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Further to LeapRate’s earlier article on Bitcoin Group’s IPO being rescheduled, there has been some development regarding this topic.
The Melbourne-based Bitcoin miner on Friday (September 4, 2015) officially relodged its prospectus with the Australian Securities and Investments Commission (ASIC). The regulator, which had issued several stop orders regarding the planned IPO on the Australian Securities Exchange, on Friday revoked the stop orders.
Photo credit: ASIC.
The revised prospectus is dated September 4, 2015 and was lodged with the Australian Securities and Investments Commission (ASIC) on that date. This is a replacement prospects and replaces in its entirety, the prospectus lodged with ASIC on June 29, 2015.
The important differences between the original and the replacement prospectus include:
- The Independent Expert Report at section 7 of the Original Prospectus has been removed in its entirety, (requiring some consequential amendments);
- Forecast Financial Information has been removed;
- Actual Financial Information (reviewed) up to 30 June 2015 is included at section 6;
- A new Investigating Accountants Report is included at section 7 which specifically excludes references to financial forecast information;
- Additional details relating to the business strategy and operations have been included at section 4.
This Prospectus dated September 4, 2015 (as its predecessor) constitutes an invitation to subscribe for up to 100,000,000 New Shares at an offer price of AU$0.20 per New Share to raise AU$20,000,000.
The Offer opened on September 4, 2015 and is set to close on October 30, 2015 and Bitcoin Group expects the New Shares to commence trading on the ASX on or about November 11, 2015.
The Offer is open to Australian retail and wholesale investors.
As mentioned above, the company included its financial metrics for the period from its incorporation (September 4, 2014) until June 30, 2015. Here are some highlights:
- Total revenues: AU$ 1.74 million;
- Gross profit: AU$ 431,000;
- Net profit after tax: AU$ 10,000;
- Total comprehensive income: AU$ 69,000.
To download the prospectus, click here.