On September 11, 2020, NODE Anstalt successfully completed the first Initial Public Token Offering of the SKL Token under the provisions of the Liechtenstein Blockchain Act (TVTG). Niederm\u00fcller Rechtsanw\u00e4lte advised the issuer on the public offering.<\/p>\n\n
As part of the Initial Public Token Offering, NODE Anstalt distributed over 167 million SKALE tokens (SKL) to over 4,600 subscribers from 90 different countries and raised a total amount of USD 5 million.<\/p>\n\n
Despite the fact that all interested subscribers had to go through a strict KYC and AML process to be eligible to purchase SKL tokens and the SKL tokens also come with a significant lock-up period for trading on the secondary market, the token offering was heavily oversubscribed. Although NODE Anstalt only publicly issued SKL tokens worth approximately USD 5 million, NODE Anstalt received subscription applications from accredited investors totaling more than USD 50 million.<\/p>\n\n
“We are proud and delighted that we have received such overwhelming interest in the public offer. This confirms that we are on the right track and encourages us to further expand the SKALE network to make it accessible to as many users as possible. We are now looking forward to launching the SKALE Network in the near future. It has been a pleasure to work with the entire team at Niederm\u00fcller Attorneys at Law, who have contributed greatly to making this token sale a success, and we count on their continued support.”<\/em> remarked Jack O’Holleran, Managing Director of SKALE Labs and Director of the NODE Institute.<\/p>\n\n We congratulate the entire team for making this first public offering a remarkable success. NODE Anstalt was supported by the teams of SKALE Labs, Consensys, Codefi Activate, Wyre, Compliance Labs Liechtenstein, Orrick Herrington & Sutcliffe and Niederm\u00fcller Rechtsanw\u00e4lte.<\/p>\n\n 9|2020<\/p>\n","protected":false},"excerpt":{"rendered":" On September 11, 2020, NODE Anstalt successfully completed the first Initial Public Token Offering of the SKL Token under the provisions of the Liechtenstein Blockchain Act (TVTG). Niederm\u00fcller Rechtsanw\u00e4lte advised the issuer on the public offering. As part of the Initial Public Token Offering, NODE Anstalt distributed over 167 million SKALE tokens (SKL) to over […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[43,44,46],"tags":[],"class_list":["post-589","post","type-post","status-publish","format-standard","hentry","category-banking-finance-en","category-blockchain-en","category-financial-markets"],"acf":[],"yoast_head":"\n