Blackbird Shares To Trade On U.S. OTC Market
Blackbird plc, the developer and seller of the patented cloud native video editing platform, Blackbird, announced that it has submitted an application to the OTC Markets Group for the company’s ordinary shares to begin cross-trading on the OTCQX Best Market, under the ticker BBRD, on Wednesday, July 28, which will make Blackbird shares more widely available to North American investors.
The company said trading on the US OTC market will have no impact on the trading of Blackbird’s existing ordinary shares on AIM and no new ordinary shares will be issued as part of the cross-trade. Blackbird will continue to rely on the announcements and disclosures it makes to the London Stock Exchange and will have no Sarbanes-Oxley or SEC reporting requirements.
The OTCQX was created in 2010 and is recognized as an “Established Public Market” by the U.S. Securities and Exchange Commission. The OTCQX is a leading market for U.S. and international companies in the entrepreneurial and development stage. As a verified market with efficient access to U.S. investors, OTCQX helps companies build shareholder value with a goal of enhancing liquidity and achieving a fair valuation.
The company said it believes that having its ordinary shares traded on the OTCQX will provide enhanced investor benefits, including easier trading access for investors located in the U.S., and greater liquidity due to a broader geographic pool of potential investors. A market maker will be appointed in the U.S. to support the trading on the OTCQX.
Ian McDonough, chief executive of Blackbird, said: “We are thrilled to have had our application to the OTCQX accepted. This cross-trading facility provides a fantastic opportunity to open up investment in Blackbird to the North American investor community. We are growing most quickly in the U.S. and many of our recent major contract wins such as Univision, Cheddar News, the NHL and A+E Networks are household names in the U.S. but less well known in the U.K. We have a fantastic and exciting story to tell and welcome the chance to share it on the U.S. stage as well as the U.K. one.”