Nori SAFT price schedule update

Paul Gambill
Jan 23 · 2 min read

If you’ve read the Nori White Paper (jump to page 50), then you’ve seen the description of our exempt securities sale using the Simple Agreement for Future Tokens (SAFT). The SAFT is the mechanism we’re using to conduct our sale under the Regulation D 506(c) exemption to American securities laws. I’ve written before in a different post on how we’re conducting a compliant security sale in the US.

These SAFTs are being sold to both Nori customers and Nori investors right now, and we wanted to inform the public on some upcoming price changes that will begin to go into effect on March 1st, 2019.

We have two different classes of SAFTs:

Class A SAFTs carry a requirement that their first use be to buy a Carbon Removal Certificate in the Nori marketplace. They cannot be resold by investors seeking a return. We created this class for selling to customers so that we could show our suppliers that there is pre-existing demand for their CRCs. This is also the lowest-cost way for customers to participate in the Nori marketplace after it launches.

Class B SAFTs do not have the same use requirement. This class is meant for investors who plan to eventually resell on the open market in order to realize their investment.

Both classes of SAFTs cannot be used until one year has passed from the date of the SAFT contract being signed. This is a requirement from using Regulation D.

We’ve been really honored so far to not only raise over $145,000 in our Republic crowdfund campaign, but also to have sold SAFTs to early believers in the Nori market. We’ve been making enormous progress in building our market—particularly in our pilot projects with farmers to generate Carbon Removal Certificates. By investing now, you are receiving the best possible price for which we’re offering these SAFTs.

Below is the new schedule for pricing the Class A and B SAFTs. If you are an accredited investor or are located outside the United States, please apply to participate in our sale by filling out this form.

One more thing…

If you are an accredited investor, and choose to invest at least $50,000, we will honor that price tier at that volume of purchase for the remainder of the SAFT offering. For example, if you are a Class B investor and choose to purchase $100,000 during the $0.25 Class B price round, you will have the option during the $0.50 and $0.80 rounds to purchase up to $100,000 more at the $0.25 price.

And, of course, later on you can also purchase tokens at whatever the higher price of that tier is, over and above the amount you’re entitled to buy at the lower locked-in price.

Nori

Nori is on mission to reverse climate change. This is our blog.

Thanks to Christophe Jospe and Ross Kenyon.

Paul Gambill

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I’m into blockchains, decentralizing, and reversing climate change. CEO of https://nori.com. @paulgambill www.paulgambill.com

Nori

Nori

Nori is on mission to reverse climate change. This is our blog.