11 September, 2019
New York's Blockstack has reportedly completed the investment round with funding reaching $23 million. The token sale was held upon green light from the US Commodities and Exchange Commission.
The company representative stated that Blockstack managed to receive $15.5 million from the sale of more than 74 million STX tokens in the USA under the Reg A+ framework. At the same time, the rest of the sum of Reg S investments ($7.6 million) came from Asian investors.
"We are pleased to announce that the sale period for Blockstack’s SEC-qualified token offering ended yesterday, and we announced our Asia strategic round earlier," reads the press release.
According to the available information, more than 4,500 individuals and companies took part in the round, including such US venture players Union Square Ventures, Lux Capital. Meanwhile, the Asian round was led by Hashkey and SNZ.
Besides, it is planned to distribute tokens among users within a 30-day period with received funds to be spent on the financing of further development and campaigns to attract new clients and developers.
Blockstack is the first company that got SEC approval for Reg A+ token sale. For reference, small companies can get investments from the wide audience while regulatory requirements are less stricter than for IPO in that case.