LONDON, March 2, 2018 /PRNewswire/ --
Right of Reply Ltd is pleased to announce to its shareholders that it has received on 25th January 2018, the approved effectiveness by the U.S. Securities and Exchange Commission the S1 registration statement. Through its US Market Maker, Right of Reply has filed the 2-11 with FINRA with a view to obtaining the green light for an IPO and later to be listed on the US Stock Exchange. The expected US Stock Trading Symbol is "RIRE".
The Company has signed an advisory and brokerage agreement with a reputable London Investment Banking firm, with a view to List Right of Reply on the London Stock Exchange Standard Segment to allow for more European investors to participate in the IPO.
The Company's aim is to raise £2.25m in equity, at £7.50 share price, with a pre-money valuation of £15m. The use of proceeds will be for working capital and the closure of one or more strategic acquisitions. The market will be updated regarding the status of this acquisition which will be closed by a mix of cash and Right of Reply equity at IPO issuing price.
Right of Reply is dedicated to improving the transparency, accuracy, and accountability of digital media by providing tools that allow individuals and companies to defend their right to reply and their right of expression in a public forum. The potential positive social benefits of the platform and the timeliness of the Company's goals encouraged the founders to also apply for a listing on the Social Stock Exchange ("SSX" in London) through its advisor Ignis Advisory (Geneva). Our application was approved by the SSX Panel review on 1st February 2018.
In collaboration with Berkeley Economic Advising and Research (Berkeley California) a detailed economic impact analysis is being prepared, which will outline the social and economic benefits of the platform and identify possible future developments of Right of Reply Ltd. A formal agreement has been made with Casaleggio & Associati (Milan) to implement the platform in Italy. Italy is an ideal launch market for Right of Reply considering the strong precedent and extreme impact of issues related to the right of expression, right of reply, and publisher liability.
Further agreements have been established with leading law firms and consultants in the UK, Switzerland, and Italy. These firms will explore and document how Right of Reply's platform can resolve issues related to fake news, freedom of expression, the right of reply, right to protect personal reputation, privacy, and individual dignity.
Right of Reply's platform is ideal for individuals, institutions, companies, publishers and distributors of information as well as social networks and search engines.
The software developed by TechMobile (Milan) will be released to the first Italian Publisher and Editor in May 2018.
Thanks to the Blockchain technology, Right of Reply will deploy a distributed open verification platform that reduces ambiguities about individual and collective identities, sources and distribution pathways of information, news, comments and material whether true, false, positive or slanderous. It will also allow users to identify themselves against and for information published about them.
"Right of Reply enables a more open verifiable and bully free cyberspace at the same time enabling individuals and institutions cited to have precedence in the flow of comments and posts thereby fostering a new, more accurate and engaging form of interactive media." - Tom Brooks, CEO, Right of Reply
SOURCE Right of Reply