A token platform subsidiary of Overstock, tZero, wrapped up its STO at 11:59 PM Eastern Daylight Time and firmly announced that there will not be any extensions.
What will you be missing out on?
Close to participating in an Initial Coin Offering, you can buy tokens which you can trade, sell, or hold – whatever you like. But unlike the traditional ICO, wherein your rights and obligations are limited, tokens purchased in an STO are backed up by the company’s assets, profits, or revenue.
tZero “focuses” on the “development and commercialization of financial technology (FinTech) based on blockchain technologies.”
According to Patrick Bryne, Overstock.com’s founder, the platform already attracted $100 million from 2,000 investors in December last year.
In their statement, they “stated” that “investors with fully executed Simple Agreements of Future Equity (SAFEs) have until 5 PM (EDT) Wednesday, August 8 to remit funds to tZERO.” Furthermore, the company plans to reveal the results of the STO during Overstock’s earning call, this coming thursday, August 9.
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