Security token offering platform Neufund has kicked off its next STO with the whitelisting process for Greyp, an eBike creator and a spinoff from Rimac Automobili, founded by e-vehicle entrepreneur Mate Rimac.
Rimacs is an electric vehicle manufacturer that has captured investors such as Porsche. Earlier this month, Porsche increased its stake in hypercar creator and technology tech firm and now owns 15.5% of Rimac Automobili thus indicating growing confidence in the success of the company (The C_Two electric car will begin shipping in 2020). Porsche owns a portion of Greyp Bikes too.
Greyp claims to be the “future of mobility” and the “next big thing.” The company previously raised €5 million in a Series A round. The STO on Neufund seeks to raise up to €4.8 million at a pre-money valution of €45 million.
The Greyp STO is an interesting blend of prior crypto offerings and compliant securities. Being issued under the jurisdiction of Lichtenstein, early investors may benefit from a 10% discount on the offering. As a shareholder, which is being issued under a Nominee structure, investors benefit from voting and dividend rights. At some point following the initial issuance, the tokens will become tradable. Greyp explains:
“Greyp is a high tech mobility company working on some of the worlds most progressive markets. We have already been recognized by the likes of Porsche AG and the largest Asian battery manufacturer, Camel Group. By using blockchain technology to tokenize our shares, we give the investors a new, modern way of investing, allowing for increased liquidity in the future secondary market as well as attracting multiple like-minded individuals who share our vision of future mobility.”
Greyp plans to follow in the footsteps of sister company Rimacs. First, Greyp will develop and manufacture eBikes to drive revenue. Then, the company plans to develop and manufacture hardware components for e-bikes, such as batteries and a “central intelligence module” (an operating system running the bike itself). All of these systems are modular and will be sold or licensed as B2B components to other OEM manufacturers.
This is an interesting early-stage company that is raising capital from a broader audience. Investor minimums for the Greyp STO start at €100 and go up from there.
The whitelisting process will take place over the next two weeks with the STO public sale happening during the following 30 days.
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