BlockChain Innovations, an international blockchain technology supplier serving the regulated gaming industry, has signed a letter of intent with Capricorn Business Acquisition for its qualifying transaction to go public in Q3 2018.
FMI Capital Advisory, a sister company to Toronot-based investment group Foundation Markets, has been engaged to act as an exclusive financial advisor to BCI and FMI has been engaged as a financing agent to complete a capital raise via private placement.
The raise will target strategic and institutional investors, and the net proceeds will be used to invest in the company’s technology and product development, marketing and brand awareness, and working capital.
The planned transaction will make BCI the first on-blockchain wagering public company to serve the regulated and player-to-player gaming industries in the UK, Europe, United States and gaming jurisdictions worldwide.
BCI’s CEO Matt Stafford said: "With the United States sports betting market opening and the go-public transaction set for the third quarter, BCI can bring its gaming-by-design blockchain technology to several regulated gaming markets.”
