Blockchain Law: ICO Regulation and Other Legal Considerations in the Blockchain Ecosystem

Guest post by Dror Futter, Rimon PC

During 2017, blockchain and its progeny Bitcoin and initial coin offerings (ICOs) became “big news.” By the end of the year, news of new record highs for Bitcoin and eight- and nine-figure ICOs became almost daily events. As block-chain has entered the mainstream and the dollars at stake have exploded, it has become clear that this exciting technology has raised and will continue to raise issues across a broad range of legal disciplines.

Continue reading

Prime Unicorn Index: Q2 Trend Report

Original Post By: Prime Unicorn Index

The Q2 2018 Prime Unicorn Index Trend Report is an analysis of 100 components that comprised the Index in the second quarter of 2018. The Index includes both unicorns and “approaching unicorns,” which are private companies with a valuation of at least $500 million. Valuations for individual components are determined by an analysis of various documents, such as: Certificates of Incorporation, Employee-Plan Exemption Notices, Limited-Offering Exemption Notices, Annual Report filings, Form Ds, bankruptcy filings, and many more sources. Utilizing all sources, we can extract key Deal Terms, such as: Round of Financing, Round Direction, Liquidation Preference, Liquidation Multiple and Dividend Rate. The report analyzes the different trending deal terms for a more granular picture of the capitalization structures surrounding the Q2 2018 Index components.

Q2 Trend Report 2018

Prime Unicorn Index: 9 New Components Added, Returns Skyrocket

Original post by: Prime Unicorn Index

The Prime Unicorn Index added nine constituents and dropped seven in its quarterly reconstitution, for a total of 102 index components as of Q3 2018.For 2018 (Q1& Q2) the return has increased 18.38%. Currently, we are tracking 102 U.S.-based private companies in the Index, with a median market cap of $991 million. The Index’s total market value has increased to $270 billion. Key upside drivers affecting Index performance include successful IPOs (Dropbox, Pivotal Software, Avalara, Docusign, Zuora, and Carbon Black) and primary funding rounds (including Bird Rides, Automation Anywhere, ezCater, Lyft, JUUL, and more).
Q3 Reconstitution Report 2018

As more high-performing companies defer or eliminate plans to go public, the demand for information and investment exposure to this growing portion of the American economy has soared. The Q3 Prime Unicorn Reconstitution Report provides more information on the new nine constituents and how they compare against the Index.

LimeBike Authorizes $300M at $1B Valuation

Original Post by Prime Unicorn Index

LimeBike filed an Amended and Restated Certificate of Incorporation on July 3, 2018 authorizing the sale of up to $300M shares of Series C Preferred Stock. If all shares are sold the company will have a post-money valuation north of $1B, making it the newest Unicorn.

Here’s a look at the Price Per Share increase from March of 2017 through July 3, 2018:

 

Learn More About The Prime Unicorn Index

Update: Bird Rides Files For Another $150M, 2 Weeks After Authorizing $200M

Original Post By: Prime Unicorn Index

Bird Rides, an electric scooter sharing service, filed another Amended and Restated Certificate of Incorporation on 6/15/2018 authorizing $150M of Series C-1 Preferred Stock. If all of the authorized shares are issued then the Post-Money Valuation would be north of $2B.

Funding began only a year ago for the scooter company with a Seed round investment of $4M, followed by Series A and B at $14.48M and $94.75M respectively. On June 1 Bird Rides Authorized $200M of Series C Preferred Stock, 2 weeks later they authorized $150M of Series C-1. Below is the share price analysis for the Preferred Stock.

 

Learn More About The Prime Unicorn Index

Bird Rides Files For A $200M Round, Valuation North of $1B

Original Post By: Prime Unicorn Index

Bird Rides, an electric scooter sharing service, filed an Amended and Restated Certificate of Incorporation on 6/1/2018 authorizing $200M of Series C Preferred Stock. If all of the authorized shares are issued then the Post-Money Valuation would be north of $1B, making them a Unicorn.

Funding began only a year ago for the scooter company with a Seed round investment of $4M, followed by Series A and B at $14.48M and $94.75M respectively. Below is the share price analysis for the Preferred Stock.

 

Learn more about the Prime Unicorn Index

%d bloggers like this: