The Cooley legal team posted a statement November 8, 2017 regarding their client Finova Financial's unveiling of the JOBS Crypto Offering:
Finova Financial Unveils JOBS Crypto Offering
Cooley advised Finova Financial on the creation of a fundraising process known as a JOBS crypto offering or JCO. The offering, when completed, will give investors the opportunity to invest in equity ownership of previously privately held companies using cryptocurrency. This regulated public securities offering would allow non-accredited investors to use cryptocurrency to invest in established companies.
“We think the JCO has the potential to have a massive impact on the way startups raise funds, while creating some much-needed regulatory clarity in the crypto investing space,” said Sheel Mohnot, partner at 500 Startup.
JCOs are designed as a hybrid of initial coin offering investments, which allow companies to raise capital more readily through cryptocurrency investments, and a traditional IPO. In a JCO, tokens representing ownership of shares of capital stock would be tracked on a distributed ledger, or blockchain, and would be sold pursuant to a registration statement filed under the Securities Act or, for a transaction exempt from registration under the Securities Act, pursuant to Rule 251 under the Securities Act.
JCOs are the brainchild of fintech entrepreneur Gregory Keough, current CEO of Finova and former CEO of Mobile Financial Services, a MasterCard and Telefonica joint venture for mobile financial services.
“I liked the idea of the ICOs when they were first introduced, as they looked like an exciting way for startups to raise funds from small investors, but I had concerns about regulatory compliance practices, especially for tokens that are clearly securities,” said Keough. “I designed the JCO as a process to open the doors of opportunity for the small investor, allowing them to participate using cryptocurrency in security offerings in compliance with SEC regulations. I envision the tokens sold in JCOs being listed on an alternative trading system, creating a liquid security and providing companies with an alternative to a traditional initial public offering.”
Read Finova's announcement: http://www.businesswire.com/news/home/20171108005411/en/Finova-Financial-Announces-JOBS-Crypto-Offering-JCO
About Cooley LLP
Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, where innovation meets the law.
Cooley has 900 lawyers across 12 offices in the United States, China and Europe.
Read the statement here: https://www.cooley.com/news/coverage/2017/2017-11-08-finova-financial-unveils-jobs-crypto-offering
About Finova Financial
Working to transform the future of banking on a global scale, Finova Financial develops fair and affordable digital financial technologies to create a more inclusive financial system and provide a path to financial health for the 2 billion people outside of the traditional financial system.
Founded in 2015 by a team of financial services, technology and payment experts, Finova has raised $155M in capital and is backed by leading Silicon Valley venture capital firms and Wall Street private equity investors and had one of the largest initial funding rounds in FinTech history. The firm has generated over $2 million in 2017 revenue to date, with an annual ROIC of 101.7%.
For more information: https://www.finovafinancial.com/
"Concern Over Legal No-Man’s Land of #ICO Inspires New Digital Coin #Investment Model: #Jobs #Crypto Offering" https://blog.finovafinancial.com/index.php/2017/12/08/concern-over-legal-no-mans-land-of-initial-coin-offerings-inspires-new-digital-coin-investment-model-jobs-crypto-offering/
"World’s First Equity-Linked Token, Finova Financial’s #JCO to be Available through @Wefunder #Crowdfunding Platform" https://www.businesswire.com/news/home/20171212005452/en/World%E2%80%99s-Equity-Linked-Token-Finova-Financial%E2%80%99s-JCO-WeFunder
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
The OP has been updated with the new one-pager. Check it out, learn more about Finova and their JCO!
https://bitcointalk.org/index.php?topic=2472839.msg25334233#msg25334233
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.cooley.com/news/coverage/2017/2017-11-08-finova-financial-unveils-jobs-crypto-offering
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hello & Cheers!! I'm a content detection and information bot. You are receiving this reply because a short link or links have been detected in your post/comment. The purpose of this message is to inform your readers and yourself about the use of and dangers of short links.
To the readers of the post: Short links are provided by url shortening services. The short links they provide can be useful in some cases. Generally their use is benign. But as with all useful tools there are dangers. Short links can be used to hide all sorts of things. Quite frequently they are used to hide referral links for instance. While not dangerous this can be deceptive. They can also be used to hide dangerous links such as links to phishing sites, sites loaded with malware, scam sites, etc. You should always be extremely cautious before clicking on one. If you don't know and trust the poster don't click. Even if you do you should still be cautious and wary of any site you are sent to. It's always better to visit the site directly and not through a short link.
To the author of the post: While short links may be useful on some sites they are not needed on steemit. You can use markdown to format your links such as this link to steemit. It's as simple as
[steemit](https://steemit.com)Unlike short links this allows the reader to see where they are going by simply hovering over the link before they click on it.Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit