Telegram investors accept new terms of the launch of Gram tokens.

Telegram blockchain investors have chosen to remain in the project despite the recent requirement presented by the Securities and Exchange Commission against the offer of the Gram tokens of the messaging platform.

Both groups of investors, who provided USD 1.7 billion in two rounds of financing, agreed to accept extensions for the launch of Telegram Open Network (TON), after the deadline of October 23, according to a Russian media.

An email sent to investors, whose information was granted to CoinDesk, indicates the following:

“We are pleased to share with you that we have successfully obtained the consent of a significant majority of investors, both in presale and at the stage to extend the deadline for the launch of the network on April 30, 2020. We would like to thank everyone for your support. This extension allows us to proceed with the necessary regulatory work described in our last email.”

Telegram’s offer to accept the extension of the deadline was initially suggested to TON investors a week after the SEC’s order was issued on October 11, where it was established that the Gram token is a value.

Under the terms of the agreement, most ICO investors would be aware of the need to extend the token issuance date, or receive 77% of their investment back. Each investor cohort would have to accept these terms, which means that one of the groups could get a refund while the other would keep the investment under the promise of receiving Gram tokens. The token issuance has now been scheduled for April 30, 2020.

“We voted to wait, even though we are sure that Telegram will not be able to fix things with the SEC,” one of TON’s investors told media, under terms of anonymity.

He predicted that TON will be launched, but that it will lose the fight against regulators and, as a result, it will lose large markets such as the United States, Russia, China, and possibly some European countries. However, being an investor who bought Gram tokens at a price of 37 cents per token, he still hopes to generate money from this investment.

“There is a possibility that we get more than we would receive if Telegram returns the investments, and in the end, we do not invest too much.”

The terms of the agreement also include that Telegram may spend another USD 80 million of the ICO funds. According to the company, the seventh monthly period will be used to further develop the TON ecosystem.

The court citation, dated October 24, to address the issue of whether the Telegram Gram token is a value was also postponed until February 18 or 19 of next year. In a letter sent to investors dated October 21, Telegram described the citation delay as a positive development that would give him time to prepare his case:

“February citations are different from the citations initially scheduled for October 24, because these citations should only consider the possible delay of the launch of the platform. Both we and our advisors will use the time to ensure that, in the February citation, Telegram’s position is presented and supported as much as possible.”


Disclaimer: InfoCoin is not affiliated with any of the companies mentioned in this article and is not responsible for their products and / or services. This press release is for informational purposes information does not constitute investment advice or an offer to invest.

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