Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

Blockchain startup tZERO to announce results of Security Token Offering on August 9

American online retail giant Overstock.com's blockchain subsidiary tZERO has closed its Security Token Offering (STO) on August 6, 2018.

tZERO commenced the token sale late last year, seeking to raise $250 million. It has now closed the STO saying that “There will not be further extensions.”

In June 2018, tZERO signed a letter of intent with GSR Capital for a purchase of $160 million in tZERO Security Tokens. To accommodate the investment, it had extended the STO until August 6, 2018.

In an official announcement, the company said:

“Investors with fully executed Simple Agreements of Future Equity (SAFEs) have until 5 PM (EDT) Wednesday, August 8 to remit funds to tZERO. The company plans to report on the results of the STO this coming Thursday, August 9, 2018, during Overstock’s earnings call.”

Previously, tZERO had announced that a portion of the STO investments would be used to fund its joint venture with BOX digital Markets aimed at launching a regulated security token exchange. The company may also use the funds to increase personnel and to drive further international expansion in the future.

[Correction: The article has been edited to mention that Overstock.com is an American online retail giant, not Chinese as stated previously]

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

July 2 15:00 UTC Released

DKCurrency Reserves

Actual

449.6 Stale

Forecast

Previous

451.7 Stale

July 2 13:45 UTC Released

USISM NY Biz Conditions

Actual

50 %

Forecast

Previous

48.6 %

January 31 00:00 UTC 771345771345m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 771345771345m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 783165783165m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 771345771345m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 783165783165m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 771345771345m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 771345771345m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 771345771345m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.