BrainChip Holdings Ltd. (ASX: BRN), a leading provider of ultra-low power high performance AI technology, today announced that it is applying to upgrade to the U.S. OTCQX market due to increased interest from U.S. investors.
In addition, its ticker symbol on the OTC Pink will become BRCHF effective at the beginning of trading on Friday, April 16, 2021. The company was previously listed under the symbol AZKLF.
The OTCQX Best Market provides value and convenience to U.S. investors, brokers and institutions seeking to trade BrainChip Holdings Ltd. ordinary shares. The OTCQX Best Market is OTC Markets Group’s premier market for established, investor-focused U.S. and international companies. To be eligible, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws and be current in their disclosure. The proposed upgrade to OTCQX is non-dilutive, requiring no additional capital be raised and no new shares will be issued on the OTC markets. No shareholder action is required.
The Company will provide a further update shortly providing details of the date for commencement of trading of its shares on the OTCQX.
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This announcement is authorised for release by the BRN Board of Directors.
About BrainChip Holdings Ltd. (ASX: BRN)
BrainChip is a global technology company that is producing a groundbreaking neuromorphic processor that brings artificial intelligence to the edge in a way that is beyond the capabilities of other products. The chip is high performance, small, ultra-low power and enables a wide array of edge capabilities that include on-chip training, learning and inference. The event-based neural network processor is inspired by the spiking nature of the human brain and is implemented in an industry standard digital process. By mimicking brain processing BrainChip has pioneered a processing architecture, called Akida™, which is both scalable and flexible to address the requirements in edge devices. At the edge, sensor inputs are analyzed at the point of acquisition rather than through transmission via the cloud to a data center. Akida is designed to provide a complete ultra-low power and fast AI Edge Network for vision, audio, olfactory and smart transducer applications. The reduction in system latency provides faster response and a more power efficient system that can reduce the large carbon footprint of data centers.
Additional information is available at https://www.brainchipinc.com