NuriFlex Inc. has entered into an agreement with seriesOne Securities LLC and intends to raise, subject to market conditions and other factors, up to USD 40.0 Million from potential investors (the “Offering”), the company said.
The company is proposing to issue up to 50,000,000 shares of its Class A Common Stock (the “Securities”) to raise up to USD 40.0 Million in the Offering.
The company intends to use the net proceeds from the offering for working capital, operating expenses and capital expenditures, including Advanced Metering Infrastructure in order to speed up the adoption of digital wallets and digital token exchange platforms.
Moreover, the company seeks to further develop and deliver more e-wallet subscribers, and the majority of the investment in the business operations of the company is intended to support and expand the environment and account holder base for the company´s business. While the business initially will be limited to facilitating the exchange of electricity account payment tokens using E-Tokens, the company intends to further develop and leverage its business to enable other payment services and to facilitate the use of E-Tokens as an electronic medium of payment and exchange across all participating countries.
NuriFlex Inc. utilizes telecommunications technologies and applications to supply a simple, convergent solution for the utilities industry, including Advanced Metering Infrastructure (AMI), energy balancing, renewable energy production grids (Micro-Grid), energy management systems (EMS) for industrial production facilities, TV White Space (TVWS) telecommunications, and blockchain-based digital payment platform (DEX) and digital wallet (E-Wallet) to various industry players. NuriFlex Inc. has committed to the development of the most suitable business models to address the specific needs of electricity distribution companies in their distinct environments and situations, combined with our digital payment platform. Learn more at www.nuriflex.com
seriesOne is a blockchain based FinTech company formed by industry veterans with decades of expertise across technology, investment banking, venture capital, and financial compliance. Learn more at www.seriesone.com