A mysterious startup based mostly out of Estonia has filed with the USA Securities ANd Exchange Commission to tell the agency that it intends to boost nearly $200 million through an initial coin providing (ICO).
According to public documents filed earlier this month, the firm — NewTech Myning OU — hopes to boost the maximum amount as $180 million by commercialism GoWeb tokens through easy Agreements for Future Tokens (SAFT). Token costs ar fastened at $3, and investors should buy as very little together token.
The document indicates that NewTech Myning was fashioned in 2018 as a liability company (LLC) which it’s based mostly out of capital of Estonia, Estonia.
The sale was filed beneath Regulation D, indicating that the corporate is seeking AN exemption from customary securities registration necessities. NewTech Myning OU aforesaid that they’re exempt from registration beneath Rule 506(c), which implies that solely licenced investors will contribute to the providing.
The documents reveal very little else regarding the corporate, however the GoWeb web site indicates that the tokens can entitle their homeowners to a group quantity of computing power from the firm’s cloud mining knowledge center. the web site additional states that GoWeb was fashioned in 2014, although if true it’s operated mostly under-the-radar.
Notably, Rainer Osanik, UN agency within the filing is listed as NewTech Myning’s business executive, doesn’t seem among the team members listed on the GoWeb web site.
If GoWeb with success reaches its exhausting cap, it may rank together of the ten most moneymaking token sales in 2018. per knowledge from CoinSchedule, ICOs have raised just below $10 billion in 2018, although simply eight comes have raised $100 million or additional (not as well as Greek deity, whose $4 billion ICO began in 2017).
However, it remains to be seen whether or not this little-known startup are ready to attract this level of capital.