TZERO company, a subsidiary of the retail giant Overstock, announced the completion of the Security Token Offering (STO), EconoTimes reports.
The fundraising campaign, available for accredited investors, was completed. The results of the token will be announced by representatives of Overstock on Thursday, August 9.
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.
Tokensale of tZERO by a model SAFT started at the end of last year. On the first day of the initial phase of the tokensale, the project collected an amount of $ 100 million. In total, the tZERO platform planned to raise $ 250 million to create a trading system that meets all the requirements of the Securities and Exchange Commission (SEC). The prototype of this innovative platform was introduced in April this year.