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BrainChip Approved for DTC Eligibility

  • Company's stock now able to be traded electronically through the largest securities depository in the world
  • Benefits include better liquidity and lower transaction costs

LAGUNA HILLS, CA / ACCESSWIRE / February 3, 2022 / BrainChip Holdings Ltd (ASX:BRN, OTCQX:BRCHF, ADR:BCHPY,) the world's first and only commercial producer of neuromorphic artificial intelligence chips, today announced that its ordinary shares have been approved for eligibility by The Depository Trust Company (DTC), making it possible to settle trades electronically in the United States among broker/dealers and the Company's US transfer agent.

DTC is the largest securities depository in the world, holding more than US$35 trillion worth of securities. Being DTC eligible allows BrainChip's shares to be traded between member firms electronically via its "street name" without buyers and sellers needing to transfer physical certificates to settle trades. This process dramatically reduces costs associated with trading securities while improving the ease of trading and liquidity of the Company's securities.

"We view being DTC eligible to be a tremendous value add for our shareholders as it significantly minimalizes barriers to trade by enabling brokers and dealers to quickly and easily exchange shares through the depository," said Ken Scarince, BrainChip Chief Financial Officer. "Having additional real-time electronic trading options helps ease the volatility of transactions, enables higher trade volumes and offers lower trading fees. This is the latest in a series of moves we have made to increase the visibility and attractiveness of our stock to various investors around the world."

The Company launched an American Depositary Receipt (ADR) program in November of last year as an instrument aimed at attracting US institutional investors. This allowed the Company to have ADSs (with each ADR representing 40 ordinary shares of BRN) to trade in US dollars on the OTCQX. This process closely followed the Company's upgrade to the OTCQX Best Market earlier in 2021.

About BrainChip Holdings Ltd (ASX: BRN, OTCQX: BRCHF, ADR: BCHPY)

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.

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Additional information is available at https://www.brainchipinc.com

Follow BrainChip on Twitter: https://www.twitter.com/BrainChip_inc

Follow BrainChip on LinkedIn: https://www.linkedin.com/company/7792006

Contacts

Media Contact:

Mark Smith
JPR Communications
818-398-1424

Investor Contact:

Mark Komonoski
Integrous Communications
Direct: 877-255-8483
Mobile: 403-470-8384
mkomonoski@integcom.us

SOURCE: BrainChip Holdings Ltd.



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https://www.accesswire.com/687083/BrainChip-Approved-for-DTC-Eligibility

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