Business Wire

Finova Financial Announces The JOBS Crypto Offering (JCO): A Path To A Regulated Public Securities Offering for Non-Accredited Investors Using Cryptocurrency

Jaa

Finova Financial, a digital financial services provider transforming the future of global banking, announced today the creation of a fundraising process known as a JOBS Crypto Offering (JCO) which, when completed, will give investors the opportunity to invest in equity ownership of previously privately-held companies using cryptocurrency.

The JCO is a hybrid of initial coin offering investments (ICOs), which allow companies to raise capital more readily through cryptocurrency investments and an initial public offering of stock. In a JCO, “tokens” representing ownership of shares of capital stock would be tracked on a distributed ledger or blockchain (Tokens) and would be sold pursuant to a registration statement filed under the Securities Act or a transaction which is exempt from registration under the Securities Act pursuant to Rule 251 under the Securities Act (i.e. Regulation A+).

The JCO is the brainchild of serial fintech entrepreneur, Gregory Keough, who is the current CEO of Finova Financial and former CEO of Mobile Financial Services, a MasterCard and Telefonica Joint Venture for mobile financial services globally.

“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,” noted Finova CEO, Gregory 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.”

“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, 500 Startups.

JCO: How it Works

The JOBS Crypto Offering (JCO) is a new financing process that allows for companies to issue securities to the general public in exchange for cryptocurrency or other funds in compliance with SEC regulations. Ownership of such securities would be represented by entries in a distributed electronic network or database maintained by or on behalf of the Company in accordance with Section 224 of the Delaware General Corporation Law, which we refer to as Tokens. The Tokens would be listed on an Alternative Trading System that is compliant with Regulation ATS under the Securities Exchange Act of 1934, as amended.

For more information, visit: http://jco.finovafinancial.com

*About the JOBS Act

Passed in 2012, the Jumpstart Our Business Startups Act (JOBS Act) was designed to help small businesses raise capital by easing certain securities regulations, expanding options for entrepreneurs to seek out everyday investors to raise capital and grow their companies via online crowdfunding platforms. The JOBS Act was also known as the Crowdfund Act because under Title III it created a way for businesses to use crowdfunding to raise capital by issuing securities – which had never been done before. Along with the crowdfunding aspects of the JOBS Act, the act also changed a number of laws and regulations to make it easier for companies to raise capital privately and go public.

About Finova Financial

Working to transform the future of banking on a global scale, National Financial Holdings, Inc. (known as “Finova”) develops fair and affordable digital financial technologies to create a more inclusive financial system and provide a path to financial health for the two billion people outside of the traditional financial system. Founded in 2015 by a team of financial services, technology, and payment experts, Finova is backed by leading Silicon Valley venture capital firms and Wall Street private equity investors.

For more information: www.finovafinancial.com

Contact information

Finova Financial
Media Contact:
Meredith Klee, 415-684-9407
meredith@innercirclelabs.com
or
Company Contact:
Silvana Puello, 561-517-9256
silvana.puello@finovafinancial.com

Tietoja julkaisijasta

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Tilaa tiedotteet sähköpostiisi

Haluatko tietää asioista jo ennen kuin ne uutisoidaan? Kun tilaat tiedotteemme tältä julkaisijalta, saat ne sähköpostiisi yhtä aikaa suomalaisen median kanssa. Tilauksen voit halutessasi perua milloin tahansa.

Lue lisää julkaisijalta Business Wire

European Commission Extends License for Janssen’s ZYTIGA® Plus Prednisone / Prednisolone to Include Earlier Stage Prostate Cancer Patients20.11.2017 16:30Tiedote

Janssen-Cilag International NV (Janssen) today announced that the European Commission (EC) has granted approval to broaden the existing marketing authorisation for ZYTIGA® (abiraterone acetate) plus prednisone / prednisolone to include an earlier stage of metastatic prostate cancer than its current indications. Abiraterone acetate plus prednisone / prednisolone can now be used for the treatment of newly-diagnosed high-risk metastatic hormone-sensitive prostate cancer (mHSPC) in adult men in combination with androgen deprivation therapy (ADT).1 “Prostate cancer is the most common form of cancer in men throughout Europe and today’s decision helps to fill a critical medical need for these patients. We hope to significantly improve the lives of many men across Europe living with this disease and the approval of this treatment in an earlier stage of prostate cancer helps address this,”

Leading Broker ActivTrades Wins Le Fonti Forex Broker of the Year Award for the Second Time20.11.2017 16:30Tiedote

