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MGT Capital Investments INC (MGT)

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TeraExchange recently launched the first and only U.S. regulated trading platform for bitcoin swap contracts. By offering a bitcoin derivative product with regulatory structure and controls, TeraExchange created an exciting opportunity for institutional investors to confidently participate in bitcoin the marketplace



HARRISON, N.Y., Feb. 27, 2015 /PRNewswire/ -- MGT Capital Investments, Inc. (NYSE MKT: MGT) announced today that it has entered into a Letter of Intent ("LOI") with Tera Group, Inc., ("Tera") owner of TeraExchange, LLC, a Swap Execution Facility regulated by the Commodity Futures Trading Commission ("CFTC").  Pursuant to the LOI, both companies will work diligently to finalize and execute a definitive agreement by March 16, 2015.

MGT will then file a combination S-4 Prospectus and Proxy Statement with the Securities and Exchange Commission.  Under the contemplated terms of the agreement, and subject to stockholder approval, MGT will issue shares of its common stock to the current owners of Tera, representing 70% of the pro forma equity of the combined companies at closing.

Tera has played a leading role in the development of bitcoin derivatives. In September 2014, Tera launched on TeraExchange the first regulated Bitcoin derivative products, and a spot Bitcoin price index.  Trading of USD/Bitcoin derivatives is subject to the rules and regulations of TeraExchange and the CFTC.  The Tera Bitcoin Price Index ("TeraBit") employs a dynamic algorithm that compiles and filters data on a real-time basis from a number of widely utilized global Bitcoin spot exchanges.  The TeraBit Index will be used as the settlement rate for USD/Bitcoin derivatives transactions.  

"Growing consumer and merchant adoption of bitcoin is driving demand for regulated capital markets solutions. By combining with MGT, Tera will create a unique public offering to support the essential infrastructure needed for a vibrant global bitcoin ecosystem," said Christian D. Martin, Chairman, Chief Executive Officer and Co-Founder of Tera.

"The proposed merger with Tera gives immediate and future value to our stockholders, while creating a robust platform for the growth of the industry's first publicly listed bitcoin derivatives exchange," said H. Robert Holmes, Chairman of MGT's board of directors, "The Bitcoin industry attracted over $400 million of investment capital from some of the world's most prominent investors over the past 12 months; we see our move today as further progress in the broader adoption of the industry."

Tera is led by a talented management team with a combined 47 years of experience in capital markets and derivative products, 43 years in legal and regulatory, and 46 years in technology development and engineering.

Mr. Martin spent more than 20 years in senior trading and management positions at Merrill Lynch and Bank of America, where he was responsible for global trading desks of interest rates, credit, and financing - securities lending transactions.

President, COO and Co-Founder Leonard T. Nuara was formerly a shareholder in the international law firm of Greenberg Traurig LLP.  Prior to that, he was Chair of the Technology and Intellectual Property Group at Thacher Proffitt & Wood LLP.  He is a nationally recognized leader in the technology and intellectual property fields.

Chief Commercial Officer John Maguire spent 18 years at Goldman Sachs, where he held various roles, including interest rate and cross asset derivative sales, marketing, and business development. Mr. Maguire is also the former Global Head of Trading at Bridgewater Associates, the largest hedge fund in the world.

Source Capital Group, Inc. acted as sole financial advisor to Tera Group.

About MGT Capital Investments, Inc.
MGT Capital and its subsidiaries operate social and real money gaming sites online and in the mobile space, including ownership of the 3rd largest daily fantasy sports wagering platform,  The Company also offers games of skill through and social casino games with SlotChamp™, and also operates an online portal for fantasy sports news and commentary,  MGT also launched Daily Fantasy Legend in partnership with Facebook to become the First Daily Fantasy Platform on Social Media.  In addition, the Company owns intellectual property relating to slot machines and has asserted its claims via patent infringement lawsuits.

About Tera Group, Inc.
Tera Group owns TeraExchange LLC, a Swap Execution Facility (SEF) regulated by the Commodity Futures Trading Commission and provides market participants with access to Bitcoin derivatives, interest rate swaps, credit default swaps and non-deliverable forwards.  TeraExchange is a global pioneer in the derivatives marketplace and provides a multi-asset class platform for trading of an array of financial instruments.





