Cryptocurrency

Neufund Aids Greyp Bikes to Pool 1.44m Euro via Equity Token Offering

The globally reputed blockchain-supported fundraising platform Neufund has broadcasted important news about the successful completion of equity token offering or ETO by Croatian automobile firm Greyp Bikes. Taking pride in being an affiliate of Rimac Automobili, the manufacturer of the world’s most powerful hypercar, Greyp Bikes has raised 1.44 million euros ($1.59 million) during the process against the targeted investment of 805,617 euro.

According to the reports published on Neufund’s website, Greyp’s ETO was initiated on October 14, 2019, and witnessed active participation of a total of 1,017 investors. The firm held a presale and a public sale for the interested investors before closing the ETO on November 27, 2019. The data reports on the website affirmed that the ETO had placed the firm’s pre-money valuation at 45 million euros. It also delivered that an in-signing process is currently taking place and shall continue until January 26, 2019. The investors shall be able to claim their tokens after this due date.

During the ETO, the value of each Greyp token was 0.16167 euro, and a total of one million tokens were equivalent to the value of one share. The firm strived hard to trade a minimum of 6 and a maximum of up to 30 shares to the interested investors who participated in the ETO at a price of 161.87 euro each. It targeted to achieve fresh financing of up to 4.8 million euro.

The ETO had a bar on the minimum investment and it was fixed at 100 euros. The shares could also be paid in the form of Ethereum’s native cryptocurrency. The firm aims to give a dividend to the investors in cryptocurrency only.

It was in September this year that Neufund received a positive nod from Liechtenstein’s Financial Monetary Authority to launch offerings for retail investors. Greyp Bikes’ ETO was the first equity offer supported by Neufund.

“By using blockchain technology to tokenise 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,” read Greyp’s prospectus posted in Neufund’s website.

The prospectus affirmed that the firm is currently focusing on the expansion of B2C services in the European e-bike marketspace. Special attention is being paid to the DACH region (Germany, Austria, and Switzerland). B2B services are available worldwide.

Mate Rimac is the renowned founded of Grey Bikes and holds 42% shares in the company. China-based Camel Group owns 17% shares, Porsche Engineering Group has an 11% stake, business personality Adriano Mudri has 11% shares, China Dynamics owns 7%, and 4% is held by New Automotive Development LLP. The remaining share percentage is held by the shareholders.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.
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