Vancouver-based Mogo has received approval from the NASDAQ Capital Market to list its common shares on the NASDAQ.
The company first began trading on the Toronto Stock Exchange after raising $50 million in an IPO in 2015.
Mogo’s common shares are expected to commence trading on the NASDAQ at the opening of trading on April 18 under the trading symbol MOGO.
“Listing on NASDAQ represents a significant milestone in the evolution of Mogo as we continue progressing towards our goal of becoming the ‘go-to’ financial app for the next-generation of Canadians,” said Greg Feller, Mogo’s president and CFO. “We believe the listing will provide Mogo with increased visibility with prospective U.S. investors, improved liquidity and a more diversified shareholder base as we continue to grow our over 500,000 members and expand our suite of 6 innovative products, all available through our award winning mobile app.”
Mogo also announced the filing of a preliminary short form base shelf prospectus in each of the provinces and territories of Canada, except Quebec, and a corresponding registration statement with the United States Securities and Exchange Commission (SEC) under the US-Canada Multijurisdictional Disclosure System. The company said it filed the prospectus to maintain financial flexibility but has no immediate intentions to undertake an offering.
These filings, when made final and effective, will enable Mogo to make offerings of common shares and debt securities of up to an aggregate initial offering price of $50 million at any time during the 25-month period that the prospectus is effective.