OTC Markets, looking to promote trading volumes and capital raising ability for small and startup companies, has formally announced the first 100 stocks that will trade on its venture-type exchange.
The companies are both based in the U.S and abroad.
For a complete list of the companies, CLICKHERE.
“As companies raise capital and go public under the JOBS Act, we anticipate they will use OTCQB as a stepping stone to OTCQX, our best marketplace, as well as to NASDAQ and the New York Stock Exchange,” said Cromwell Coulson, president and chief executive of OTC Markets. “OTCQB offers an efficient entry into the public markets for entrepreneurial companies that are committed to creating value for their shareholders.”
The 100 companies have met new standards that are designed to improve marketplace integrity and enhance transparency for investors. To be eligible to trade on OTCQB, companies must be current in their reporting to a U.S. or foreign regulator, pass a minimum bid price test of one penny ($0.01) and undergo an annual verification and management certification process providing additional information about the company’s insiders, advisors and share count.
Highlights of the first one hundred companies:
. $11.4 million median market capitalization
. 30 companies upgraded to OTCQB from OTC Pink
. 66 were approved to continue trading on OTCQB
. 91 are headquartered in the U.S.
. 9 are non-U.S. companies listed on a qualified foreign venture exchange such as the TSX Venture Exchange and Canadian Securities Exchange
. One company joined OTCQB from NASDAQ
. Feature a wide variety of industries, including biotechnology, media, technology, mining, oil and gas, food and consumer products
Companies that are approved to trade on OTCQB receive access to additional premium services to help them build visibility and improve transparency for investors including the OTC Disclosure & News Service and free real-time Level 2 quotes. OTCQB companies that do not meet these requirements are downgraded to the OTC Pink open marketplace where they can trade at no cost, with simplified rules while they refinance, reactivate or reinvent their businesses.
Companies traded on OTCQB as of May 1, 2014, are required to comply with the new OTCQB marketplace standards within 120 days after their 2014 fiscal year-end date. Approximately 2,400 OTCQB companies face deadlines for compliance over the next 10 months with the majority required to comply by May 1, 2015. By July 30, 2015, all OTCQB companies that cannot or choose not to comply with the new standards will be downgraded to OTC Pink.