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MGT Capital Investments INC (MGT)

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TERA EXCHANGE I.P.O

VIA REVERSE


MERGER

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
 


teraex




 

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,www.DraftDay.com.  The Company also offers games of skill through www.MGTplay.com and social casino games with SlotChamp™, and also operates an online portal for fantasy sports news and commentary, www.FantasySportsLive.com.  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.

https://www.draftday.com/

http://mgtplay.com/

http://fantasysportslive.com/

http://www.mgtci.com/

http://www.teraexchange.com/




YAHOO:
http://finance.yahoo.com/q?s=MGT

MARKETWATCH:
http://www.marketwatch.com/investing/stock/MGT

STOCKHOUSE:
http://www.stockhouse.com/companies/quote/mgt/mgt-capital-investments

SEC:
http://www.sec.gov/cgi-bin/browse-edgar?CIK=MGT&Find=Search&owner=exclude&action=getcompany







 














  

 





 
    
    


 



 




 

 
 
 



 






 
      
 
 

 
 

 
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PostSubject
#10636  Sticky Note MUST READ DD FOR EVERYONE PRINC3ALI 06/15/16 12:07:29 PM
#2805  Sticky Note February video of McAfee on IPhone backdoor. This penny chaser 05/13/16 08:21:12 PM
#12627   MGT this company is no joke wonder how BoilerRoom 07/01/16 11:37:41 PM
#12626   ====== http://www.futuretensecentral.com/products ====== legalizeMJ 07/01/16 11:29:55 PM
#12625   LINK:RESTRICTED shares(J.McAfee DIDN'T sell shares) legalizeMJ 07/01/16 11:23:55 PM
#12624   LINK:MGT fights back legalizeMJ 07/01/16 11:03:22 PM
#12623   Let me guess, you've read something from that PreservedSwine 07/01/16 10:31:28 PM
#12622   Ever get filled? Haha!!! CantonG 07/01/16 08:19:43 PM
#12621   MGT, huge week......Big support, accmulation. stockdawg44 07/01/16 08:00:35 PM
#12620   LMAO! spoken like someone who is upset they MadHatter326 07/01/16 04:47:11 PM
#12619   * * $MGT Video Chart 07-01-16 * * ClayTrader 07/01/16 04:22:28 PM
#12618   yes, when that happens.. i'm pretty sure minten 07/01/16 04:19:59 PM
#12617   Dude, Not seeing the big picture? D-Vasive MadHatter326 07/01/16 04:17:38 PM
#12616   whatsapp does something useful and appears to an minten 07/01/16 04:12:57 PM
#12615   MGT, Strong Close today, just as I predicted! MadHatter326 07/01/16 04:09:05 PM
#12613   You saying it will be tanked on Tuesday opening skwong 07/01/16 04:05:47 PM
#12612   http://finance.yahoo.com/news/mgt-announces-tiffany-madison-director-200000120.h Breeze1 07/01/16 04:03:00 PM
#12611   LOLOL 4 PM PR HandyMan2000 07/01/16 04:02:28 PM
#12610   No prediction. I'm in for the long haul. debrojo 07/01/16 04:00:35 PM
#12609   What is your prediction for next Tuesday opening skwong 07/01/16 03:56:19 PM
#12608   LOL. I know. misiu143 07/01/16 03:54:35 PM
#12607   I don't think it will happen , I misiu143 07/01/16 03:53:36 PM
#12606   while i argue you do not get appropriate minten 07/01/16 03:53:31 PM
#12605   This just in: carolinedevine 07/01/16 03:52:48 PM
#12604   Not today for sure. debrojo 07/01/16 03:52:07 PM
#12603   Long term you won't but people might start skwong 07/01/16 03:51:06 PM
#12602   Actually it is not dilution if you get mr4444 07/01/16 03:51:02 PM
#12601   OK, last few minutes , I am waiting misiu143 07/01/16 03:49:11 PM
#12600   Go ahead break that 4's MGT!!! Kcricket 07/01/16 03:44:00 PM
#12599   you post MGT=NO dilution, and then in that minten 07/01/16 03:21:09 PM
#12598   EDGX all over that for you :P smokie622 07/01/16 03:14:29 PM
#12597   Guys stack the ASK we need to dip BoilerRoom 07/01/16 03:12:59 PM
#12596   I like your last couple of posts very informative. running bull 07/01/16 02:52:15 PM
#12595   That was not my post running bull 07/01/16 02:44:45 PM
#12594   MGT= Strong BUY because John McAfee is going legalizeMJ 07/01/16 02:43:44 PM
#12593   I would just love to a late afternoon running bull 07/01/16 02:43:30 PM
#12592   MGT vs AAPL, MSFT O/S,DEBTS(comparisons) legalizeMJ 07/01/16 02:40:48 PM
#12591   ====== http://www.futuretensecentral.com/products ====== legalizeMJ 07/01/16 02:38:24 PM
#12590   pt HA yes they do!! ;) smokie622 07/01/16 02:26:23 PM
#12589   So which MAJOR INSTITUTIONS are involved here? lineItemVeto 07/01/16 02:18:58 PM
#12587   Link: MGT= NO dilution. legalizeMJ 07/01/16 02:02:26 PM
#12586   Actually, completely false. McAfee was never wanted for md3423 07/01/16 02:00:25 PM
#12585   LINK:John McAfee's in MGT for the LONG HAUL. legalizeMJ 07/01/16 01:55:27 PM
#12584   smokie622 all those ftd will have to be pt 07/01/16 01:55:01 PM
#12583   LINK:MGT fights back legalizeMJ 07/01/16 01:53:17 PM
#12582   Which and what major institution?Lastly hundreds of millions lineItemVeto 07/01/16 01:49:08 PM
#12581   What is the next support here? skwong 07/01/16 01:48:49 PM
#12579   Sounds like the only one losing hard cash CantonG 07/01/16 01:44:19 PM
#12578   Lastly hundreds of millions of dollars pouring in the third leg 07/01/16 01:43:40 PM
#12575   Reloading the cooler!! Nice to see how strong the third leg 07/01/16 01:41:25 PM
#12574   Garbage SEC needs to shut this scam down. John Kent 07/01/16 01:38:55 PM
#12573   Not with the SS they have in place....more MadHatter326 07/01/16 01:35:03 PM
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