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Exodus Wallet Team Submits SEC Request for $ 75M Regulated Token Sale

Exodus cryptocurrency wallet developers filed application to the US Securities and Exchange Commission (SEC) for a $ 75 million regulated token sale.

The document was sent on February 26, the regulator has 21 days to review it. Sentence tokenized shares can pass in accordance with the established position “A +”

This format allows you to attract funds from private investors, and not only accredited ones, which are limited by position “D… The latter is more popular among cryptocurrency companies.

Due to the recent changes, the amount of funds raised under the A + position will grow from $ 50 million to $ 75 million from March 15th. In an interview CoinDesk Exodus co-founder J.P. Richardson noted that this is exactly what the company expects to receive.

According to him, preparations for the token sale began in May 2020. He estimated the total costs at $ 1 million.

The startup used the services of the law firm Wilson Sonsini Goodrich & Rosati, which acted as a consultant to the blockchain company Blockstack when holding the last regulated token sale.

The minimum investment in Exodus will be $ 27.42 – the cost of one security token. Bitcoin, Ethereum and USDC stablecoin will be accepted as payment.

The company’s capitalization may reach $ 710 million.

The Exodus token sale will take place on the Securitize platform. To participate, you must pass a KYC check. The coins will be distributed by satisfying earlier submitted applications.

As a reminder, in August ForkLog reported about conducting an IPO based in Gibraltar exchange INX… The proposed INX tokens are a hybrid solution – both utility and security tokens

Recently, company representatives announced plans to receive listing in the Toronto Stock Exchange’s Venture Capital Section (TSVX)

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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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