Prometheum, which is developing a platform for issuance and trading of digital asset securities, filed on Wednesday with the SEC to raise up to $25 million in an initial public offering. The company originally filed in November 2017 but was ineligible for Renaissance Capital tracking because there were warrants attached to the offering.
The New York, NY-based company plans to raise $25 million by offering 6.3 million shares at $4. At the proposed price, Prometheum would command a market value of $208 million.
Prometheum is focused on developing, building out, and commercializing an integrated network for initial and follow on issuances and secondary trading of digital asset securities. The company intends to conduct its operations through wholly-owned subsidiary Prometheum Ember ATS. Pending completion of its registration as a broker-dealer, Prometheum Ember ATS will operate an alternative trading system focused on matching buy and sell orders for digital asset securities (PEATS ATS). The company plans to generate revenue through the PEATS ATS and its Regulation A Platform.
The New York, NY-based company was founded in 2017 and booked $2 million in token development obligation revenue for the 12 months ended June 30, 2020. It plans to list on the Nasdaq under the symbol PMTM. Network 1 Financial Securities is the sole bookrunner on the deal.
