Coro Global, which is developing a gold-focused payment application and financial security platform, announced terms for its IPO on Tuesday.
The Miami, FL-based company plans to raise $15 million by offering 2.9 million shares at $5.15, the January 22 close of its shares on the OTC Pink (CGLO). At the proposed price, Coro Global would command a market value of $146 million.
The company's CORO mobile app was completed and released in select US markets in August 2020, and has since expanded into new markets. It is now licensed, approved, and operating in 23 US states and the District of Columbia. CORO intends to continuing expanding in the US in 2021 and will also pursue money transmission licenses in foreign countries such as Mexico and Canada.
Coro Global traces its roots to 2005 and plans to list on the Nasdaq under the symbol CORO. Maxim Group LLC is the sole bookrunner on the deal.
