2018-6-30 06:50 |
tZERO, a security token exchange and subsidiary of Overstock.com, has signed a letter of intent with investment company GSR Capital for the purchase of $160 million in tZERO Security Tokens, according to a press release published June 29.
Beijing-based GSR Capital will reportedly purchase $160 million worth of tZero security tokens at a price of $10.00 per token, pursuant to the Simple Agreement for Future Equity (SAFE).
tZERO’s Security Token Offering (STO) has been prolonged until August 6, 2018, in order to accommodate investment from GSR Capital.
tZERO has also “entered into executed SAFEs in excess of $168 million for Security Tokens, of which over $95 million has been already funded,” the announcement says.
tZERO initially introduced the prototype of its security token trading platform in the beginning of April.
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