TenX Protocols, a blockchain infrastructure company focused on staking and validator operations, will begin trading on the Toronto Stock Exchange Venture Exchange (TSXV) on December 10 under the ticker “TNX.”
The listing follows the completion of subscription receipt financing totaling C$29.9 million ($22 million) in connection with its listing, the company said on Wednesday. Total funding raised this year exceeds CAD 33 million, including a CAD 3.5 million seed round completed in March.
Subscription receipts are a common financing tool in Canada. They allow companies to raise capital before a deal such as an acquisition, reverse takeover or other going public process is completed. Investors put money in before the event but don’t receive shares immediately; instead, they get subscription receipts and convert them into shares after the deal closes.
TenX said it plans to use the proceeds to purchase tokens for high-throughput blockchain networks and stake them to help secure those networks. It will also invest in its own infrastructure products and services.
The company said the financing includes brokered and non-brokered private placements priced at C$0.75 per subscription receipt, with a portion of the proceeds earmarked for digital assets including SOL, SEI and USDC.
The company lists Borderless Capital, BONK Contributors, DeFi Technologies, HIVE Blockchain Technologies, and Chorus One as investors.
“Canada has been a pioneer in connecting the cryptocurrency world to a broader investor audience through public markets,” TenX Protocols advisor Alex Tapscott said in emailed comments.
TenX said it provides open market staking and validator activity, as well as financial management and related services through networks such as Solana, Sui and Sei.
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