This Marks the First Time a Tezos-Based Digital
Security Will Trade on a Regulated Platform
tZERO, a leader in financial innovation and liquidity for
private companies, announced today that secondary trading of the
St. Regis Aspen digital security commenced on the tZERO ATS,
marking the platform’s first third-party security. In addition,
this is the first digital security trading on a regulated platform
that utilizes the Tezos Blockchain. The shares represent
approximately 19 percent of ownership in the St. Regis Aspen
Resort, a five-star, 179-room luxury hotel that is located in
Aspen, Colorado.
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the full release here:
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Winter Exterior of the St. Regis Aspen
Resort (Photo: Business Wire)
tZERO CEO Saum Noursalehi stated, “We are thrilled to see the
St. Regis Aspen digital security trading on the tZERO trading
platform. Digitizing and trading private securities like Aspen will
be the future model that will enable broader investor access,
provide liquidity optionality, and reduce cost of capital.”
The issuer of the St. Regis Aspen digital security, Aspen
Digital, Inc., is managed by ER-RE, LLC., a subsidiary of New
York-based real estate asset management and advisory firm Elevated
Returns, LLC. The St. Regis Aspen Resort is the first digital
security within Elevated Returns’ portfolio. Elevated Returns
intends to tokenize roughly $1 billion of real estate projects
using the Tezos FA1.2 smart contracts in the future.
Elevated Returns President Stephane De Baets said, “We view
today’s announcement as an important step towards unlocking
liquidity to quality real estate projects, which has the potential
to open the door to a $60 trillion commercial real estate market.
tZERO has distinguished itself from its peers as the leading
liquidity platform for private assets, and we are excited to
provide investors with a venue to trade the St. Regis Aspen digital
security.”
tZERO is a technology firm with the goal of democratizing access
to private capital markets. tZERO is a subsidiary of Medici
Ventures, the blockchain-focused, wholly owned subsidiary of
Overstock.com, Inc. (NASDAQ:OSTK).
Investor Notice Investors should note that trading
digital securities could involve substantial risks, including no
guarantee of returns, costs associated with selling and purchasing,
no assurance of liquidity which could impact the price and ability
to sell, and possible loss of principal invested. Further, an
investment in single digital security could mean lack of
diversification and, consequently, higher risk.
No Offer, Solicitation, Investment Advice or
Recommendations This release is for informational purposes only
and does not constitute an offer to sell, a solicitation to buy, or
a recommendation for any security, nor does it constitute an offer
to provide investment advisory or other services by the tZERO or
any of its affiliates, subsidiaries, officers, directors or
employees. No reference to any specific security constitutes a
recommendation to buy, sell, or hold that security or any other
security. Nothing in this release shall be considered a
solicitation or offer to buy or sell any security, future, option
or other financial instrument or to offer or provide any investment
advice or service to any person in any jurisdiction. Nothing
contained in this release constitutes investment advice or offers
any opinion with respect to the suitability of any security, and
the views expressed in this release should not be taken as advice
to buy, sell or hold any security. In preparing the information
contained in this release, we have not taken into account the
investment needs, objectives, and financial circumstances of any
particular investor. This information has no regard to the specific
investment objectives, financial situation, and particular needs of
any specific recipient of this information and investments
discussed may not be suitable for all investors. Any views
expressed in this release by us were prepared based upon the
information available to us at the time such views were written.
Changed or additional information could cause such views to change.
All information is subject to possible corrections. Information may
quickly become unreliable for various reasons, including changes in
market conditions or economic circumstances.
Forward-Looking Statements This release contains
forward-looking statements. In addition, from time to time, tZERO,
its subsidiaries, or its representatives may make forward-looking
statements orally or in writing. These forward-looking statements
are based on expectations and projections about future events,
which is derived from currently available information. Such
forward-looking statements relate to future events or future
performance, including financial performance and projections;
growth in revenue and earnings; and business prospects and
opportunities. You can identify forward-looking statements by those
that are not historical in nature, particularly those that use
terminology such as “may,” “should,” “expects,” “anticipates,”
“contemplates,” “estimates,” “believes,” “plans,” “projected,”
“predicts,” “potential,” or “hopes” or the negative of these or
similar terms. In evaluating these forward-looking statements, you
should consider various factors, including, without limitation: the
ability of tZERO and its subsidiaries to change the direction;
tZERO’s ability to keep pace with new technology and changing
market needs; and competition. These and other factors may cause
actual results to differ materially from any forward-looking
statement. Forward-looking statements are only predictions. The
forward-looking events discussed in this release and other
statements made from time to time by tZERO, its subsidiaries or
their respective representatives, may not occur, and actual events
and results may differ materially and are subject to risks,
uncertainties and assumptions. tZERO, its subsidiaries, and its
representatives are not obligated to publicly update or revise any
forward-looking statement, whether as a result of uncertainties and
assumptions, the forward-looking events discussed in this release
and other statements made from time to time by tZERO, its
subsidiaries or its representatives might not occur.
About tZERO tZERO Group, Inc. and its broker-dealer
subsidiaries (tZERO) provide an innovative liquidity platform for
private companies and assets. We offer institutional-grade
solutions for issuers looking to digitize their capital table
through blockchain technology, and trade on a regulated alternative
trading system. tZERO democratizes access to private assets by
providing a simple, automated, and efficient trading venue to
broker-dealers, institutions, and investors. For more information
on tZERO, please visit https://www.tzero.com/.
tZERO is not a registered broker-dealer, funding portal,
underwriter, investment bank, investment adviser or investment
manager, and is not providing brokerage, investment banking or
underwriting services, recommendations or investment advice to any
person, and does not provide any brokerage services. tZERO takes no
part in the negotiation or execution of secondary market
transactions for the purchase or sale of securities and at no time
has possession of investor funds or securities in connection with
such transactions.
About tZERO ATS tZERO ATS, LLC is a broker-dealer
registered with the SEC and a member of FINRA and SIPC. More
information about tZERO ATS may be found at www.finra.org. Digital
securities that trade on tZERO ATS are conventional uncertificated
securities. Ownership of such securities is reflected on the
traditional books and records of regulated market participants. The
terms "digital" and “digital security” refer to the blockchain
technology elements of a security that are intended to enhance
investor experience through added transparency but have no
controlling or legal effect.
About Aspen Digital Aspen Digital Inc. is a Maryland
corporation that has been formed with the sole purpose of
indirectly owning a portion of the St. Regis Aspen Resort. Aspen
Digital is externally managed by ER-RE, LLC., which is a subsidiary
of Elevated Returns, LLC., a New York-based real estate asset
management and advisory firm. Shares of ASPEN were distributed to
accredited investors through a Reg D 506 (c) offering, which closed
in October 2018 and raised $18 million. Aggregate shares of ASPEN
represent approximately 19% indirect ownership interest in the St.
Regis Aspen Resort, and the remaining 81% is indirectly owned by
Elevated Returns. For more information, please visit
https://aspencoin.io/index.html.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200824005320/en/
tZERO Media Alexandra Sotiropoulos, +1-347-293-1416
asotiropoulos@tzero.com
Investors Michael Mougias, +1-347-293-1248
mmougias@tzero.com
Aspen Digital Jeffrey Schneider, +1-646-210-9367
Jeffrey@theleadpr.com
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