HK’s GSR Capital To Invest $374M in Overstock, $270M Goes to Blockchain Subsidiary tZERO

Оригинал: https://cryptovest.com/news/hks-gsr-capital-to-invest-374m-in-overstock-270m-goes-to-blockchain-subsidiary-tzero/

US‐based e‐commerce retailer Overstock announced on Thursday that GRS Capital, a private equity firm from Hong Kong, will invest up to $270 million in its blockchain unit called tZERO. After the announcement, the stock price rose over 20% in after‐hours trading, to $45.40 per share.

The investment will be made based on a total valuation of tZERO at $1.5 billion, which gives GRS Capital an 18% share in Overstock’s blockchain subsidiary. Besides, the private equity firm will buy $30 million worth of tZERO security tokens from the US retailer. The Hong Kong‐based firm will invest another $104.55 million in shares of Overstock itself. Thus, the total investment coming from GSR reaches $374.55 million. 

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