Mystery Startup Tells the SEC It's Raising A $180 Million ICO

A little-known company in Estonia is looking to raise as much as $180 million in a SAFT sale, public records show.

A Notice of Exempt Offering of Securities published on June 4 through the U.S. Securities and Exchange Commission’s EDGAR document system shows that a firm called NewTech Myning OU is looking to raise the funds by selling what are effective promises the distribution of tokens at a future time. To date, a number of blockchain startups and projects have raised money using the SAFT model.

Per the form, the offering is for the “sale and issuance of rights to receive GoWeb tokens in the future via a Simple Agreement for Future Tokens.”

But as it stands, there’s scant information about the company involved or its planned token. Business registry information published online indicates that NewTech Myning was first established in March.