I will just paste what the company said about moving:
The key reasons influencing this decision are as follows:
1.
The US market is home to the world’s largest technology investment exchange and most of the world’s largest semiconductor and Artificial Intelligence (AI) companies. It provides access to a substantially larger and highly technologically sophisticated pool of potential investors on a global scale. US technology sector investors are generally more familiar with AI technology companies and have a deeper understanding of valuation methodologies for emerging technology companies like BrainChip.
2.
A US listing has the potential to be a positive revaluation and re-pricing catalyst for all existing BRN shareholders, exposing the Company to the possible entry of new US based technology investors, both institutional and retail, who have previously not been able or willing to invest in BrainChip due to company policies prohibiting foreign investment or other compliance related concerns.
3.
SEC disclosure rules provide greater protection for the Company and our customer’s commercially sensitive information, allowing BrainChip to conduct its commercial activities without the risk of being compelled to disclose confidential and commercially sensitive information that breach Non-Disclosure Agreements (NDA) signed with BrainChip’s customers, commercial ecosystem partners, and licensees thus removing a serious obstacle to commercial success.
4.
A simultaneous delisting from the Australian Securities Exchange (ASX) would reduce regulatory compliance, cost and disclosure obligations that exist in a dual-listed scenario. By pursuing a simultaneous US listing and delisting from the ASX, and the cancellation of the quotation on the OTCQX market and the ADR program, the intended result is a clean and simple transition from one exchange to another with minimal cost and without the regulatory and compliance obligations associated with being dual listed.
BrainChip Chairman, Antonio J. Viana said:
“The decision to explore a US listing was taken after considerable reflection and subject to rigorous Board debate and evaluation.
The Board unanimously believes this strategic decision is in the best interests of our shareholders, our employees, our partners and our existing and future licensees. It will elevate BrainChip’s value and profile on the world’s largest, most dynamic and technology-focused investment market.
In the event we move forward with redomiciling, I want to reassure our valued shareholders, the vast majority of whom are Australian retail investors, they will be able to buy, hold and sell shares of our new US parent company without restrictions once the US listing has taken effect.
I am confident this strategic decision is in the best interests and will be a catalyst for value, appreciation, and continued growth for our Company.”
This announcement is authorised for release by the BRN Board of Directors.
So there you have it!
Does it make any sense? Yes to me it does.