Advanced Blockchain AG / Key word(s): Investment/Cryptocurrency / Blockchain
Advanced blockchain AG is aiming for a significant stake in FinPro AG
16-Sep-2020 / 19:49 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
FinPro AG (www.finpro.de) develops software solutions for the blockchain-based representation and management of digital assets, securities and other assets with a focus on crowdfunding applications.
Subject to the approval of the Supervisory Board, the acquisition is to take place exclusively by issuing up to 840,000 shares in Advanced Blockchain AG, which are to be issued as part of a capital increase in kind using the existing authorized capital. The new shares in Advanced Blockchain AG will be valued at the current stock exchange price; with regard to the shares bought in FinPro AG, through the valuation by an expert. The transaction is expected to close in the fourth quarter.
The remaining shares in FinPro AG will continue to be held by the founders and business angel investors.
Advanced Blockchain AG is an exchange-traded blockchain development company based in Berlin, whose shares are traded on XETRA, Frankfurt, Düsseldorf primary market and other stock exchanges. The company develops and invests in blockchain software solutions for industrial companies and applications. There is a significant investment in Peaq Technology GmbH (www.peaq.com), which is developing its own blockchain technology base system called ‘peaq’ based on the new DAGchain technology.
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