ActivTrades, one of the world’s leading online Forex Brokers, has won the Le Fonti Forex Broker of the Year Award for the second year running. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171120005576/en/ ActivTrades was awarded at the Le Fonti Awards (Photo: Business Wire) A UK-regulated firm with offices in Europe and the Middle East, ActivTrades was selected as the winner by the editorial staff of over 120 journalists at Le Fonti, the international and independent media company and research centre. Le Fonti credited the broker for “aiming to maximise its clients’ trading through a unique mix of superior value proposition, diverse product offering and stellar customer service”. Le Fonti’s judges added that ActivTrades offers “some of the tightest spreads in the industry” a

Boehringer Ingelheim Makes Many of Its Best Molecules Openly Available to the Scientific Community Via opnMe.com To Unlock Their Full Potential20.11.2017 16:00Tiedote

Boehringer Ingelheim today announced the launch of opnME.com, a new platform offering free and open access to selected pre-clinical molecules for non-clinical investigation to scientists worldwide. Through opnME.com, molecules for some of the most relevant targets in biomedical research are shared, thereby creating possibilities for further independent and collaborative discovery as well as the identification of novel treatment approaches for patients. “Working together with scientists across the world, we can accelerate research in a wide range of biomedical research areas,“ said Clive R. Wood, PhD, Senior Corporate Vice President, Discovery Research at Boehringer Ingelheim. “This exciting new initiative further expands Boehringer Ingelheim’s global external innovation footprint and will help unlock the full potential of some of our most interesting compounds. By sharing these compoun

Norsk Titanium Announces Strategic Investment from Rose Park Advisors’ Disruptive Innovation Fund20.11.2017 16:00Tiedote

Norsk Titanium, the metal additive manufacturing pioneer, today announced it has closed on a significant investment from Rose Park Advisors’ Disruptive Innovation Fund, known for its application of the theory of Disruptive Innovation® developed by co-founder Clayton Christensen. Terms of the investment were not released. “This strategic investment from Rose Park Advisors underscores the ability of Norsk Titanium’s Rapid Plasma Deposition™ (RPD™) technology to disrupt the metal manufacturing processes,” said Norsk Titanium Chairman of the Board John Andersen, Jr. “There are few people that are as widely respected by more business leaders than Dr. Christensen. We are humbled by his recognition of our technology and business model.” “Our strong relationships in commercial aerospace have allowed us to improve our processes and create a platform technology under the watchful eyes

LivaNova Enters into Binding Letter of Intent to Sell its Cardiac Rhythm Management Business Franchise to MicroPort Scientific Corporation for $190 Million20.11.2017 11:43Tiedote

LivaNova PLC (NASDAQ:LIVN) (“LivaNova”) and MicroPort Scientific Corporation (HK:00853) (“MicroPort”) today announced that the companies have entered into a binding Letter of Intent (“LOI”) for the sale of LivaNova’s Cardiac Rhythm Management (“CRM”) Business Franchise to MicroPort for $190 million in cash. The CRM Business Franchise develops, manufactures and markets products for the diagnosis, treatment and management of heart rhythm disorders and heart failures. CRM products include high-voltage defibrillators, cardiac resynchronization therapy devices and low-voltage pacemakers. The CRM Business Franchise generated approximately $249 million in net sales in fiscal year 2016 and has approximately 900 employees with operations chiefly in Clamart, France; Saluggia, Italy; and Santo Domingo, Dominican Republic. MicroPort is a leading medical device company, focused on innova

Chugai's Bispecific Antibody Emicizumab Meets Primary Endpoint in Phase lll Study20.11.2017 11:29Tiedote

Chugai Pharmaceutical Co., Ltd. (TOKYO:4519) announced today that the primary endpoint has been met for the global phase lll HAVEN 3 (NCT02847637) study evaluating emicizumab (ACE910) subcutaneous injection, once a week and once every two weeks, in patients with hemophilia A (12 years of age or older) without inhibitors to factor Vlll. A statistically significant reduction in the number of bleeds was confirmed in patients treated with emicizumab prophylaxis compared to those receiving no prophylactic treatment. The study also met a secondary endpoint that once-weekly emicizumab prophylaxis was superior to factor VIII prophylaxis, as demonstrated by a statistically significant and clinically meaningful reduction in treated bleeds in an intra-patient comparison of patients receiving emicizumab prophylaxis compared to their prior factor VIII prophylaxis. The most common adverse events with em

Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.

Tutustu uutishuoneeseemme