BrainChip Approved for DTC Eligibility
BrainChip Holdings Ltd (OTCQX: BRCHF) announced its eligibility for DTC trading, enhancing the electronic trading of its shares in the U.S. DTC, the largest securities depository globally, streamlines trade settlements, reducing costs and improving liquidity. This development is expected to make trading easier and more cost-effective for shareholders, increasing market attractiveness. Additionally, BrainChip’s ADR program aims to attract institutional investors by allowing shares to trade in U.S. dollars, further boosting visibility and trading volume.
- DTC eligibility allows for electronic trading in the U.S., enhancing liquidity.
- Reduction in trading costs and barriers for investors.
- Increased visibility and attractiveness of the stock to global investors.
- None.
- Company's stock now able to be traded electronically through the largest securities depository in the world
- Benefits include better liquidity and lower transaction costs
LAGUNA HILLS, CA / ACCESSWIRE / February 3, 2022 / BrainChip Holdings Ltd (ASX:BRN, OTCQX:BRCHF, ADR:BCHPY,) the world's first and only commercial producer of neuromorphic artificial intelligence chips, today announced that its ordinary shares have been approved for eligibility by The Depository Trust Company (DTC), making it possible to settle trades electronically in the United States among broker/dealers and the Company's US transfer agent.
DTC is the largest securities depository in the world, holding more than US
"We view being DTC eligible to be a tremendous value add for our shareholders as it significantly minimalizes barriers to trade by enabling brokers and dealers to quickly and easily exchange shares through the depository," said Ken Scarince, BrainChip Chief Financial Officer. "Having additional real-time electronic trading options helps ease the volatility of transactions, enables higher trade volumes and offers lower trading fees. This is the latest in a series of moves we have made to increase the visibility and attractiveness of our stock to various investors around the world."
The Company launched an American Depositary Receipt (ADR) program in November of last year as an instrument aimed at attracting US institutional investors. This allowed the Company to have ADSs (with each ADR representing 40 ordinary shares of BRN) to trade in US dollars on the OTCQX. This process closely followed the Company's upgrade to the OTCQX Best Market earlier in 2021.
About BrainChip Holdings Ltd (ASX: BRN, OTCQX: BRCHF, ADR: BCHPY)
BrainChip is a global technology company that is producing a groundbreaking neuromorphic processor that brings artificial intelligence to the edge in a way that is beyond the capabilities of other products. The chip is high performance, small, ultra-low power and enables a wide array of edge capabilities that include on-chip training, learning and inference. The event-based neural network processor is inspired by the spiking nature of the human brain and is implemented in an industry standard digital process. By mimicking brain processing BrainChip has pioneered a processing architecture, called Akida™, which is both scalable and flexible to address the requirements in edge devices. At the edge, sensor inputs are analyzed at the point of acquisition rather than through transmission via the cloud to a data center. Akida is designed to provide a complete ultra-low power and fast AI Edge Network for vision, audio, olfactory and smart transducer applications. The reduction in system latency provides faster response and a more power efficient system that can reduce the large carbon footprint of data centers.
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Additional information is available at https://www.brainchipinc.com
Follow BrainChip on Twitter: https://www.twitter.com/BrainChip_inc
Follow BrainChip on LinkedIn: https://www.linkedin.com/company/7792006
Contacts
Media Contact:
Mark Smith
JPR Communications
818-398-1424
Investor Contact:
Mark Komonoski
Integrous Communications
Direct: 877-255-8483
Mobile: 403-470-8384
mkomonoski@integcom.us
SOURCE: BrainChip Holdings Ltd.
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