Upcoming ICO: Grand plans for Estonian startup

A small startup with a big plan has submitted documents with the SEC (Securities and Exchange Commission) to raise $180 in an upcoming ICO.

Upcoming ICO: Grand plans for Estonian startup

SAFT sale

According to reports in both CoinDesk and CNN, Estonian company, Newtech Myning OU has filed the notice to use the SAFT (Simple Agreement for Future Tokens) sale model. As detailed on the Notice of Exempt Offering of Securities Form D, the offering is for the ‘sale and issuance of rights to receive GoWeb in the future via a Simple Agreement for Future Tokens (SAFT). 

What is a SAFT?

A SAFT is an investment contract designed to help cryptocurrency startups raise money and keep within financial regulations, particularly if the investment maybe considered a security. They are offered to accredited investors only and are often a preferred means of raising funds without a public sale.

GoWeb tokens will be offered through the token sale which are fixed at $3 and there is a minimum of one token each available for purchase.

Unknown newcomer

According to the documents Newtech Myning OU was formed in 2018 as an Limited Liability Company. Other than the details on the filing there is little other information from the relatively unknown company. But awareness will certainly change if the startup does reach its hardcap of $180 and go down in ICO history as one of the most successful token sales to date. However, it is nowhere near Telegram’s approx. $2 billion presale event a few months ago.

Curious investors will have to watch this space for more information on this intriguing and so far vague ICO…

 

 

 

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