ASHLAND – Braidy Industries has posted an update on its Netcapital fundraising website announcing the company has submitted the necessary filings with the U.S. Securities and Exchange Commission to take the first official step to list as a public company.

The company said in an update that it submitted a draft resale shelf registration statement on Form S-1 to the SEC.

The resale shelf registration statement relates to the possible resale from time to time by certain Braidy stockholders, including by investors purchasing shares in connection with Braidy’s current crowdfunding offering being conducted on the Netcapital portal. The resale shelf registration statement is also intended to facilitate the listing of Braidy’s common stock on the NASDAQ Stock Market, the update stated.

Unlike a traditional initial public offering, any resale of Braidy’s shares would not be underwritten by any investment bank, according to the update.