SIMEX Digital Asset Exchange announces the beginning of the public offering of its convertible preferred shares: 10 million shares at the price of $20 per share are offered.
Public offering meets official SEC requirements.It is intended to use the raised funds to boost the liquidity of the SIMEX cryptocurrency called SMX tokens and develop new services offered by the platform. The offer will last till March 1st, 2019 or until the shares are fully sold out.
Buy SMX tokens for cryptocurrency
Investors are able to purchase the shares for BTC, ETH, Litecoin, Dash, EOS. SIMEX tokens can be bought using Simex smart contract and then be converted to SIMEX’s shares at the rate 20 SMX tokens for 1 preferred share.
SMX tokens give additional bonuses to their owners, such as a reduced trading commission when trading on the SIMEX Exchange (the discount rate depends on the number of tokens on account) and additional discounts for services and products offered by the SIMEX platform when paying with SMX tokens. For more information see the related post in our the SIMEX blog.
Receive dividends from preferred shares
When buying SMX tokens, we reserve an equal amount of preferred shares of the American Retail Group Inc. for you. The right to receive dividends on a preferred shares is given on condition that the share is held by the shareholder for at least 90 calendar days before dividends payout.
It is important to add, that as soon as the price of the common shares reaches $40 on the US public trades, preferred shares will be converted to the common shares at the rate 1:1.
The offering will run till 03/01/2019 or finish earlier if the shares are sold out.
Check the SIMEX ICO section for more details.