UTIX, a UK/US/EU-based e-ticketing company, takes pride in sharing the news about the venturesome move of its first campaign on raising capital by placing its corporate bonds on OTC Global capital debt market. The issued bonds have the following characteristics:
• Issue Size: USD ($) 15 million
• Coupon/Terms: 9,999% per annum, paid semi-annually
• Listing: OTC for now, but preparations are underway for the London Stock Exchange listing
• Status: Unsecured
• Issue date: May 2021
• Maturity: 2024
• Issuer: UTIX TICKETING PLC
• Use of proceeds: The raised capital is intended to be distributed between the company’s three branches in Europe, the United Kingdom, and the U.S. for improving and advancing its core business - the blockchain ticketing services.
For the last two years, the UTIX dynamic team has been working on building an innovative, online, decentralized event hosting and e-ticketing platform that utilizes smart contracts to reduce market inefficiencies and minimize the threat of fraud. The UTIX protocol eliminates any possibility of counterfeit tickets being sold, and ensures control over secondary pricing, providing event organizers with efficient solutions by using a blockchain system.
“We hope that our bond campaign will be successful and will enable us to raise sufficient capital to finance the rollout of our platform”, says Maxwell Mayhew, Director of Operations and Sales, UTIX.
Having successfully completed the development stage, UTIX is planning the next step of actively marketing the platform to bring event organizers, artists, and users together and give them an edge in taking control back from secondary e-ticketing sites and benefitting the most from a fair market value.
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