BIGG Digital Assets Inc V.BIGG

Alternate Symbol(s): BBKCF

BIGG Digital Assets Inc. owns, operates and invests in crypto businesses. The Company’s principal business activity is investing in companies in the digital asset space. It operates through three business segments: blockchain technology development, digital currency sales via the Netcoins App and immersive metaverse experiences. It has three portfolio companies: Netcoins Inc. (netcoins.com), Blockchain Intelligence Group (blockchaingroup.io), and TerraZero Technologies Inc. (terrazero.com). Netcoins offers secure crypto trading in Canada and the United States and has a robust product offering with over 50 assets for Crypto Trading, Netcoins Pay Mastercard and Staking (Canada Only). TerraZero Technologies Inc. is a vertically integrated Metaverse development group and Web3 technology company specializing in helping brands create immersive experiences. Blockchain Intelligence Group is a digital asset forensics, anti-money laundering detection, and cryptocurrency investigations company.

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Post by milstogoon Apr 14, 2021 1:40pm

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Post# 32993707

Coinbase IPO

Coinbase IPO: COIN stock opens more than 50% higher as trading begins

Apr. 14, 2021 1:30 PM ETCoinbase Global, Inc. (COIN)By: Jerry Kronenberg, SA News Editor5 Comments

Coinbase Global (NASDAQ:COIN) opened for trading at $381 Wednesday following its eagerly anticipated direct listing, up from a $250-a-share reference price that the Nasdaq and Goldman Sachs set a for the stock Tuesday afternoon.
COIN’s was changing hands at $403.29 shortly after 1:30 p.m. ET. The stock symbol for Coinbase will be “COIN."
Wall Street had been excitedly awaiting COIN’s go-public move, as the company represents perhaps the first pure play on the hot cryptocurrency market.
Coinbase operates a popular trading platform for Bitcoin (BTC-USD) and other cryptocurrencies, and also offers services like hosting the digital “wallets” that store investors’ crypto holdings.
COIN is going public at a time when Bitcoin is hitting a record high, as are other cryptos like Ethereum (ETH-USD) and Dogecoin (DOGE-USD).
However, the company took the unusual move of doing public via a direct listing rather than a traditional IPO. Certain Coinbase pre-IPO investors are simply making as many as 114.85M shares available to the public via the Nasdaq.
That’s led to uncertainty as to how much COIN shares are really worth. In a traditional initial public offering, underwriters set the IPO’s official price hours before the stock hits the market, selling shares to institutional investors and wealthy investors at that level.
Although a stock can open higher or lower than the official IPO price, at least that gives some investors an idea of what the shares should be worth. That’s not the case with direct listings.
That said, not only did the Nasdaq and Goldman issue their $250-a-share reference price Tuesday, but German crypto exchange FTX has offered non-U.S. investors a futures contract that imputed the stock’s likely price ahead of official trading.
The FTX contract was trading at $463.845 shortly before 1:30 p.m. ET. As each contract represents 1/250-millionth of Coinbase’s estimated value, that implies a $116B market cap for the company.
Dividing that by Coinbase’s 261.3M fully diluted shares outstanding put COIN shares’ estimated value at about $443.79 apiece just prior to the stock’s official Nasdaq opening.
In any case, Coinbase's hot IPO immediately makes it one of the most valuable financial companies, right up with Morgan Stanley, Charles Schwab and others.
This is a developing story. Check back for updates.