Business
SurgePays Announces Application for Dual Listing on Upstream
BARTLETT, Tenn., Nov. 03, 2022 (GLOBE NEWSWIRE) -- SurgePays, Inc. (Nasdaq: SURG) (“SurgePays” or the “Company”), a technology and telecommunications company
About this update from Surgepays, Inc.
[{"type":"text","content":"BARTLETT, Tenn., Nov. 03, 2022 (GLOBE NEWSWIRE) -- SurgePays, Inc. (Nasdaq: SURG) (“SurgePays” or the “Company”), a technology and telecommunications company focused on the underbanked and underserved, today announced that it has begun the application process to dual list its shares of common stock (the “Shares”) on Upstream, the revolutionary trading app for digital securities and NFTs powered by Horizon Fintex (“Horizon”) and MERJ Exchange Limited (“MERJ”). The planned dual listing on Upstream is designed to provide SurgePays the opportunity to access a global, digital-first investor base that can trade using USDC digital currency along with credit, debit, PayPal, and USD, unlocking liquidity and enhancing price discovery while giving international investors the opportunity to invest in a NASDAQ-listed company. Commenting on the application to list on Upstream, Brian Cox, Chairman and Chief Executive Officer of SurgePays, said, “We believe a dual listing on Upstream provides our company access to the global capital markets and the technology to reach countless potential new investors. In addition, as an advocate of the underbanked and underserved, the Upstream platform opens up the world of digital assets to those without bank accounts, brokerage accounts or credit cards. We have an exciting story to tell and believe this listing provides an even greater audience to learn about our growth potential.” “I expect the relationship with Upstream to develop beyond the dual listing. We are planning to integrate a Web3 community-building strategy using Upstream’s carbon neutral, non-custodial Web3 platform to distribute digital coupons (incentive NFTs) for prepaid wireless and mobile broadband subscribers to redeem for discounts and other rewards at stores transacting on the SurgePays platform.” Approval to be listed on Upstream is subject to acceptance by MERJ. However, as an existing NASDAQ issuer, SurgePays may be eligible for an expedited listing process. Upon application approval, a SurgePays shareholder who holds their Shares in a brokerage account will be able to deposit their Shares on Upstream. When deposited on Upstream, the Shares are tokenized. About UpstreamUpstream, a MERJ Exchange Market, is a fully regulated global stock exchange for digital securities and NFTs. Powered by Horizon's Ethereum-L2 matching engine technolo...