• Jun. 28, 2017, 2:20 pm

Mainstreet Investment touts upcoming sale

Mainstreet Investment LP has released details of its token sale planned for January.

Mainstreet Investments LP is a Cayman Island limited partnership issuing a digital token security backed by real assets. Its Initial Token Offering Memorandum specifies Mainstreet’s goals and objectives according to fund general partner Intellisys Capital. The fund will be led by Intellisys CEO Jason Granger and CTO Charlie Shrem.

CEO Jason Granger

CEO Jason Granger

“We want to be as upfront and transparent as possible about the token offering and what investors can expect,” Mr. Shrem said. “We’re raising the bar when it comes to raising funds through an initial token offering.”

The crowdsale of 50 million Mainstreet tokens is slated to commence Jan. 15 and run until Mar. 15. They can be purchased with either bitcoin or ether. The sale cap is $25 million. There is a 10 percent holdback for additional investment and working capital needs for existing ones. Any unsold tokens will be burned immediately following the sale.

The following pricing schedule is in effect:

  • Weeks 1 & 2: 900 MIT/BTC
  • Weeks 3 & 4: 750 MIT/BTC
  • Remaining weeks: 500 MIT/BTC

Bulk discounts are available.

Intellisys will help Mainstreet invest the sale proceeds with middle-market American operating companies, fund-of-funds, and real estate projects with will increase investor awareness and attract future opportunities.

“What we are attempting to achieve will merge investment, securities law and technologies in a way that has not yet been done,” Mr. Granger said.

Intellisys will be holding an Ask Me Anything (AMA) live video session, open to any members of Coinfund’s Slack channel where the event will be broadcast on Wednesday, Dec. 21 starting at 11 a.m. (EST). Sign up at slack.coinfund.io.

A full copy of the offering memorandum with complete details on the token sale can be found on the Intellisys and Mainstreet websites at intellisys.ai and mainstreet.ky.

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