About the LuxTag Equity Crowdfunding Campaign
LuxTag is fundraising through an equity crowdfunding (ECF) campaign on pitchIN. The equity crowdfunding campaign is conducted in Malaysian Ringgit (MYR), the local currency and legal tender in Malaysia.
pitchIN is a Registered Market Operator with the Securities Commission of Malaysia (Suruhanjaya Sekuriti Malaysia) and is approved to offer Equity Crowdfunding services to companies.
XEM and BTC as Non-Monetary Considerations-in-Kind
In conjunction with the LuxTag Equity Crowdfunding Campaign, pitchIN sought and obtained approval from the Securities Commission for the LuxTag ECF campaign to also accept crypto tokens XEM (NEM) and BTC (Bitcoin).
Bitcoin and XEM will be pledged as a non-monetary consideration-in-kind, and pitchIN will take the market value of the tokens to assign the equivalent number of LuxTag shares to the investors.
Additionally, this non-monetary consideration-in-kind will be restricted to non-retail investors. To meet this requirement, the minimum amount of contribution by any investor will be MYR 6,400 (approx US$1,540 or 0.175 BTC), and investors will declare that they are not retail investors.
ECF Mechanism, Terms and Conditions
Investors who wish to contribute crypto tokens into the equity crowdfunding campaign can head to invest.luxtag.io for more information. They will then be able to access a web application at luxtag.equity.pitchin.my to enter their details, upload a government-issued ID document, and choose the number of shares they wish to contribute. They will be able to see the equivalent value in MYR. The amount of BTC or XEM that needs to be contributed will be shown in the next step.
The web application will then guide contributors to send the Bitcoin or XEM to a secure trust account wallet controlled by pitchIN.
An acknowledgment that the contributed crypto tokens have arrived in the secure trust account wallet and have been sighted by pitchIN will be issued to the pledger via email within one business day after the transfer is received.
Throughout the equity crowdfunding campaign’s duration, an investor can contact pitchIN ([email protected]) to request a refund at any time.
If the ECF campaign does not reach the minimum funding target of MYR 800,000, all investors will be refunded.
If the ECF campaign is successful, a six (6) days cooling-off period will commence during which an investor can seek a refund. No refunds can be requested after this period.
All investors (this can be a person or a business entity) will then receive a Digital Share Certificate that confirms that their shares have been issued and are being held by Pitch Nominees. As the number of investors in ECF campaigns are typically very high, pitchIN utilizes a nominee structure to pool all investors in Pitch Nominees. A Nominee Agreement covers this arrangement, and all beneficial interest in the shares remains wholly with the investors.
- This contribution-in-kind will be overseen by pitchIN and follows the principles of the Equity Crowdfunding Guidelines issued by the Securities Commission (Malaysia). pitchIN reserves the right to set all rules for this campaign and make decisions on any matters arising.
- LuxTag will put in place high levels of network security measures for the process and will be solely responsible for network security.
- pitchIN advises investors that equity investments are long term and illiquid in nature and carry business risks.
Invest XEM / Bitcoin
We will need you to provide your details and ID document in the next step.