mkiker2089
Elio Addict
I'll check this one out later. I don't have much to invest but it could be an interesting way to pass time.
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What Is Elio Stock Trading For Today?
- Thread starter Ekh
- Start date
I'll check this one out later. I don't have much to invest but it could be an interesting way to pass time.
LillyMayPatterson #1685 & #5648
Elio Addict
Listening to overstock phone conference now. Tzero will be working on their own set up now and will work on their back log "LATER THIS YEAR OR EARLY NEXT YEAR." I hate being right sometimes. Sounds a lot like Xmas, don't it.
Sailor Dog
Elio Addict
Over $374M from GSR (out of Hong Kong) for tzero & overstock. Also...OSTK up over 20% in extended hours. GSR also buying $30M of tzero STO's'. Great demand in the trillions from Hong Kong & middleeast for the latest STO related investments...the stars are aligning this FALL for Eliocoin & then full ELIO funding. GO ELIO!!!
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LillyMayPatterson #1685 & #5648
Elio Addict
That is how I understood it, Sailor.
Travelbuzz1
Elio Addict
GSR Capital to Invest in tZERO at $1.5 Billion Valuation
Full investment up to $404 million upsized from prior LOI on 29 June 2018, consisting of;
- Up to $270 million in tZERO equity (at $1.5 billion post-money valuation)
- $30 million purchase of tZERO Security Tokens from Overstock.com
- Up to $104.55 million in shares of parent company Overstock.com common stock
As part of the term sheet agreement, GSR Capital will purchase up to 3.1 million shares of OSTK common stock at a five percent discount to the closing share price on August 1, 2018. GSR Capital will also invest up to $270 million for up to 18% of tZERO’s equity at a valuation of $1.5 billion (post-money). Additionally, pursuant to a purchase agreement, GSR Capital will purchase from Overstock $30 million in tZERO Security Tokens. These tZERO Security Tokens were purchased by Overstock during the recently-closed tZERO Security Token Offering in a non-cash transaction in which Overstock forgave $30 million in tZERO intra-company debt. GSR’s Security Token purchase agreement replaces the GSR letter of intent previously announced on June 29, 2018.
The equity transactions are subject to definitive documentation and other customary closing conditions. They also provide GSR Capital with certain rights to allocate a portion of the investments to third-party designees.
“We are honored to have GSR Capital as a strategic investor,” said tZERO CEO Saum Noursalehi. “The tokenization of securities has the potential to disrupt global capital markets responsible for moving hundreds of trillions of dollars. Together with our partners, we will globalize our blockchain-based platform, bringing more efficiency, liquidity, and trust to capital markets.”
“GSR Capital has the prescience to understand the disruptive power of blockchain capital markets,” said Patrick M. Byrne, founder and Chairman of tZERO, and founder and CEO of parent company Overstock.com. “They are aligned with our vision for the future of capital markets built upon the speed, trust, and security of the blockchain. And most importantly, they think big, and want to help us scale this vision globally as quickly as possible.”
“GSR Capital is very excited to partner with tZERO in its effort to expand the global footprint for blockchain-enabled asset trading including stocks, bonds, commodities, etc. We have a long-term view on how we want to scale this platform on a global basis,” said GSR Capital’s Chairman and founder, Sonny Wu.
Sailor Dog
Elio Addict
Huge upsize since 6/29 to $404+M from GSR is no exagerration! Hopefully $1.5B (5 fold increase from $270M!) post cash valuation for tZero is solid as well!!! All bodes very well for ELIO...it's a slam dunk!!!
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raptor213
Elio Addict
So realistic expectations moving forward:
Possible ELIO STO listing on new tZero blockchain platform by Q1 2019;
Possible ELIO STO closing and funding by Q2 2019;
Potential customer deliveries of production Elio vehicles as early as Q4 2020?
With my SIL (#15820), I'm now looking at Q1 2021. That's being optimistic and expecting no further delays, with the 76-week (~18-month) timeline countdown to reach production and delivery readiness as soon as target funding is in hand.
:-/
Possible ELIO STO listing on new tZero blockchain platform by Q1 2019;
Possible ELIO STO closing and funding by Q2 2019;
Potential customer deliveries of production Elio vehicles as early as Q4 2020?
With my SIL (#15820), I'm now looking at Q1 2021. That's being optimistic and expecting no further delays, with the 76-week (~18-month) timeline countdown to reach production and delivery readiness as soon as target funding is in hand.
:-/
Sailor Dog
Elio Addict
Except the timeline has already begun. In addition, I was recently emailed that 2019 is still the production year.
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Correct, last time I talked to them, I was told the plan, unless something happens, is that production starts 2019.
And that's as much information as I could get out of them.
As much as I believe that is there intent, Elio has a history of changing plans. I'd be shocked if they get production under way less than 2 years after full funding. I think their roll out schedule is a bit optimistic.