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tokentus investment AG: Investment Celsius Network initiates voluntary Chapter 11 proceedings

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DGAP-News: tokentus investment AG / Key word(s): Miscellaneous
tokentus investment AG: Investment Celsius Network initiates voluntary Chapter 11 proceedings
14.07.2022 / 14:00
The issuer is solely responsible for the content of this announcement.

tokentus investment AG: Investment Celsius Network initiates voluntary Chapter 11 proceedings

Frankfurt am Main, 14 July 2022 - Celsius Network, a portfolio company of tokentus investment AG ("tokentus", ISIN: DE000A3CN9R8; WKN: A3CN9R; symbol: 14D), announced last night that it has initiated voluntary Chapter 11 proceedings.

According to the company, this procedure should give it the opportunity to stabilise its business and to carry out a comprehensive restructuring. To this end, Celsius Network filed a voluntary petition for reorganisation under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York. Some of Celsius Network's subsidiaries have done the same.

Celsius Network officially states its position on this matter on the company's website at https://blog.celsius.network/

Among other things, it says there that Chapter 11 is a procedure in the USA by which companies restructure their financial obligations while operations continue. Many well-known companies have successfully reorganised under Chapter 11 and emerged stronger, including American Airlines, Delta, General Motors, Hertz and Marvel. This is not a classic insolvency procedure as under German law.

This official statement from Celsius Network comes after the company decided on 12 June 2022 to freeze customer accounts and pause withdrawals, swaps and transfers on the platform in order to stabilise the business and thus protect its customers.

 

About tokentus investment AG
tokentus investment AG (ISIN: DE000A3CN9R8, WKN: A3CN9R; Ticker: 14D) is an investment company focusing on the blockchain market. The shares of tokentus investment AG are listed on the m:access trading segment (unofficial market) of the Munich stock exchange and traded on XETRA and other German stock exchanges.

With the help of a constantly growing network of co-investors tokentus acquires international financial investments and shares of companies with a business model that is directly connected with the blockchain technology. Thus shareholders of the tokentus investment AG are able to indirectly invest in a diversified, international portfolio in the pioneering blockchain market. tokentus investment AG considers itself an investment pool and central access point for investors in the blockchain market. As a German public holding company tokentus has committed itself to transparency and regular communication with its investors. Currently, the company holds financial investments and investments (equity and tokens) in eleven blockchain companies and one blockchain-focused venture capital fund.

For further information see: www.tokentus.com

Disclaimer
This publication is neither an offer to sell nor a solicitation to buy securities. The no-par value registered shares of tokentus investment AG (the "Shares") may not be offered or sold outside the Federal Republic of Germany, in particular not in the United States or to or for the account or benefit of "U.S. persons" (as defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act")). The securities have already been sold.

Contact for queries
Oliver Michel
CEO der tokentus investment AG
Tel: +49 175 7222 351
contact@tokentus.com
www.tokentus.com

 

 


14.07.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

tokentus investment AG

Taunusanlage 8 c/c WeWork

60329 Frankfurt

Germany

E-mail:

contact@tokentus.com

Internet:

www.tokentus.com

ISIN:

DE000A3CN9R8

WKN:

A3CN9R

Listed:

Regulated Unofficial Market in Frankfurt, Munich

EQS News ID:

1398265


 

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