TenX Protocols, a blockchain infrastructure company focused on staking and validator operations, will begin trading on the TSX Venture Exchange (TSXV) on December 10th under the ticker symbol “TNX”.
The company announced Wednesday that the listing follows the completion of C$29.9 million ($22 million) in subscription receipt financing completed in connection with the initial public offering transaction. Total capital raised this year exceeds C$33 million, including a C$3.5 million seed round closed in March.
Subscription receipts are a common financing tool in Canada. This allows companies to raise funds before completing transactions such as acquisitions, reverse takeovers, and other public listing processes. Investors put in money before an event but do not receive shares immediately. Instead, you will receive a subscription receipt that will be converted into shares once the transaction is completed.
TenX said it plans to use the proceeds to buy tokens for high-throughput blockchain networks and stake it to secure those networks. It also plans to invest in its own infrastructure products and services.
The company said the financing included a brokered and non-brokered private placement of C$0.75 per subscription receipt, with a portion of the proceeds going to digital assets including SOL, SEI and USDC.
The company lists Borderless Capital, BONK Contributors, DeFi Technologies, HIVE Blockchain Technologies, and Chorus One as investors.
“Canada has always been a pioneer in bridging the crypto world to a wider range of investors through public markets,” Alex Tapscott, an advisor at TenX Protocols, said in an emailed comment.
TenX said it offers public market exposure to staking and validator activity across its network, including Solana, Sui and sei, along with financial management and related services.
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