The big crypto news all last week was the announcement that Kodak, a company that was founded in 1888, was launching an initial coin offering for a new photography rights platform. The news tripled the market capitalization of Kodak almost immediately as the cool blockchain aura lifted the price per share of a company better known for film based photography. The minting of KODAKCoin’s will take place in partnership with California based Wenn Digital.
The details on the Kodak ICO are expected shortly but yesterday we may have had a glimpse of what to expect.
In a filing with the Securities and Exchange Commission, Wenn Digital submitted a Form D (506c) to raise up to $6.75 million. The type of security for sale is indicated as a sale and agreement to issue tokens. A minimum investment of $50,000 is required. Jan Denecke is listed as one of the related parties in the securities offer.
While $6.75 million is not a large amount for an ICO this may be the pre-sale for vetted accredited investors.
Regardless, we should know soon enough as the offer is expected to go live in less than two weeks at the end of the month.
— Jan Denecke (@jan_denecke) January 9, 2018
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