Blockchain-based application developer GreenBox POS sets terms for $40 million Nasdaq uplisting

GreenBox POS, which is developing blockchain-based payment solutions, announced terms for its Nasdaq uplisting on Wednesday.

The San Diego, CA-based company plans to raise $40 million by offering 4.6 million shares at a price of $8.70, the as-converted February 5th close of its shares on the OTCQB (GRBX). At the proposed deal size, GreenBox POS would command a fully diluted market value of $340 million.

GreenBox POS develops, markets, and sells blockchain-based payment solutions, with a core focus on developing and monetizing disruptive blockchain-based applications, integrated within an end-to-end suite of financial products. In March 2018, the company formally announced the launch of its five products: DEL (Delivery App), PAY (Payment App), QuickCard Payment System, POS Solutions, and Loopz Software Solution.

GreenBox POS was founded in 2007 and plans to list on the Nasdaq under the symbol GBOX. Kingswood Capital Markets is the sole bookrunner on the deal.

The article Blockchain-based application developer GreenBox POS sets terms for $40 million Nasdaq uplisting originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

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