tZero Filing Indicates $8.1 Million Sold So Far in $250 Million Private Placement ICO

tZero, the company that wants to be the one digital asset exchange to rule them all, has filed a Form D (506c) with the Securities and Exchange Commission (SEC).

According to the filing, $8.107 million in equity has been sold with the date of the first sale being December 21, 2017. tZero is required by law to file with the SEC 15 days after the first sale.  The document indicates tZero expects to sell $250 million in preferred equity in total.  Previously, tZero claimed its offering to be the “first-ever preferred equity security token” to be issued and traded. The security will be tokenized and is live on Saftlaunch now.

Patrick Byrne, the founder of Overstock (NASDAQ:OSTK) is listed on the document as a principle in the company. Byrne is rather bullish on cryptocurrencies in general and has championed the future of digital assets. At one point, Byrne boasted the tZero ICO will be the largest ever. If it hits $250 million that may be the case, depending on some other offers in the pipeline.

Crowdfund Insider previously reported that the tZero ICO had received more than $100 million in commitments during the first 12 hours of the pre-sales offer. Additionally, more than 10,000 subscribers have reportedly registered for accredited investor status. The $8.1 million most likely represents the verified and validated investors so far.

tZero expects the ICO pre-sale to run through January 18, 2018. tZERO will then enter into SAFEs with strategic purchasers identified by the company as accredited investors. During the period from January 18, 2018 to February 16, 2018, tZERO will enter into SAFEs with other accredited investors.

tZero says its platform will integrate with trade participants to create a real-time, authenticated, transactions all on the blockchain. tZero will operate as a regulated exchange and platform.

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