Overstock's tZero Issues Preferred Security Tokens after Raising $134M via STO
Cryptovest
Published Oct 18, 2018 07:33AM ET
Updated Oct 18, 2018 08:41AM ET
Overstock's tZero Issues Preferred Security Tokens after Raising $134M via STO
tZero, the blockchain-focused subsidiary of online retailer Overstock.com (NASDAQ:OSTK), announced on Tuesday it had wrapped up the issuance of preferred security tokens to investors with the so-called signed agreements for future equity (SAFEs). The latter were part of tZero’s security token offering (STO), which closed on August 6, 2018 and generated proceeds of $134 million from more than 1,000 investors worldwide.
tZero CEO Saum Noursalehi commented:
“This is one of the first Security Token Offerings on a decentralized public network, and was conducted in full compliance with the US securiti...
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