Small-Cap Issuer CIMG Raises $8.7M with Bitcoin-Paying Share Sale

CIMG Inc., a small-cap issuer, has raised $8.7 million in a share sale that accepts Bitcoin as payment. The company sold 3 billion common shares at $0.0029 each to non-US investors, with the gross proceeds expected to be used for unspecified purposes.

The transaction is subject to Regulation S exemption under the Securities Act of 1933 and is not registered in the US. This means that the securities cannot be sold there unless registered or exempted.

The deal signals how far crypto has crept into conventional securities transactions, even for small-cap issuers using offshore exemptions to reach non-US buyers.