Providing broader access to the Stacks token is an important goal for us. That’s one of the reasons why we worked with regulators on the first ever SEC-qualified public token offering. Today, we filed a Form 1-U with the SEC disclosing that more than 75% of our general offering is subscribed. The sale will close on Mon Sep 9th at 11:59pm Eastern Time.
We’re excited to have thousands of retail investors join our ecosystem as Stacks owners. New community members are already adding value to the ecosystem by using apps, and helping to improve the open-source project.
We also disclosed in the SEC Form 1-U that:
a) We’re currently in discussions with wallet providers for potential wallet integrations for the Stacks token and potentially getting a subset of their users to register on the Blockstack network.
b) We’re currently in discussions with international (non-US) exchanges for potential listings of Stacks tokens in Oct or later. US persons will not be able to trade on such initial international exchanges.
Below is a quick summary of Blockstack updates in the last two months:
- July 2019: Blockstack offering becomes the first-ever SEC-qualified token offering. The Wall Street Journal, CNBC, Fox Business, and Yahoo! Finance covered us.
- July 2019: App Mining program expands and plans to pay developers a total of $1M in STX per month by May 2020.
- July 2019: Blockstack announces Asian strategic round led by Hashkey and SNZ, with participation from Fenbushi, Fundamental, and other top Asian funds.
- July 2019: Blockstack releases Q2 2019 investor update. The total number of independent apps/startups built on Blockstack went from 86 to 165 in Q2.
- Aug 2019: Blockstack (YC S14) announces a partnership with Lambda School (YC S17) where every Lambda student will have the opportunity to learn to build on Blockstack.
- Aug 2019: Recruit Holdings, one of the biggest Japanese internet companies, announces a strategic investment in Blockstack to help bring privacy-focused apps to the Japanese market.
- Aug 2019: Total number of independent apps/startups built on Blockstack crosses 200.
- Sep 2019: Total number of independent apps/startups built on Blockstack crosses 250.
We’re excited about the upcoming quarters and to welcome new members to our community.
Closing of the SEC-qualified offering:
The Stacks token offering closes on Monday, Sep 9th, 2019 at 11:59 p.m. Eastern Time. For more information on the sale, please visit stackstoken.com. ACH and wire payments may take 1-4 business days. Crypto payments can be received same-day. Any wire payments initiated on or before Mon Sep 9th may need additional “proof of payment” sent to [email protected] if not received before the deadline.
Prospective investors should review the full offering circular at stackstoken.com/circular and visit stackstoken.com/faq. For specific requests, you can connect with Blockstack at [email protected].
Important disclaimer
The Securities and Exchange Commission (SEC) has qualified the offering statement that we have filed with the SEC. The information in that offering statement is more complete than the information we are providing now, and could differ in important ways. You must read the documents filed with the SEC before investing. The offering is being made only by means of its offering statement. This document shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
An indication of interest involves no obligation or commitment of any kind. Any person interested in investing in any offering of Stacks Tokens should review our disclosures and the publicly filed offering statement and the final offering circular that is part of that offering statement here. Blockstack is not registered, licensed or supervised as a broker-dealer or investment adviser by the SEC, the Financial Industry Regulatory Authority (FINRA) or any other financial regulatory authority or licensed to provide any financial advice or services.
Forward-looking statements
This communication contains forward-looking statements that are based on our beliefs and assumptions and on information currently available to us. In some cases, you can identify forward-looking statements by the following words: “will,” “expect,” “would,” “intend,” “believe,” or other comparable terminology. Forward-looking statements in this document include, but are not limited to, statements about our plans for developing the platform and future utility for the Stacks Token, our Reg A+ offering and launch of our network, and collaborations and partnerships. These statements involve risks, uncertainties, assumptions and other factors that may cause actual results or performance to be materially different. More information on the factors, risks and uncertainties that could cause or contribute to such differences is included in our filings with the SEC, including in the “Risk Factors” and “Management’s Discussion & Analysis” sections of our offering statement on Form 1-A. We cannot assure you that the forward-looking statements will prove to be accurate. These forward-looking statements speak only as of the date hereof. We disclaim any obligation to update these forward-looking statements.