tZERO has announced that its security tokens are now available to trade by non accredited invetors. Previously, only accredited investors could trade in the digital security.
tZERO is a blockchain-focused subsidiary of Overstock (NASDAQ:OSTK). tZERO is both a trading and primary issuance platform focused on incorporating blockchain into the creation of securities.
According to a release, today preferred equity security tokens (TZROP), issued in a private placement in August 2018, are now available to be resold under Rule 144 under the Securities Act of 1933. Investors with an account at Dinosaur Financial may trade their tZERO security tokens on the PRO Securities alternative trading system (ATS).
Investors seeking to purchase or resell tZERO security tokens who do not have an account at Dinosaur Financial may visit Dinosaur and create an account.
tZERO CEO Saum Noursalehi commented on the availability of the digital asset:
“Following the one-year anniversary of the close of our security token offering, non-accredited investors now have the ability to purchase and trade in our security tokens. Today marks another milestone as we further democratize access so all investors, regardless of net worth, can invest in the business opportunity of a blockchain-based capital market.”
tZERO noted that, subject to approval from tZERO’s Board of Directors and in accordance with the terms of the tokens, tZERO may distribute a quarterly dividend equal to 10% of tZERO’s adjusted gross revenue to its security token holders.
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