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MGT Capital Investments INC (MGT)

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Last Post: 7/23/2016 8:16:11 PM - Followers: 283 - Board type: Free - Posts Today: 38



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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#15146   Dollar volume over 8 weeks trumps all for the third leg 07/23/16 08:16:11 PM
#15145   There is a ton of fail to delivers the third leg 07/23/16 08:14:24 PM
#15144 This JanneD 07/23/16 07:59:08 PM
#15143   Shorting stocks is very risky. I learned that JanneD 07/23/16 07:37:21 PM
#15140   Dollar volume trumps all. Real damn simple For some Mgt the third leg 07/23/16 06:41:34 PM
#15139   Of course shorts are nervous and have failed the third leg 07/23/16 06:40:48 PM
#15138   Lol!! So hundreds of millions of dollars pouring the third leg 07/23/16 06:39:36 PM
#15137   Oh then it's definitely a made up rumor penknee 07/23/16 05:38:26 PM
#15136   Stocktwits is getting lots of attention, skyesfan1 07/23/16 05:36:02 PM
#15135   $100 million for a scam company, that won't penknee 07/23/16 05:33:52 PM
#15134   STOCKTWITS saying $BTCS $MGT BUYOUT IS A GO!! skyesfan1 07/23/16 05:29:04 PM
#15133   I don't have any insider information, I am skyesfan1 07/23/16 04:23:41 PM
#15132   That would be trading on inside information. But penknee 07/23/16 04:20:50 PM
#15131   $$$ Once the deal goes through both $MGT skyesfan1 07/23/16 04:17:48 PM
#15130   Nobody is going to pay $100 million for penknee 07/23/16 04:06:19 PM
#15129   America is the land of the free and running bull 07/23/16 03:51:28 PM
#15128   I don't have to trust what I read. Info_Sec 07/23/16 03:34:01 PM
#15127   I learned one thing don't believe everything you running bull 07/23/16 03:16:34 PM
#15126   Bath Salts wasn't a joke. McAfee was using Info_Sec 07/23/16 02:37:58 PM
#15125   $MGT BUYING BTCS READ*** maxtrader1m 07/23/16 02:33:22 PM
#15124   I read that Cybercrime is the #1 crime running bull 07/23/16 01:56:44 PM
#15123   $Mgt buyout $Btcs is under value Company. Small Bibiwong 07/23/16 01:32:40 PM
#15122   I am hearing big things about $MGT and $BTCS, skyesfan1 07/23/16 01:07:34 PM
#15121   That's a strange thing for someone his age penknee 07/23/16 01:05:57 PM
#15120   With the world going crazy. IMO the next running bull 07/23/16 12:32:32 PM
#15119   MGT below $3, then up to $5-6 by x1power 07/23/16 12:22:26 PM
#15118   Not only that but how would MGT buy SOG 07/23/16 12:04:58 PM
#15117   MGT $3.20 BoilerRoom 07/23/16 11:41:56 AM
#15116   BS born on date 7/17/16 quit using mgt pt 07/23/16 11:41:48 AM
#15115   What does btcs have, and where? lineItemVeto 07/23/16 11:36:29 AM
#15114 Monster34 07/23/16 11:14:46 AM
#15113   Life changing or death threats? McAfee posted a Info_Sec 07/23/16 09:53:19 AM
#15112   Exactly!! Some just don't understand Mgt Life changing because the third leg 07/23/16 09:10:11 AM
#15111   If $MGT news hits between now and monday fitzkarz 07/23/16 08:58:21 AM
#15110   The News is called Insider Trading. It's just Info_Sec 07/23/16 01:19:10 AM
#15109   What news are we expecting? skwong 07/23/16 12:34:54 AM
#15108   No stock in a high tech company Bluetooth fitzkarz 07/22/16 10:57:01 PM
#15107   More shares to dump over there? Haha!!! CantonG 07/22/16 10:51:02 PM
#15106   $MGT IS UP 5 CENTS AFTER HOURS, skyesfan1 07/22/16 10:47:00 PM
#15105   Bagholders? The company is just beginning. jderaney 07/22/16 10:40:07 PM
#15104   First I want to again reiterate I am SOG 07/22/16 08:44:23 PM
#15102   This stock is a flyer, I have a small Nextinline 07/22/16 07:42:43 PM
#15099   Very well put but there is always an ziggy7796 07/22/16 06:34:25 PM
#15097   Sorry. But return to pennies here. jderaney 07/22/16 04:21:35 PM
#15096   Agreed!! Just starting Mcafee on a mission the third leg 07/22/16 04:17:27 PM
#15095   It's because it's nothing new. Old news from CantonG 07/22/16 03:56:46 PM
#15094   Don't worry, there will be a ton of MojoTrader 07/22/16 03:50:14 PM
#15093   If $MGT news hits between now and monday fitzkarz 07/22/16 03:47:00 PM
#15092   Your point ? I didn't write it. Go $MGT fitzkarz 07/22/16 03:43:31 PM
#15091   So far, I'm so happy as added a MojoTrader 07/22/16 03:27:47 PM