LONDON, July 19, 2021 /PRNewswire/ -- Blackbird plc (AIM: BIRD), the developer and seller of the market-leading, patented cloud native video editing platform, Blackbird®, is pleased to announce that a recently submitted form 211, with a view to begin cross-trading on the OTCQX Best Market ("OTCQX"), has cleared with the regulator Finra. Blackbird has submitted the application to the OTC Markets Group for the Company's Ordinary shares to begin cross-trading, under the ticker BBRD, on Wednesday 28 July 2021, which will make Blackbird shares more widely available to North American investors.
Trading on the US OTC market will have no impact on the trading of Blackbird's existing ordinary shares on AIM and no new ordinary shares will be issued as part of the cross-trade. Blackbird will continue to rely on the announcements and disclosures it makes to the London Stock Exchange and will have no Sarbanes-Oxley or SEC reporting requirements.
The OTCQX was created in 2010 and is recognised as an "Established Public Market" by the U.S. Securities and Exchange Commission (the "SEC"). The OTCQX is a leading market for US and international companies in the entrepreneurial and development stage. As a verified market with efficient access to US investors, OTCQX helps companies build shareholder value with a goal of enhancing liquidity and achieving a fair valuation.
The Company believes that having its Ordinary Shares traded on the OTCQX will provide enhanced investor benefits, including easier trading access for investors located in the US, and greater liquidity due to a broader geographic pool of potential investors. A market maker will be appointed in the US to support the trading on the OTCQX.
Ian McDonough, Chief Executive of Blackbird, said: "We are thrilled to have had our application to the OTCQX accepted. This cross-trading facility provides a fantastic opportunity to open up investment in Blackbird to the North American investor community. We are growing most quickly in the US and many of our recent major contract wins such as Univision, Cheddar News, the NHL and A+E Networks are household names in the US but less well known in the UK. We have a fantastic and exciting story to tell and welcome the chance to share it on the US stage as well as the UK one."
About Blackbird plc
Blackbird plc operates in the fast-growing SaaS and cloud video market. It has created Blackbird®, the world's most advanced suite of cloud-native computing applications for video, all underpinned by its lightning-fast codec. Blackbird plc's patented technology allows for frame accurate navigation, playback, viewing and editing in the cloud. Blackbird® underpins multiple applications, which are used by rights holders, broadcasters, sports and news video specialists, esports, live events and content owners, post-production houses, other mass market digital video channels and corporations.
Since it is cloud-native, Blackbird® removes the need for costly, high end workstations and can be used from almost anywhere on almost any device. It also allows full visibility on multi-location digital content, improves time to market for live content such as video clips and highlights for digital distribution, and ultimately results in much more effective monetisation.
Blackbird® is a registered trademark of Blackbird plc.
SOURCE Blackbird plc