We’re very excited to announce that the private round of the BABB equity crowdsale will go live on Tuesday 19th June at 12pm London time.
Please REGISTER HERE for the private round of the equity crowdsale.
We are aiming to raise at least £750,000 of our £1.5 million target during the private round. There is no cap on the private round, other than the overall cap for the equity crowdsale which is £4.2 million.
We are selling 1% equity in BABB per £1 million invested, based on a pre-money valuation of £100 000 000.
The private round is reserved exclusively for friends, family and the BABB community. We’ve got an extra-special deal for you, our early supporters, to take advantage of before the crowdsale goes public.
Private round perks
- Equity in BABB. You own 1 share in BABB for every £1 you invest.
- Investor BAX bonus. If you invest in the private round, you get 40 BAX tokens for every £1 you invest (minimum investment £100).
- BAX airdrop. If we hit our £1.5 million fundraising target on CrowdCube, everyone who participated in the token sale will receive BAX airdrop (even if they did not invest in the equity crowdsale).
Edit: the BAX airdrop will now be divided equally between everyone who participated in the token sale and all equity crowdsale participants (including public round).
We have increased the total BAX pool for airdrop and bonuses from 180 million to 200 million. The airdrop total will be calculated after BAX investor bonuses have been allocated, and then this total will be divided between everyone who is eligible to receive airdrop.
Crowdsale rewards
We are also offering perks to investors based on the size of their contribution. These are available to everyone participating in the equity crowdsale, including the private round.
All investors will get:
Priority access to test the BABB alpha app
Original-issue BlackCard
Invest at least £1,000
All of the above, plus:
BABB t-shirt
Premium account free of charge for a year
Invest at least £5,000
All of the above, plus:
BABB notebook, pen and tote bag
Invitation to BABB investor meetup
Exclusive ‘investor’ BlackCard
Invest at least £10,000
All of the above, plus:
Membership of BABB Club (access to events such as press conferences, launch parties, post-AGM gala dinner in London)
Please REGISTER HERE for the private round of the equity crowdsale.
Who can join?
The private round of the equity crowdsale is reserved for friends and family of the BABB team along with our community of early supporters.
You are a member of our community if you bought BAX in the token sale or afterwards from Bancor or an exchange, if you follow us on social media or of you subscribe to our email newsletters.
Investor conditions
There are a few conditions to be aware of before investing in the equity crowdsale…
- If you are a US citizen you must be an accredited investor.
- If you are a Canadian citizen, it will be very challenging to invest due to regulations. You must instruct a lawyer to advise you, and your lawyer must provide assurance to CrowdCube that your investment is legal.
- You need to create an account with CrowdCube in order to invest.
- The minimum investment is £10, and the minimum investment to get the BAX bonus is £100.
- Airdrop and bonus will be distributed after the sale has finished
- Investing in the equity crowdsale buys shares in BABB Group Ltd.
Why an equity crowdsale?
BABB is applying for a banking license. We’re making good progress in Lithuania and the UK and preparing to submit formal applications.
Now that the banking license application process is advancing, we must turn our attention to the minimum capital requirement, which is paid to the relevant central bank as a type of insurance. Every licensed bank is required to provide this.
After seeking legal advice and speaking to the regulators in the UK and Lithuania, we have come to the conclusion that we can’t use the funds raised in the token sale for this capital requirement.
The banking license is of critical importance to the BABB project, and the minimum capital requirement is vital to obtain a banking license. It’s therefore important that we keep control, so we have decided to raise funds via equity crowdfunding.
An equity crowdsale gives our early supporters the opportunity to own a stake in the company, and it’s a chance for us to grow our awesome community even further by introducing ourselves to a new audience of people.
What’s next?
Make sure you register here — you must register in order to get your invite to invest in the private round.
You can also create an account on the CrowdCube website so that you’re ready to invest when the private sale opens.
We have created a separate Telegram group for the equity crowdale — if you have any questions please join this group to get answers.
We will release the business plan via email early next week, so please register now so that you don’t miss it.
The private round of the equity crowdsale will open at 12pm London time on Tuesday 19th June. You will get an email invitation to invest, along with specific instructions. Look out for it in your inbox!
