Blue Star Gets Coinsilium’s SatoshiPay Holdingsbr>
Technology investor Blue Star Capital has acquired the SatoshiPay holdings of London-based blockchain accelerator Coinsilium, which is ending its direct investment in the bitcoin micropayments startup.
Coinsilium is selling its entire holdings for Eur340 per share for a total consideration in cash of €725,220 ($944k US) and 85 million warrants for ordinary shares of Blue Star. That stake is exercisable at 0.6 pence for half and 0.8 pence for the second half. The warrants are effective for a three-year period from the completion of the Blue Star acquisition.
Coinsilium was an early investor in SatoshiPay, but decided to focus on blockchain, according to the release announcing the sale.
Eddy Travia, Coinsilium CEO, said the transaction, first announced in early July, has now been completed. “We are delighted to announce the successful completion of this transaction; the proceeds from which, together with our prevailing resources provide the Company with more than sufficient funding for our current pipeline of prospective investment and projects. This is a most exciting time to be at the forefront of the blockchain technology industry and the emerging “Token Economy.” We look forward to announcing some exciting developments to the market in the near term.”
Blue Star was already an investor in SatoshiPay. It previously invested an amount of GBP700,000 ($911,960 US) in the bitcoin micropayments startup.