to meet the requirements to apply for its shares to trade on OTC Markets in the United States.
Olivia Edwards, executive chair, said: “Whilst we are very pleased to put the at the market facility in place, with the company’s shares currently trading below net asset value, we have no intention to raise equity capital at current share price levels.
"We are focused on enhancing shareholder value as we grow our crypto treasury and we will seek to use the ATM in times of more buoyant market conditions.”
She added that management was also considering non-dilutive finance and saw an OTC listing as a way to broaden the company’s appeal to international investors.