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MGT Capital Investments INC (MGT)

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Last Post: 5/27/2016 10:30:20 PM - Followers: 261 - Board type: Free - Posts Today: 0




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) 05/26/2016 09:01:45 AM
MGT News: MGT Capital Agrees to Acquire Secure File Sharing Technology 05/26/2016 09:00:00 AM
MGT News: Quarterly Report (10-q) 05/23/2016 08:34:16 AM
MGT News: Prospectus Filed Pursuant to Rule 424(b)(3) (424b3) 05/17/2016 05:25:20 PM
MGT News: Notification That Quarterly Report Will Be Submitted Late (nt 10-q) 05/16/2016 06:07:19 PM
#2805  Sticky Note February video of McAfee on IPhone backdoor. This penny chaser 05/13/16 08:21:12 PM
#1226  Sticky Note John McAfee was just named CEO of a wingtrade 05/09/16 05:30:43 PM
#9000   Have a great weekend. I'm going. Next week Doc Holliday 05/27/16 10:30:20 PM
#8999   I'm not worried about shorts. This will go Doc Holliday 05/27/16 10:29:28 PM
#8998   Today a lot of New York money was Doc Holliday 05/27/16 10:28:10 PM
#8997   If not posted already stock_clerk 05/27/16 10:26:57 PM
#8996   Eventually they have to Take it Up to duelittle2 05/27/16 10:18:34 PM
#8995   Lots of flippers today longymickshort 05/27/16 10:16:42 PM
#8994   This is on a big board. MMs do Doc Holliday 05/27/16 09:58:26 PM
#8993   Its a death cross when the 200 goeas The_Fig_Tree 05/27/16 09:49:39 PM
#8992   More news cures all The_Fig_Tree 05/27/16 09:48:33 PM
#8991   Accumulation pointing down ~Angel~ 05/27/16 09:37:16 PM
#8990   "your middle hand "... lol....??!!!...Wat's Dat...??!!! duelittle2 05/27/16 09:37:06 PM
#8989   You Are Correct and it applies to the duelittle2 05/27/16 09:34:27 PM
#8988   (Headbang) MrPoppaGeorgeo 05/27/16 09:25:57 PM
#8987   Point with your middle hand on this chart The Rainmaker 05/27/16 09:19:19 PM
#8986   Blue line 50 day red line 200 day, The Rainmaker 05/27/16 09:17:28 PM
#8985   Normally you want to see the 50 cross Nextinline 05/27/16 08:56:30 PM
#8984   Golden cross coming in a few short trading jdcpa1 05/27/16 08:53:06 PM
#8983   Hi Clay, I looked at your MGT chart jdcpa1 05/27/16 08:51:19 PM
#8982   Looking for possible $1.79 bounce Kylef 05/27/16 07:55:43 PM
#8981   Would love to see a move over $6 The_Fig_Tree 05/27/16 07:52:33 PM
#8980   Super week coming Volcano 05/27/16 07:39:34 PM
#8979   Huge media exposure Volcano 05/27/16 07:17:23 PM
#8978   d2's Compiled Links duelittle2 05/27/16 06:39:19 PM
#8977 duelittle2 05/27/16 06:37:40 PM
#8976   He is also in talks with his employer, geocam 05/27/16 06:37:32 PM
#8975   Wow Just huge indeed Volcano 05/27/16 06:32:07 PM
#8974   John McAfee: We Are 20 Years Behind China duelittle2 05/27/16 06:30:16 PM
#8973   Founder of Demonsaw explains why we need it duelittle2 05/27/16 06:20:26 PM
#8972   Back in today,think this has a good chance sick nam vet 05/27/16 06:05:29 PM
#8971   Must read Link ..imo..For anyone in MGT: duelittle2 05/27/16 05:59:10 PM
#8970   Shorts tried hard to bring it down under $2 Volcano 05/27/16 05:43:34 PM
#8969   If he was 20 years younger, who knows. DrShocker 05/27/16 05:41:06 PM
#8968   World wide big hands waiting for the deal closing Volcano 05/27/16 05:40:37 PM
#8967   Reversal / uptrend should now be in effect. Lone Wolf 05/27/16 05:39:21 PM
#8966   I complete understand what you are talking about heather59 05/27/16 05:07:06 PM
#8965   * * $MGT Video Chart 05-27-16 * * ClayTrader 05/27/16 04:28:44 PM
#8964   You too 'Volcano' Have a great safe holiday weekend. fitzkarz 05/27/16 04:17:41 PM
#8963   Good luck Volcano 05/27/16 04:12:50 PM
#8962   Please stop saying that, we heard you already. TSmith4659 05/27/16 04:11:31 PM
#8961   Not bad closing Huge week coming Have a nice long weekend Volcano 05/27/16 04:03:11 PM
#8960   MMs have a lot of friends they have ESP24 05/27/16 04:00:15 PM
#8959   Why selling at rock bottom pps? Fools sell low Volcano 05/27/16 03:52:09 PM
#8958   I too loaded up. Too much potential! Mojocash 05/27/16 03:48:03 PM
#8957   Huge news coming next week I see $5 next Volcano 05/27/16 03:46:36 PM
#8956   You will do well. Doc Holliday 05/27/16 03:46:03 PM
#8955   Low volume expected today. New York taking a Doc Holliday 05/27/16 03:45:20 PM
#8954   I can't deny this stock any longer. CantonG 05/27/16 03:45:13 PM
#8953   Buys came in all day at 39 and Doc Holliday 05/27/16 03:44:00 PM
#8952   Pretty sick, today i was thinking wow if rabbit67 05/27/16 03:38:25 PM
#8951   ESP.. yup , in the old days we rabbit67 05/27/16 03:34:11 PM