tZERO is sharing that the McNeill Investment Group is raising money on its Securities platform. tZero has inched into online capital formation, having listed several securities offerings. The platform is listing the offering under Reg D 506c and is thus only available to accredited investors. In the past, tZero has also listed securities under other crowdfunding exemptions.
The offering page indicates that McNeill is hoping to raise up to $100 million, selling common shares in the company. The target IRR is 15% with a target equity multiple of 3X. The offering is “perpetual” with “structured liquidity opportunities.”
McNeill Investment Group is “a nationally-recognized hospitality real estate investment platform with over $500MM of assets under management across nearly 3,000 hotel rooms throughout the United States.”
This is an important step in “the democratization of capital raising in pre-IPO companies using a transparent and self-directed platform operated by tZERO Securities, an SEC and FINRA-regulated broker-dealer.”
tZERO CEO David Goone said:
“We are thrilled to launch the McNeill Investment Group capital raise under our new tZERO Securities brand. We continue to launch services for high quality sponsors reflecting the tZERO’s broad scope and market-leading position.”
Christopher Ropko, Managing Director, Chief Executive Officer of McNeill Investment Group, called the offering a landmark day for his company as they aim to access new high quality investors.
As covered, tZERO Group, Inc. (tZERO) and its broker-dealer subsidiaries “provide an innovative liquidity platform for private companies and assets.” tZero has been an early mover in the digital securities sector, which has struggled to gain traction due to entrenched participants and hesitant regulators.
Today, the company aims to offer institutional-grade solutions “for issuers looking to digitize their capital table through blockchain technology and trade on a regulated alternative trading system.”
tZERO, through its broker-dealer subsidiaries, “democratizes access to private assets by providing a simple, automated, and efficient trading venue to broker-dealers, institutions, and investors.”
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