Israel Salmen, CEO of Meliuz, the first Latam-based bitcoin treasury company, announced that the company is in the final stages of listing its stock on U.S. markets, without issuing new shares.
Brazilian Bitcoin Treasury Company Meliuz Ready to List Stock on U.S. Markets
Meliuz, the cashback company that became the first Latin American and Brazil-based bitcoin treasury company ( BTC), is aiming to expand its target audience. The company decided to go forward with an expansion aimed at making its stock available to U.S. investors, boosting global visibility for the company’s operations.
Israel Salmen, CEO of Meliuz, broke the news on social media on Friday, stating that the company was “in the final stages” of achieving a listing on OTCQX Market in the U.S., and that it could be available for trading in four weeks.
Explaining the terms of this development, Salmen declared:
The operation will not involve the issuance of new shares or any fundraising. As part of this listing, market makers may acquire existing shares of the Company on B3 (Brazil) and make them available for trading in the United States through a dedicated ticker – to be announced – denominated in U.S. dollars.
The company added that to qualify for this inclusion, “companies must meet high financial standards, adopt good corporate governance practices, maintain consistent disclosures, and be in compliance with American securities laws.”
Meliuz’s move to the U.S. happens after the company reaches a milestone, accumulating nearly 600 BTC since its pivot as a BTC company back in May. The company is now in the green with its purchase, scoring 595.67 BTC in its treasury with an average purchase price of $103,864.38.
Share prices shot up after the news, as investors considered that U.S. markets would be interested in Meliuz’s offer even when several companies, including Michael Saylor’s Strategy, are also following a similar Bitcoin accumulation plan. Share prices rose by nearly 10%, showing confidence that U.S. investors would be receptive to Meliuz’s proposal.
Read more: Meliuz Becomes the Largest Bitcoin Treasury Company in Latam With Latest Purchase