New York based decentralized web infrastructure platform has filed to raise a $50m token sale that would leverage the SEC's Regulation A+ crowdfunding exemption.
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Blockstack Files With SEC to Raise $50 Million in Reg-A+ Crypto Token Sale
While the move still requires regulatory review, the sale would enable Blockstack to raise capital through the U.S. securities markets via a subsidiary, Blockstack Token LLC, which would sell a token called Blockstack Stacks (STX) in a securities offering designed to be more flexible than an IPO. Introduced in 2012 under the JOBS Act, the Regulation A+ exemption enables equity crowdfunding campaigns to offer and sell securities to U.S. investors via two tiers, either for $20 million or $50 million, each over a 12-month period. A company can initiate a Regulation A+ offering by filing an offering statement with the SEC, which Blockstack officially submitted today.