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MGT News: Current Report Filing (8-k) 01/29/2016 04:44:54 PM
MGT News: Securities Registration Statement (s-1/a) 01/13/2016 05:18:09 PM
MGT News: Current Report Filing (8-k) 01/07/2016 06:03:41 AM
MGT News: Prospectus Filed Pursuant to Rule 424(b)(5) (424b5) 12/18/2015 05:31:02 PM
MGT News: Current Report Filing (8-k) 12/18/2015 08:31:19 AM
#1194   This was up 50%+,Then to negative.. damnnnn (MGT) Tdash 02/03/16 11:08:16 AM
#1193   wooo whats happening here Tdash 02/03/16 09:38:38 AM
#1192   Breakout coming kingsolomon 01/29/16 03:37:20 AM
#1191   MGT - TIME TO BUY! - pennystockextreme 01/26/16 09:26:09 AM
#1190   MGT - MASSIVE ACCUMULATION ON FRIDAY! WHERE IS pennystockextreme 01/24/16 07:54:56 AM
#1189   MGT Nice Volume again something good is brewing!! pennystockextreme 01/15/16 04:33:14 PM
#1188   MGT volume alert moving North! BUY NOW!! pennystockextreme 12/24/15 12:39:59 PM
#1187   MGT = SCAM going to .01 & then less. focus2011 10/15/15 06:21:42 AM
#1186   just another laugh...$5 million of promissory notes and Alpha66 09/10/15 04:06:33 PM
#1185   14,157,165 shares or other units outstanding of each Liquid_Bull 08/25/15 01:15:41 PM
#1184   MGT = Might get Terminated. willlbone 08/24/15 02:04:47 PM
#1183   I see they've announced another LOI for another Arizzle 06/15/15 01:57:40 AM
#1182   What happened to that bogus merger with the Arizzle 06/04/15 05:49:57 PM
#1181   will keep going right on up next week..... Chance 04/25/15 08:33:33 AM
#1180   This is one its way back up :-) MARKSMAN 04/23/15 12:22:11 PM
#1179 benjmurts 04/07/15 08:30:01 AM
#1178   Very nice. Still waiting to see on that merger MARKSMAN 04/06/15 07:26:04 PM
#1177   Nice day here...merger coming??? PROPHETABLE 04/06/15 07:09:33 PM
#1176   Article: Disney (DIS) investment values DraftKings at $900M (!) 3DPrintInvestor 04/06/15 01:40:41 PM
#1175   How's that merger coming? Arizzle 03/26/15 02:28:54 PM
#1174   I agree and that would be sweet! bman 03/25/15 05:13:23 PM
#1173   Nice! PROPHETABLE 03/25/15 02:58:22 PM
#1172   If we can get merger news soon this benjmurts 03/25/15 11:50:47 AM
#1171   .54s weeeee MARKSMAN 03/25/15 11:19:42 AM
#1170   Nice news! bman 03/25/15 10:26:25 AM
#1169 benjmurts 03/25/15 09:49:28 AM
#1168   interesting 30k buy DRspin 03/20/15 10:16:49 AM
#1167   Great news but no spike ? benjmurts 03/19/15 04:14:56 PM
#1166   Great points and im with you on the aaronxtrades 03/19/15 03:34:28 PM
#1165   seems like a few players want out today...guess DRspin 03/19/15 02:30:26 PM
#1164   This companys market car is sub 5 million Greenrush777 03/19/15 01:57:55 PM
#1163   Good news today! Way undervalued here, IMO. bman 03/19/15 12:25:30 PM
#1162   other deal still open benjmurts 03/19/15 12:15:09 PM
#1161   so im guessing other deal is dead? DRspin 03/19/15 11:49:59 AM
#1160   Finally Good News!! benjmurts 03/19/15 10:37:11 AM
#1159 benjmurts 03/19/15 10:21:06 AM
#1157   MGT still has someone buying do we DRspin 03/18/15 10:41:17 AM
#1156   Make you money back in PPCH shit is Daytrader2013 03/18/15 09:30:48 AM
#1155   Looks like bad news. oxnous 03/17/15 07:16:50 PM
#1154   no powder or id avg down more....i bought Greenrush777 03/17/15 03:43:09 PM
#1153   volume is encouraging as someone is obv buying Greenrush777 03/17/15 03:38:34 PM
#1152   .46 :) patience imo MARKSMAN 03/17/15 03:31:55 PM
#1151   I averaged down but most likely still going TheInvincibleBull 03/17/15 03:22:56 PM
#1150   Ppch brotha is doing great Daytrader2013 03/17/15 03:09:51 PM
#1149   makes sense,,,,but there is a buyer out there,....ok DRspin 03/17/15 02:21:30 PM
#1148   Uh yeah...lost our ass...time to make money elsewhere PROPHETABLE 03/17/15 02:19:58 PM
#1147   got real quiet real fast here DRspin 03/17/15 01:53:56 PM
#1146   Done watching for the day. This sucks. Not TheInvincibleBull 03/17/15 12:39:27 PM
#1145   someone still willing to buy who ever wants DRspin 03/17/15 12:33:41 PM
#1144   wowzers fell asleep and woke up to this?!?! Greenrush777 03/17/15 12:30:11 PM