BSF (LSE: BSFA), the Main Market listed biotech company and the owner of pioneering UK-based clinical and cellular agriculture company 3D Bio-Tissues, is pleased to announce that is has submitted an application for trading the Company's Ordinary Shares ("Ordinary Shares") on the OTCQB Venture Market in the United States.
Trading on the OTCQB market will allow BSF to access one of the world's largest investment markets, expanding its reach into a broader pool of investors and creating the potential for greater liquidity in the Company's shares. Shares will also be available to US investors during US trading hours, priced in US dollars, thereby easing cross-border trading, and providing the potential to enhance liquidity still further.
There is no capital raise associated with BSF trading on the OTCQB market and BSF's Ordinary Shares will continue to trade on its primary listing, the Main Market of the London Stock Exchange, under the ticker BSFA.
Che Connon, Managing Director of BSF Enterprise and CEO at 3D Bio Tissues, commented: "Joining the OTCQB market provides BSF with access to a wider investor audience which in turn can improve our liquidity. In addition, it helps raise our international profile, which could prove invaluable given the global potential for our market leading cellular agriculture products as we open up sales channels across key global markets."
Further Information on BSF's application and the OTCQB market below:
As a Foreign Private Issuer, BSF's onboarding to the OTC Markets is based on satisfaction of the requirements for OTCQB as applicable to international reporting companies including satisfaction of the criteria for the exemption under the US Exchange Act Rule 12g3-2(b) from SEC reporting. The Rule 12g3-2(b) exemption includes the disclosure obligation to ensure that certain information made public or distributed under home market regulations is made publicly available on the Company's website or other electronic information delivery system in English. Thus, the Company will have no additional reporting obligations and incur minimal ongoing costs, compared to traditional major exchanges.
As a verified market, the OTCQB offers transparent trading for companies that have met a minimum bid price test, are current in their financial reporting and have undergone an annual verification and management certification process. The cross-trading facility is provided through OTC Markets Group Inc., located in New York. OTC Markets operates the world's largest electronic interdealer quotation system for US broker dealers and offers multiple media channels to increase the visibility of OTC-listed companies. Online brokers such as Ameritrade, Fidelity Investments, Tradestation, Charles Schwab and E-trade all offer OTCQB trades. US investors can find real-time quotes, market information and access current company news and developments on a BSF page on the OTC Markets website after the application is completed .
BSF has appointed B. Riley Financial Company as its OTCQB Sponsor and is advised by Ince Lawyers in London.
Additional information about the OTCQB market can be found at: