- Exodus has raised $60million to put up the sale of its stocks approved by the Securities and Exchange Commission (SEC).
- The sale will be open to Exodus’s non-accredited investors who do not get the chance to participate in the sale.
Exodus, the mastermind of the non-custodial crypto wallet in the U.S., has put the stocks on sale and raised $60million since April 8. The deal has been given a green signal by the Securities and Exchange Commission (SEC).
Exodus accepts crypto for raising capital
The company put around $75 million shares upon sale last week at a price of $27.42 per stock. But Exodus did not accept the money in dollars. Instead, the company took the three crypto-assets stored in ita wallets, namely Bitcoin, Ethereum and USDC stablecoin. The company plans to tokenize the shares on a public blockchain in 9 months.
The firm has also approached the non-accredited investors who are often left out of securities sales. The Regulation A deal has given Exodus a nod to take this new route. Sebastian Milla Goni, COO, Exodus, seems to be very optimistic about this sale and compares it to an ICO 2021. The company can perform better and tackle complaints, being transparent and offer the profitable company a working product.
What is ICO?
ICOs are known as Initial Coin Offerings. Through them, the crypto startups can raise money from everyday people. In exchange, investors get tokens that can be used later on that project’s platform on which the investor has invested the capital for the crypto startup.
As per the press release released on April 12 from Exodus, more than 4,000 people have invested in Exodus stocks. Among them, 92% are non-accredited investors. The sale is open to U.S. investors outside of Arizona, Florida and Texas.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.