Prometheum, which is developing a platform for issuance and trading of digital asset securities, raised the proposed deal size for its upcoming IPO on Tuesday. In its latest filing, the company also disclosed financials for the fiscal year ended December 31, 2020.
The New York, NY-based company now plans to raise $38 million by offering 6.3 million shares at $6. The company had previously filed to offer the same number of shares at $4. At the revised price, Prometheum will raise 50% more in proceeds than previously anticipated.
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.
Prometheum was founded in 2017 and plans to list on the Nasdaq under the symbol PMTM. Network 1 Financial Securities is the sole bookrunner on the deal.
