BlockChain Innovations planning to go public

BlockChain Innovations Corp. (BCI) has announced plans to go public in the third quarter of this year.

The company, which provides blockchain technology to the gaming industry, has signed a letter of intent with Capricorn Business Acquisition for its qualifying transaction.

The move will make BCI the first on-blockchain wagering public company in the world to serve the regulated and player-to-player gaming industries in the US, UK and jurisdictions worldwide.

FMI Capital Advisory will serve as the exclusive financial advisor to BCI and has also been engaged as a financing agent to complete a capital raise via private placement.

BCI said it will target strategic and institutional investors, with net proceeds to be used to invest in technology and product development, as well as marketing and brand awareness, and working capital.

Matt Stafford, chief executive of BCI, said: “With the US sports betting market opening and the go-public transaction set for the third quarter, BCI can bring it’s gaming-by-design blockchain technology to several regulated gaming markets.

“I want to extend a sincere thank all our investors for making this milestone in BCI’s history possible.”

BCI will announce further details of the go-public transaction in due course.

Related article: BlockChain Innovations names Stafford as CEO