The company tZERO, a subsidiary of the retail giant Overstock, raised $ 134 million in a regulated token, according to a press release.
It should be noted that initially the company intended to raise $ 250 million. Overstock Chairman Patrick Berne on the first day of tokenail that tZERO raised $ 100 million, which some community representatives questioned.
Then it turned out that many large investors from Asia faced significant difficulties in trying to invest in the enterprise. This, according to Berne, was the reason for the slowdown of the entire fund-raising process.
It also became known that the Hong Kong investment company GSR Capital intends to invest $ 400 million in tZero and Overstock. At the same time, an agreement on the acquisition of tZero tokens for $ 30 million and Overstock shares for $ 104 million has already been signed.
GSR Capital will repurchase the share of tZero in the amount of $ 270 million, when the company's capitalization will reach $ 1.5 billion. It is noteworthy that last month the media reported about GSR Capital's intention to buy tokens for $ 160 million.