Arcario AB Announces Renewed Application for US Listing on OTCQB
Today, the Board of Directors in Arcario AB (“Arcario” or the “Company”) announced their decision to continue pursuing a listing on OTCQB, a U.S. trading market operated by OTC Markets Group, renowned as a bridge for U.S. investors into dynamic foreign markets like Arcario's. This initiative, originally kick-started in 2021, was momentarily halted due to prevailing market conditions.
Observing the subtle yet promising shifts in the financial landscape, Arcario has been met with a significant surge in interest and inquiries from U.S.-based investors towards both the Company and its portfolio companies in recent months. This heightened attention augments our optimism about the approaching turn of the tide, particularly as we approach 2024.
"Our team is noting numerous signals that suggest an impending positive change. While the broader market might still be adjusting its lens, we, bolstered by this increasing interest, remain both bullish and poised, making strategic investments with unwavering confidence. This journey isn't a mere sprint but a marathon, and our relentless focus is on the long game," states Michael Jackson, Chairman of the Board.
In the backdrop of a fluctuating U.S. regulatory environment, Europe has ascended as a crypto front-runner. Arcario, with its deep expertise, finds itself in a pivotal position to judiciously back emerging Web3 enterprises on favorable terms - capitalizing before market greed once again takes precedence. The Arcario team's proactive role in shaping the Markets in Crypto-Assets (MiCA) within the EU showcases their commitment not just to adapt to market trends but to actively define them.
"We were strategic in our decision to pause the OTCQB listing earlier. And today, we're equally deliberate about pressing ahead. The prevailing market hesitations present an opportune moment for discerning investors. As the landscape shifts, we anticipate that astute financial strategies will thrive. Reigniting this initiative now ensures Arcario stands at the forefront, primed to leverage emerging opportunities," elaborates Michael Jackson.
Arcario's anticipated presence on the OTCQB in 2023 is expected to foster expanded accessibility, especially for U.S.-based investors, both institutional and retail. When finalized, this will improve Arcario’s access to the US public markets by allowing investors to trade Arcario’s shares in U.S. dollars in U.S. time zones.
To fulfill the OTCQB share price requirements, the Company's Board intends to propose a consolidation of shares through a reverse stock split. This proposal will be subject to approval by a future extraordinary general meeting that is yet to be announced.
Paving the way for this expansion and Arcario’s broader growth vision, the Company has held financing discussions with various investors and has notably received an offer for long-term financing from key shareholders, which is currently under evaluation by the Board.
Updates on the application process will be communicated promptly.
For further details or queries, please contact Arcario AB's IR team at [email protected] or visit arcario.com/ir.
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About Arcario
Arcario is a Scandinavian trailblazer in the digital asset space, committed to shaping the future of finance as we know it. The company boasts a diversified portfolio that includes K33, a research-led digital assets brokerage, Green Data, an eco-friendly Bitcoin mining operation, and minority stakes in LN Markets, a Bitcoin exchange leveraging the Lightning Network, Pure Digital, a digital currency interbank OTC market and Finpeers, a startup democratizing access to private financial markets through tokenization. The Company is listed on Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser.