Mainstreet Investments will hold a crowdsale of 50 million tokens on Jan. 15, 2017 to March 15, 2017, capped at $25 million. An initial token offering memorandum outlines the sale’s goals and objectives according to Intellisys Capital, the fund’s manager and general partner.
The fund, led by Intellisys’ Chief Executive Officer Jason Granger and Charlie Shrem, the company’s chief technology officer, will try to change the way investment can occur through the use of blockchain technology.
“We want to be as upfront and transparent as possible about the token offering and what investors can expect,” said Shrem in a prepared statement. “We’re raising the bar when it comes to raising funds through an initial token offering.”
The memorandum is meant as a gesture of transparency to potential investors or anyone interested in the token offering.
The tokens can be purchased with bitcoin or Ether. The sale is capped at $25 million, with a 10% holdback for additional investment and working capital. Unsold tokens will be burned immediately after the sale.
The sale will run until March 15, adhering to the following pricing schedule:
● Weeks 1 – 2: 900 MIT = 1 BTC
● Weeks 3 – 4: 750 MIT = 1 BTC
● Till close: 500 MIT = 1 BTC
Bulk discounts are available.
Intellisys will guide Mainstreet Investment to invest in U.S. middle-market operating companies, fund-of-funds, and real estate projects to increase investor awareness and attract future opportunities.
The approach will raise the fund’s credibility in mainstream markets, offering a showcase for blockchain projects seeking recognition from larger investors.
“As we provide distributions to investors, we will look at blockchain companies that will be synergistic with our portfolio companies,” Shrem said.
“The Mainstreet Investment token offering will change the game for investing on a worldwide stage,” Granger said. The excitement associated with the project “keeps our team getting out of bed every morning to see what we’re going to do next.”
“What we are attempting to achieve will merge investment, securities law and technologies in a way that has not yet been done,” Granger said.
Intellisys will hold a live video session for members of Coinfund’s Slack channel on Wednesday, Dec. 21 starting at 11 a.m. EST. Sign up at slack.coinfund.io.
Image from Shutterstock.
Last modified (UTC): October 14, 2019 05:27