VirtTra, a global provider of training simulators for law enforcement, military, educational and commercial markets, is gearing up for a Reg A+ crowdfunding round. The offer is poised to list on Boustead Securities / Flashfunders platform. Boustead acquired Flashfunders, a FINRA approved Reg CF funding portal, earlier this year.
VirTra is an interesting company. It is provides use of force / fire arms training in a virtual environment. According to the draft Offering Circular, the company is profitable earning over $2 million during fiscal year of 2016. VirTra is currently traded on OTC Markets under ticker symbol VTSI. Following the Reg A+ offer, VirTra expects to graduate to NASDAQ and trade under the same symbol.
Bob Ferris, Chairman of the Board and Chief Executive Officer of VirTra, recently explained;
“We believe listing on the NASDAQ will provide our company with increased exposure to potential investors, greater liquidity for shareholders and enhanced access to growth capital.”
The Reg A+ offer which is not yet live, seeks to raise a minimum amount of $5 million and a max raise of $10 million. The bulk of any funding received will be used for marketing and working capital to build the platform and brand. The market cap on OTCQX currently holds a valuation of just under $50 million.
Several Reg A+ issuers have used the updated securities exemption to raise growth capital and list on a public exchange such as NASDAQ or NYSE. Boustead / Flashfunders client ADOMANI was the first company to ever accomplish this feat and is a watershed moment for the crowdfunding industry. VirTra may be an offer to watch, once the SEC finally approves the filing.
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