Timeless Luxury Group has announced that it has launched its Digital Security Offering (DSO) as part of its planned expansion program. It is investing a slice of luxury in a new security token. Timeless Luxury Group AG is a Swiss business which operates in Europe and focuses on offering premium luxury holiday villas, resorts and lifestyle products.
Michael Gössl, CEO of Timeless said: “Raising money using capital markets offers no flexibility, and the rules are very rigid. For bonds, there is the loaned amount, the coupon and the maturity date. Sure, there are slightly different ways to structure bonds, but it’s all a variation on a theme. An asset-backed digital security token offers something totally different. The terms are flexible and written into a smart contract, and it’s instantly liquid on crypto exchanges or peer-to-peer. It offers a new way of investing, and we’re at the tip of the iceberg in terms of where it will go. Timeless is pioneering this method of fundraising that will become the new normal.”
Michael Gössl, CEO of Timeless goes on to add: “We have taken regulation very seriously with the DSO. It adheres to SEC guidelines, and we have worked closely with our partners to ensure we take appropriate measures to safeguard investors. We are also the first DSO in the US to use an SEC-registered transfer agent to ensure the process of investing is as secure and transparent as possible and the investors’ funds are safe. As an established business, we can’t cut corners or take risks with this process. That’s why we have committed to this fully compliant, regulated offering. With the Timeless DSO we bring together years of experience in high-end hospitality, an ambitious business plan for growth, and generous benefits to this one-of-a-kind security token.”
Timeless has taken a trusted approach to regulation by working with established US partners, ensuring it is compliant with SEC guidelines thus giving extra reassurance to international investors too. The Timeless digital security token will be ERC20-based and give holders the right to earn a percentage of future company profits. Therefore, TriPoint Global Equities, LLC, working with its online division BANQ (www.banq.co), will act as the lead managing placement agent for investors in the Timeless DSO and New York City-based Vstock Transfer, LLC will act as the SEC-registered transfer agent for the issuance and custody of digital securities.
TMLS Tokens are issued in accordance with the Ethereum ERC-20 standard and in the United States, pursuant to the exemption from registration under the Securities Act provided by Regulation D, Rule 506(c) and to international investors using Regulation S. The Reg D 506(c) DSO will be offered and sold to accredited investors only. This DSO will be the first offering in the United States to use an SEC Registered Transfer Agent for the issuance and custody of digital securities by engaging New York City based Vstock Transfer, LLC powered by www.custodyware.com.