Uplist Series Part V: Recent Examples of Uplists From The OTC [Guest Post]
Below are four recent examples of uplists from the OTC that represent the diverse paths from the OTC Markets to a senior exchange.
Blink Charging Co. — Uplist with underwritten public offering
Blink Charging Co. a leading owner, operator, and provider of electric vehicle (EV) charging services, finalized its Uplist to NASDAQ Capital Markets and its common stock and warrants began trading on the exchange on February 14, 2018, under the symbols BLNK and BLNKW, respectively.
Simultaneous with the Uplisting to NASDAQ the Company completed an underwritten public offering of 4,353,000 units, each unit consisting of one share of common stock and two warrants each to purchase one share of common stock. The aggregate gross proceeds to Blink Charging from the public offering were $18,500,250, prior to deducting underwriting discounts, commissions and other estimated offering expenses. Joseph Gunnar & Co., LLC acted as sole book-running manager for the offering and The Benchmark Company, LLC acted as a co-manager for the offering.
Blink Charging is one of the leaders in nationwide public electric vehicle (EV) charging equipment and services, enabling EV drivers to easily charge at locations throughout the United States. Blink Charging offers EV charging equipment and connectivity to the Blink Network, a cloud-based software that operates, manages, and tracks the Blink EV charging stations and all the associated data.
BioHiTech Global, Inc. — Uplist without capital raise
BioHiTech Global, Inc, a technology and services company that provides cost-effective and sustainable waste management solutions, Uplisted to NASDAQ Capital Markets on April 9, 2018, under the symbol BHTG. The Company met the requirements for an Uplist to without requiring additional capital and therefore did not complete a simultaneous registered offering with the Uplist.
BioHiTech Global, Inc. has combines waste management services with its disruptive technologies providing sustainable waste disposal and supply chain management solutions for businesses and municipalities of all sizes. Their technology platform, including the on and off-site biological treatment of waste, is designed to reduce overall waste generation and virtually eliminate landfill usage while creating a valuable renewable fuel.
Standard Diversified Inc. — Uplist with debt capital raise
Standard Diversified Inc. finalized its Uplist to NYSE American Exchange under the ticker “SDI” on Wednesday, April 25, 2018. The company did not undertake a simultaneous registered offering with the Uplisting but secured a $25 million debt facility in conjunction with the Uplist. Standard Diversified Inc. is a holding company that owns and operates subsidiaries in a variety of industries, including insurance, other tobacco products and outdoor advertising.
Mogo Finance Technology Inc. — Uplist with shelf registration
Mogo Finance Technology Inc, which is focused on building Canada’s leading digital banking experience, completed its Uplist to NASDAQ Capital Market on April 18, 2018.
As part of the Uplist, the Company filed a preliminary short form base shelf prospectus in each of the provinces and territories of Canada, except Quebec, and a corresponding shelf registration statement on Form F-1 in the United States under the U.S.-Canada Multijurisdictional Disclosure System. The company has filed this Prospectus to maintain financial flexibility but has not disclosed any immediate intentions to undertake an offering but this allows the company to make offerings of common shares and debt securities of up to an aggregate initial offering price of C$50 million at any time during the 25-month period that the Prospectus remains effective.
As these examples indicate there are many ways for a company to complete an Uplist and various reasons for doing so. Some are completed as part of a simultaneous capital raise and some are just to provide the company with additional liquidity and market support. Whatever your reason for Uplisting we can assist you in the process.
About Todd Heinzl:
Currently Managing Director of The Governance Box (GBX) and UpListing.com, Todd Heinzl holds over 25 years of experience in the investment and financial services industry. With a focus on assisting globally minded micro and small cap companies achieve up-listing results for their shareholders, UpListing.com offers CEO’s and their Board of Directors uplist strategic plans, through collaboration, in the development and implementation of effective uplist strategy and governance policy. As managing director of both financial advising enterprises, Mr. Heinzl works with companies from a variety of industries with a focus on their corporate governance and subsequently to facilitate their uplisting to senior exchanges such as NASDAQ and NYSE American. Mr. Heinzl is a member in good standing with the National Association of Corporate Directors (NACD), European Corporate Governance Institute (ECGI), and the Royal Canadian Military Institute (RCMI).
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