NYIAX withdraws IPO filing due to unfavorable market conditions
Investing.com -- NYIAX, Inc., a Delaware-based corporation, has requested the immediate withdrawal of its Registration Statement, initially filed with the Securities and Exchange Commission (SEC) on July 27, 2023. The Registration Statement, which was declared effective on February 12, 2024, was filed under Rule 429 of the Securities Act of 1933.
The company had planned to list its shares of Common Stock on the NASDAQ Capital Market, but due to unfavorable market conditions, it was unable to proceed with the offering. This marks the second instance in which NYIAX has been unable to go public due to market conditions. The company has now decided not to proceed with the offering.
In accordance with Rule 477 under the Securities Act, NYIAX has confirmed that no securities have been issued or sold under the Registration Statement. The company also acknowledges that no refund will be made for fees paid to the SEC in connection with the filing of the Registration Statement.
NYIAX is renowned as the world's first upfront marketplace and advanced contract management platform. The platform offers a space for advertisers and publishers to buy, sell, and trade premium advertising contracts using a forward/futures methodology every day. As the only marketplace built on Nasdaq technology, NYIAX provides a globally trusted, transparent, and curated marketplace to help users identify and unlock the true value of media.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.