NEW YORK, Feb. 14, 2018 /PRNewswire/ -- Bitzumi, Inc. ("Bitzumi" or the "Company"), a digital content and asset platform that plans to enable users to transact in the cryptocurrency and blockchain marketplace, today announced it will launch its Regulation A+ offering at 12 p.m. EST on www.bitzumicorp.com, allowing any investor the opportunity to own stock in the Company. With the goal of raising $10 million USD, Bitzumi is offering 4,000,000 shares at $2.50 USD per share. The Company has filed a listing application with the NASDAQ Stock Market to list its common stock.
Bitzumi also announced that it has entered into a strategic joint venture transaction with Acacia Research Corporation (NASDAQ: ACTG), which included an initial $1 million equity investment in Bitzumi. Under the Joint Venture Agreement, Acacia will provide various patent-related services to Bitzumi and has the option to invest up to an additional $9 million to acquire Bitzumi common stock. Pursuant to Acacia's initial investment, Acacia received a short-term warrant to purchase $4 million in Bitzumi shares and under the Joint Venture Agreement, Acacia has a right to acquire up to an additional $5 million of Bitzumi shares at a price of $2.50.
Co-founded by leading cryptocurrency expert James Altucher and Wall Street veteran Scot Cohen, with a team of seasoned executives from digital media, marketing, product and technology, Bitzumi's mission is to own the industry's high-intent search traffic by becoming the largest gatekeeper of quality cryptocurrency and blockchain-related content and products.
Bitzumi is building a next generation decentralized exchange and acquiring a network of crypto and blockchain related digital properties. The Company aims to connect users to the best crypto services through highly-engaged and trusted content, crypto product reviews enhanced by technology and smart infrastructure. Planned future products include a cryptocurrency exchange, digital wallet and educational products.
"It is a unique time to invest in the crypto and blockchain business," said Bitzumi founder and executive chairman, Scot Cohen. "We see the trend in global trading volume and search traffic relating to cryptocurrency and blockchain continuing. Bitzumi does not bet on any one cryptocurrency but rather on the growth of the industry."
"In launching Bitzumi's Reg A+ offering, we hope to offer all investors the opportunity to participate in what we anticipate will be the next seismic shift in the way all business is conducted," said Bitzumi co-founder James Altucher.
According to CoinMarketCap.com, there are over 1,500 cryptocurrencies in circulation with a total market cap of $428 billion. The total market cap is expected to surpass $1 trillion in 2018.
To invest and for more information about the Bitzumi offering, visit www.bitzumicorp.com.
Co-founded by James Altucher and Scot Cohen, Bitzumi is a digital content and asset platform that plans to enable users to transact in the cryptocurrency and blockchain marketplace. Bitzumi is building a next generation decentralized exchange and acquiring a network of crypto and blockchain related digital properties.
For more information about Bitzumi, please visit www.bitzumicorp.com.
About Acacia Research Corporation
Founded in 1993, Acacia Research Corporation (NASDAQ: ACTG) is an industry leader in patent licensing and partners with inventors and patent owners to unlock the financial value in their patented inventions. Acacia bridges the gap between invention and application, facilitating efficiency and delivering monetary rewards to the patent owner. Acacia also leverages its patent expertise and background to invest and partner in emerging disruptive technologies such as Artificial Intelligence, Robotics, and Blockchain.
An offering statement regarding this offering has been filed with the SEC. The SEC has qualified that offering statement which only means that Bitzumi, Inc. may make sales of the securities described by that offering statement. It does not mean that the SEC has approved, passed upon the merits or passed upon the accuracy or completeness of the information in the offering statement. You may obtain a copy of the offering circular that is part of that offering statement HERE. You should read the offering circular before making any investment.
The offering materials may contain forward-looking statements and information relating to, among other things, Bitzumi, Inc., its business plan and strategy, and its industry. These forward-looking statements are based on the beliefs of, assumptions made by, and information currently available to the company's management. When used in the offering materials, the words "estimate," "project," "believe," "anticipate," "intend," "expect" and similar expressions are intended to identify forward-looking statements, which constitute forward-looking statements. These statements reflect management's current views with respect to future events and are subject to risks and uncertainties that could cause Bitzumi, Inc. actual results to differ materially from those contained in the forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Bitzumi, Inc. does not undertake any obligation to revise or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.
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