Let me explain. Over the past year we have built a pipeline of profitable middle market USA companies ranging from 3-8m USD each. We are issuing shares in this portfolio of companies on the blockchain via a token. The token will represent shares in all these companies. We will also do on-chain distributions.
-Charlie Shrem
Now I'm confused. The OP read like the tokens were being issued for a new fund that would just start off with the money and then go and invest it. But this comment sounds like the tokens represent a share in the profits from an established fund. Which is it, and if its the latter then what is the current value of your portfolio?
Good question!
The first 3 companies we are purchasing have been negotiated, under purchase agreement, and bank loan approved. We will be releasing a prospectus of these companies before the token offering.
Take the first company, a sanitary waste business. This business did 30% bargains last year and they have been in business 23 years.
The price is roughly 5M USD for the company. 1M will come from the token sale, and 4m will come from Intellisys personal bank debt (Intellisys is responsible for this debt, NOT the token holders)
We anticipate being able to close this first deal during the token sale.
Assuming we raise the 25M we anticipate, the funds will be deployed within the 1st year.
New article today:
https://www.cryptocoinsnews.com/charlie-shrems-private-equity-platform-to-hold-crowdsale-capped-at-25-million/-Charlie Shrem