Week Ending 09.07.2018

 

“THEY’VE GOT THE VISION TO DO GREAT THINGS”

REEBONZ SEEKS NASDAQ LISTING AFTER MERGER, NEW YORK CITY REAL ESTATE COIN PLANS ICO AND MORE ↓

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MERGERS AND ACQUISITIONS

Draper Oakwood Technology Acquisition, the New York City-based blank check company, said it is merging with Singaporean luxury marketplace Reebonz. Reebonz’s current management will run the combined company, which will operate under the Reebonz name. The company tracks the ownership of used luxury goods with blockchain and will seek a Nasdaq listing. The deal values Reebonz at USD 252m including debt.

Seven Stars Cloud, the New York City-based AI and blockchain services firm, said it acquired marketing platform Grapevine Logic. Terms weren’t disclosed. Seven Stars Cloud said last week it is changing its name to Ideanomics. 

In late August the company said shareholders, which include Sun Seven Stars Investment and Hong Kong Guoyuan Group Capital, may raise USD 111m from the sale of 37.7m shares they hold in the company. It originally filed in April. In June, Seven Stars hired Richard Frankel as chairman and CEO and Manuel Ron as COO at its digital advisory services subsidiary, Red Rock Global Capital.  

Wuhan General Group (China), the Pointe-Claire, Canada-based blockchain company, said it plans to spin off its Canadian technology business called Strategic Development of Technology. The unit makes industrial batteries and is exploring AI and blockchain technologies for use in mining, agriculture and construction. Both companies will trade over the counter. 

Other deals included Ebix and Kingsland University


FILINGS

AIS, the Nagoya, Japan-based cryptocurrency trading platform, said it and CEO Takehiro Abe plan to raise USD 360,000 from the sale of 12m shares at USD 0.03 each in an over the counter listing. 

And Canada’s Cascadia Consumer Electronics said it is changing its name to Cascadia Blockchain.


FUNDING

New York City Real Estate Coin, the New York City-based property fund, said it plans an initial coin offering in the fourth quarter of this year.

Geopulse Exploration, the Los Angeles, California-based company developing a logistics and consumer platform for the cannabis industry with blockchain, said it hired the advisory firm Applicature for its upcoming initial coin offering. In August Geopulse said it had hired Zuber, Lawler and Del Duca’s Josh Lawler to advise on the offering.

Horizon Globeth, the Baar, Switzerland-based company developing internet communications and a blockchain based payments service, is raising USD 35m from an initial coin offering of ethereum-based VOX tokens. 

Ternio, the Atlanta, Georgia-based blockchain firm, plans to raise USD 10m. San Francisco, California-based US Capital Global is arranging the transaction. Ternio raised USD 3m in an initial coin offering in June.

The9, the Shanghai, China-based mobile game developer, said it is selling cryptocurrency trading platform Plutux and one of its shareholders 7m American depositary shares at USD 2.14 per ADS in a deal that will raise USD 14.98m. The9 will also take a minority stake in Plutux. 

At the same time, The9 said its CEO Jun Zhu plans to buy USD 3m worth of the company’s shares on the open market.

In June, the Nasdaq notified the company that it is again compliant with listing regulations. At that time, The9 said it has "stepped into" blockchain-related business.  

Leonovus, the Ottawa, Canada-based company developing software for data storage using blockchain, said it plans to launch an initial coin offering before the end of the year. A whitepaper will be released before the end of October. It first announced its intention for an ICO in December last year. The company said it is in discussions with the Ontario Securities Commission and Toronto stock exchange operator to ensure compliance with existing regulations.

Altcoin.io, the San Diego, California-based cryptocurrency exchange, said it raised nearly UD 1m through WeFunder, the crowdfunding site. 

Share Internet Data (SID), the Spanish company developing technology for smartphones to share content over blockchain, has raised USD 3m from David Drake, the founder of crypto-focused LDJ Capital. SID is currently conducting a private token sale.

Other deals included Petroteq Energy and Vault


LEGAL & REGULATORY

No new legal and regulatory matters were covered in the areas we track this week.


PEOPLE

Uphold, the San Francisco, California-based cryptocurrency trading platform, said co-founder JP Thieriot is taking over as CEO from Adrian Steckel, who is leaving to run satellite broadcaster OneWeb. 

Devvio, the Albuquerque, New Mexico-based blockchain company focused on the financial sector, said it hired Ray Quintana as global president. Quintana joins from venture capital fund Cottonwood Capital Partners. 

Songtradr, the Los Angeles, California-based licensing platform, said it hired Clare Nicholls as CFO. Nicholls will work out of the company’s London office and integrate blockchain into Songtradr’s offering. She has worked on TMT desks at UBS, ABN Amro and Salomon Brothers. 

AlphaPoint, the New York City-based blockchain services firm, said it hired Kevin Held as CFO. He was the CFO of TradingScreen.

The company has brought in half a dozen new executives since May. It hired Ned Myers as head of product, who will be in charge of the company’s marketing efforts. Myers joins from Black Knight, where he ran the capital markets and government businesses in the data and analytics division.

Srikant Manda was brought in as chief information security officer. He previously led security architecture and engineering teams at Juniper Networks and Fortinet. The week before that it appointed Fisher Cataliotti partner Katya Fisher to the board of directors. The law firm is focused on blockchain, cybersecurity, cryptocurrency and artificial intelligence.

AlphaPoint, which is developing corporate auditing software, hired Kristin Boggiano as chief legal officer in July. She was most recently senior regulatory counsel at Guggenheim Asset Management.

In June, the company hired former Nasdaq executive Michael Schmidt as chief human resources officer and raised USD 15m in a Series A from Galaxy Digital Ventures.

Fortress Blockchain, the Vancouver, Canada-based bitcoin mining company, said Michael Costa has joined the board as an independent director, while director Kent Wakeford has resigned for unspecified reasons. Costa is a portfolio manager at Goodman & Company.  

Other hiring included Phoenix Finance


DATA

No new sets of data were released in the areas we track this week


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