New financial products launch globally as crypto turns ‘hot’ again
Crossgate Capital launches an equity share offer
Established in 2018, Crossgate Capital is a New Zealand registered company operated by a commercially experienced management and investment team with a singular purpose of investing in digital assets.
Overall Crossgate’s aim is to ease the path for investors with a desire to include crypto assets in their portfolios but who also want to avoid the risks and hassles associated with purchasing and securing the assets themselves.
Crossgate’s investment philosophy is to buy and hold actual crypto, based on fundamentals rather than sentiment - with trusted custodian Bitgo managing the cold storage. Although the specific cryptos being purchased are not identified in the company’s Product Disclosure Statement, Crossgate says only assets with a market cap of $500m or more will be included in the company’s holdings, and pricing data will be provided by BNC.
The offer opened in February and closes in 2024 with the value proposition for investors being directly related to any increase in value in the company’s holdings. The offer is open to all investors (not just accredited) and is for 97 million shares (with a minimum of 100 shares). The first shares allotted were on 1 April 2019 at NZ $1.00. The most recent share price (8 April 2019), based on the portfolio valuation is NZ $1.16. The share price is calculated after all fees and taxes.
What’s unique about the offer is its structure as a share issue in a New Zealand registered company. Jurisdictionally New Zealand is recognised as among the most ethical and least corrupt in the world. Crossgate equity holders will thus have all the protections afforded to company shareholders under New Zealand’s Company Law Act, and the offer is also registered (offer number OFR12554) pursuant to New Zealand's Financial Markets Conduct Act.