HydroMiner’s Capital Market Prospectus is approved
First approved capital market prospectus for a security token offering in the European Union goes to HydroMiner.
We are very proud to announce that HydroMiner’s capital market prospectus for the offering of the H3O token in Austria and Germany finally was approved by the Austrian Financial Market Authority. The capital market prospectus spans 258 pages and was approved on November 26, 2018. The capital market prospectus is published on HydroMiner’s website, see: https://www.hydrominer.org/investor-relations.
It was a long and challenging way to the approval — it took almost one year and a lot of pioneering work from the HydroMiner team, our legal advisors Stadler Völkel Attorneys at Law and the financial regulator in Austria. The whole team is very happy to have finally accomplished the most important step on the road to crypto-compliance!
What does an approved prospectus mean?
A prospectus is a document which describes an offering of securities to potential buyers and includes a detailed description of the company’s business and the offering the company would like to make. The issuance of a blockchain-based security token in the EU is a public offering of securities that requires the prior approval of a prospectus.
“Based on the prospectus, HydroMiner is now in the position to make the first prospectus-based Security Token Offering the European Union has seen.”
Dr. Oliver Völkel, LL.M. (CLS), Legal Advisor to HydroMiner
The tokenized securities offered by Hydrominer in Austria and Germany, the H3O token, are qualified subordinated profit participation rights. Holders of profit participation rights have a right to participate in the profit and loss and in the hidden reserves and goodwill of HydroMiner. In German, this is also called a ‘Substanzgenussrecht’, a common form of corporate financing in Austria. In addition to financial claims, holders of H3O tokens have the right to actively participate in the business decisions of HydroMiner. This right goes well beyond regular shareholder rights and allows investors to participate actively in decision-making processes. In addition, the securities provide for a sort of tag-along right in the event that a qualified majority of the owners of HydroMiner sell their shares.
Details of the offer
Details about the public offering of H3O tokens can be found online on our website, see: https://www.hydrominer.org/H3O.
H3O Token Swap
After the subscription period for H3O tokens starts, HydroMiner will offer holders of H2O tokens to sell their H2Os to HydroMiner under the condition that the purchase price for these H2O tokens must be reinvested to subscribe to H3O tokens. 1 H2O token will equal 50 H3O tokens. Holders of H2O tokens have to go through the same subscription process including the same whitelisting as any other subscriber of H3O tokens. Most likely the token swap as described above will be available from February 1, 2019.
We will soon inform you in detail about the next steps. Please stay tuned!
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Note: The information contained herein is meant exclusively for marketing purposes of Hydrominer IT-Services GmbH. This is not an offer of tokenized profit participation rights nor an invitation to make such offer. The public offer of tokenized profit participation rights of Hydrominer IT-Services GmbH is made in Austria and Germany exclusively on the basis of the prospectus approved on November 26, 2018, including any supplements which may be available at the seat of Hydrominer IT-Services GmbH at Wiedner Hauptstraße 65, 1040 Vienna, Austria, and at www.hydrominer.org/investor-relations. Investments in tokenized profit participation rights of Hydrominer IT-Services GmbH are subject to various risks, which can lead to the total loss of the invested capital.