U.S. digital movie and television streaming platform PunchFlix has filed for $20 million initial public offering (IPO) of its stock.
PunchFlix offered to sell 4 million shares at $5 per share with a minimum of 50 shares recommended to be bought by any investor.
With the proposed IPO, PunchFlix will acquire new content for its website and develop the distribution of content utilizing the blockchain.
Further, the company will also use the funds for advertising to boost the subscriber base as well as build a team that will create a sustainable growth model.