Week Ending 10.28.18
BITBUY ACQUIRES CBIX
PEERSTREAM UPSIZES NASDAQ UPLIST
ALGORAND RAISES USD 60M AND HIRES CEO
MERGERS AND ACQUISITIONS
Bitbuy, the Toronto, Canada-based cryptocurrency trading platform, said it acquired CBIX, the bitcoin index. Terms weren’t disclosed.
Protect Pharmaceuticals, the Mumbai, India-based drug developer, said it acquired assets and tokens from the American cryptosales platform Tobit. Terms weren’t disclosed.
PeerStream, the New York City-based blockchain services firm, said shareholders, which include a J. Crew trust fund and co-founder Clifford Lerner, raised to 1.2m the number of shares on offer in a Nasdaq uplist from the original 800,000 shares.
The shares were worth USD 6m based on the USD 5.00 share price quoted in the filing. The original sale would have raised USD 4.6m based on the USD 5.75 over the counter price at the time. Lerner resigned in June. The company changed its name in March and was previously known as Snap Interactive.
Other filings include Bravatek Solutions
Zhonjinhuifu Resources, the Hong Kong-based mining company, plans to raise USD 200m over a two year period from financings that include security and utility token offerings, according to a statement from the company’s advisor Ideanomics. Zhonjinhuifu is a unit of Beijing-based conglomerate Big Thumb.
Ideanomics (formerly called Seven Stars Cloud), the New York City-based AI and blockchain services firm, is also planning to list a logistical joint venture it is forming with APEN Trade Tech in China by the end of the year.
Algorand, the Boston, Massachusetts-based business service firm using blockchain, said it raised USD 62m in a funding round from unidentified investors. The company also hired a new CEO and COO. (See People section for more details)
MYTVCHAIN.COM, the Malta-based sports broadcasting network on blockchain, said it is raising EUR 30m (USD 34m) in an initial coin offering.
Spiking, the Singapore-based blockchain services firm, raised USD 30m in a private token sale, according to a TechinAsia report. The company tracks the largest cryptocurrency traders.
RigoBlock, the Lugano, Switzerland-based asset manager using blockchain, said it plans to raise up to USD 10m in a security token sale.
Origin Agritech, the Beijing, China-based rural e-commerce firm using blockchain, said it is raising USD 7.7m from the sale of 1.4m shares to Longhan Investment Management, which focuses on government backed projects in food security.
Impresso Labs, the Lausanne, Switzerland-based company developing human resources services on blockchain, said it is planning to launch the private sale of an at least USD 3m initial coin offering on November 8. Details are here and here.
DelphX Capital Markets, the Toronto, Canada-based fixed income trading firm using blockchain, said it has raised CAD 1m (USD 765,245) in a private placement targeting three times that amount.
Minds, the New York City-based social network using blockchain, said it raised USD 6m in a Series A from Medici Ventures, the venture capital unit of Overstock.com, the online discount retailer focused on blockchain investments.
Earlier this month the fund invested an unspecified amount in VinX, the Israeli company developing wine futures trading on blockchain.
Synthetic Minds, the San Francisco, California-based blockchain company, said it raised USD 5.5m in a seed round led by Khosla Ventures and Pantera Capital.
Bitfury, the Amsterdam, Holland-based cryptocurrency mining equipment maker, is considering an initial public offering, at a valuation of at least USD 3bn, in Amsterdam, London or Hong Kong as early as next year, according to a Bloomberg report.
Other deals include GameXCoin
LEGAL & REGULATORY
There were no legal & regulatory matters we tracked this week.
Algorand, the Boston, Massachusetts-based business services firm using blockchain, said it hired serial entrepreneur Steve Kokinos as CEO and former Oracle executive W. Sean Ford as COO. Kokinos most recently co-founded Fuze, the business messaging company.
The company also completed a new funding round. (See Funding section for more details)
Bloq, the Chicago, Illinois-based blockchain developer, said it hired former Fidelity Investments executive Hadley Stern as COO.
Bloq raised USD 12m from the initial coin offering of 8m tokens of the new cryptocurrenct Metronome in a “Dutch auction” in August with half going to just three investors, according to media reports. Dutch auctions start with the highest price possible and falls until a buyer is found. The company had originally planned to raise the funds by the end of last year.
PeerNova, the San Jose, California-based company providing blockchain data services to the financial sector, said it hired former Morgan Stanley executive Mark Jennis as global head of customer engagement. Former BNY Mellon executive Suresh Kumar is also joining the board.
HBUS, the San Francisco, California-based cryptocurrency trading platform, said it hired former Google executive Tiffani McCoy as general counsel.
No data sets we are tracking were released.