tZERO Announces Launch Date and Initial Terms for its Proposed Token Sale
November 16 2017 - 11:41AM
Business Wire
tZERO announced that the company’s token sale, utilizing a
Simple Agreement for Future Tokens (or SAFT), will begin on
December 18, 2017.
tZERO confirmed that tokens will provide investors the following
unique token characteristics:
- Revenue participation in the form of a
distribution, which will be a percentage of tZERO’s revenue;
and
- Utility to pay for fees and/or services
within the tZERO eco-system.
“The interest in the proposed tZERO token sale has been
overwhelming, and we have been working with our advisors to create
the most unique and innovative token,” said Joseph Cammarata,
President of tZERO.
“tZERO enabled Overstock.com (NASDAQ: OSTK) to make history with
the first ever public issuance of a digital security,” said Ralph
A. Daiuto, Jr., Chief Operating Officer of tZERO. “tZERO has been
at the forefront of blockchain technology and is going to be a
leader in the trading of digital tokens.”
The definitive terms and characteristics of the tZERO tokens
will be set forth in an Offering Memorandum.
For payment instructions and information on how to participate
in the tZERO token sale prospective investors should visit
www.saftlaunch.com and follow the prospective investor verification
instructions.
Please Note: tZERO investments are valid if made only
through www.saftlaunch.com and no other channel. tZERO will NEVER
distribute any contribution or payment instructions, including
crypto currency wallet addresses, via email, chat, or any website
other than through www.saftlaunch.com, and such payment
instructions will only be available on or after December 18,
2017.
About Overstock.com
Overstock.com, Inc. Common Shares (NASDAQ:OSTK) / Series A
Preferred (Medici Ventures’ t0 platform :OSTKP) / Series B
Preferred (OTCQX:OSTBP) is an online retailer based in Salt Lake
City, Utah that sells a broad range of products at low prices,
including furniture, décor, rugs, bedding, and home improvement. In
addition to home goods, Overstock.com offers a variety of products
including jewelry, electronics, apparel, and more, as well as a
marketplace providing customers access to hundreds of thousands of
products from third-party sellers. Additional stores include
Worldstock.com, dedicated to selling artisan-crafted products from
around the world. Forbes ranked Overstock in its list of the Top
100 Most Trustworthy Companies in 2014. Overstock regularly posts
information about the company and other related matters under
Investor Relations on its website, http://www.overstock.com.
About tZERO
t0.com, Inc. (“tZERO“) is a majority owned subsidiary of
Overstock.com, focusing on the development and commercialization of
financial technology (FinTech) based on cryptographically-secured,
decentralized ledgers – more commonly known as blockchain
technologies. Since its inception, tZERO has pioneered the effort
to bring greater efficiency and transparency to capital markets
through the integration of blockchain technology. More information
is available at tZERO.com.
FORWARD LOOKING STATEMENTS
Certain statements and information in this communication may be
deemed to be "forward-looking statements" within the meaning of the
Federal Private Securities Litigation Reform Act of 1995.
Forward-looking statements may include, but are not limited to,
statements regarding the completion and timing of the SAFT sale and
security token offering and our planned use of any proceeds of such
sale and offering, and all statements (other than statements of
historical facts) that address activities, events or developments
that the Company intends, expect, project, believe or anticipate
will or may occur in the future. These statements are often
characterized by terminology such as "believe," "hope," "may,"
"anticipate," "should," "intend," "plan," "will," "expect,"
"estimate," "project," "positioned," "strategy" and similar
expressions, and are based on assumptions and assessments of the
Company's management as of the date hereof. The Company undertakes
no duty to update or revise any such statements, whether as a
result of new information, future events or otherwise.
Forward-looking statements are not guarantees of future
performance. Whether actual results will conform to expectations
and predictions is subject to a variety of known and unknown risks
and uncertainties, including the timing of the Joint Venture’s ATS
going live, the timing of any required regulatory approvals and the
terms and timing of the SAFT sale and security token offering.
This press release is neither an offer to sell nor the
solicitation of an offer to buy the SAFT or the security token or
any other securities, and no offer, solicitation or sale will be
made in any jurisdiction in which, or to any persons to whom, such
an offer, solicitation or sale is unlawful.
The securities described herein have not been registered under
the Securities Act or the securities laws of any other jurisdiction
and may not be offered or sold in the United States absent
registration or an applicable exemption from such registration
requirements.
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version on businesswire.com: http://www.businesswire.com/news/home/20171116006166/en/
For tZEROAlexandra Sotiropoulos+1
212-754-5615asotiropoulos@intermarket.com
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