The organizers of ICO Telegram sent potential investors another set of documents, in which they told about their further plans. This is reported by Business Insider.
One of them says that after the completion of the first part of the campaign, during which Telegram has already managed to raise $ 850 million, the project is going to launch the second part, which should start in late February and, if successful, could bring the organizers another $ 1.7 billion. The second part of the campaign, in turn, will be divided into 2 stages. Thus, the popular messenger in total expects to collect $ 2.55 billion - an unprecedented amount for this type of fund-raising.
In one of the documents, the company writes that it will return money to investors if the product is not launched by October 2019, but in another it makes an important clarification:
There can be no assurance that the Issuer or Telegram will have sufficient funds to make payments of any Termination Amount (as defined in the Purchase Agreements) as and when required under the terms of the Purchase Agreements. Neither Telegram nor the Issuer has any fiduciary or other obligation to use the funds generated by the token sale for the benefit of the purchasers…
Documents for Telegram ICO Participants
Joe Deepascal, who takes part in ICO Telegram together with his company BitBull Capital, considers the amount of funds that Telegram has already attracted and is still going to attract, incredible.