XBOND
Exchangeable Bond Offering
OverviewXBOND is a “perpetual” fixed-yield bond (0.05% Daily, 18.25% APY) issued by TAT Investments with special redemption privileges, callability and putability terms.
This asset is being offered for the following purposes:1. To increase TAT Investments' ability to provide new public offerings
2. To provide Pre-IPO Placement access to upcoming public offerings issued by TAT Investments
These offerings may include stocks, bonds, futures and other investment opportunities.3. To improve TAT investments' financial agility
Dividends (Daily Coupon)This bond pays a fixed-rate daily coupon, or interest rate, of 0.05% (18.25% APY). Each coupon will be scheduled to payout daily at 12:00 pm EST, unless the host exchange has technical issues, in which case the payments will occur at the earliest time possible.
Face ValueEach bond has a face value of 0.001 bitcoins.
Initial Public Offering (Date to be announced)The initial public offering will be sold in 4 tranches of 500,000 units each, at a price of 0.001 bitcoins per unit.
(2,000,000 units, totaling 2,000btc).Orders can be placed at
https://www.havelockinvestments.com/order.php?symbol=XBONDIf a tranche remains unsold after 1 week, the remaining unsold tranches may be removed and placed for sale on another exchange. Additional bonds may be issued in the future if proper backing is in place.
BackingTAT Investments will always reserve a portion of its bitcoin-denominated holdings with a market value that is greater than 100% of the face value of our issued debt in bonds
Any equities assigned as backing to these bonds will be otherwise unencumbered from any liabilities to other securities provided by TAT Investments.
Backing equity will be held in publicly verifiable accounts, and a quarterly transparency report will be provided to detail all backing assets. TAT Investments may use bitcoins or any publicly traded bitcoin security assets as backing.
Bond Redemption (Putability)These bonds may be redeemed in two ways:
1. Pre-IPO Redemption: These bonds may exchanged at the full face value, 0.001 bitcoins each, toward the purchase of newly announced public offerings provided by TAT Investments. XBOND holders will have first access to units of any eligible IPO we provide, before open market trading begins, on a first come, first served basis.
Pre-IPO Redemption Rules: - To instigate a redemption exchange for Pre-IPO purchases, simply transfer your bonds to TAT Investments' account on the host exchange, and send a corresponding e-mail to tat.investments@gmail.com confirming your desired Pre-IPO purchase details. - Pre-IPO exchanges will be fulfilled in the order that the full transfer is received. - Pre-IPO purchases must be paid in full by redeeming XBOND units. - If an IPO is sold out through bond redemptions, any unfulfilled redemption requests will be sent back to the original bondholder. - Once a redemption request is received it is binding. - Pre-IPO shares will provided within 3 days after the IPO.2. Direct Redemption: Bonds may be redeemed at any time at 95% of face value, 0.00095 for each bond. Please allow 1-3 days for redemptions worth less than 10 bitcoins; 1-15 days for redemptions worth 10-50 bitcoins; 1-30 days for redemptions worth 50-100 bitcoins. Turnaround time for larger direct redemptions will be quoted on a case-by-case basis. Any bondholder may sell their XBOND units on the host exchange. Bondholders may instigate a maximum of one redemption request per week.
Bond Recall (Callability)Bonds cannot be recalled during Pre-IPO sales periods. These bonds may be recalled by the issuer at any other time at 105% of face value, 0.00105 bitcoins each.
The issuer has the right to recall any outstanding bonds at will. If TAT Investments recalls only a portion all outstanding bonds, we will do so as proportionally among all bondholders, rounded down to the nearest whole unit.
Voting RightsThere are no voting rights associated with these bonds.
Reserved RightsIssuer reserves the following rights:
1. To issue additional bonds publicly or privately
(the quantity of total outstanding bonds will always be made public)2. To buy or sell bonds publicly or privately
(the quantity of total outstanding bonds will always be made public)3. To make changes to this contract that represent the best of interests of bondholders
4. To correct and clarify any gross errors or details herein that prove to be open to misinterpretation
5. To temporarily or permanently assign additional rights or privileges to bondholders.
6. To permanently increase the daily interest rate of all outstanding bonds
7. To limit frequent, abusive redemption requests
8. To specify minimum or maximum redemption terms and eligibility for Pre-IPO redemptions
DissolutionIn the event that the issuer chooses to, or is forced to, close this asset for any reason, a new operator may be vetted and chosen by TAT Investments to take over control of the asset, or all bonds will be bought back by the issuer at 105% of face value. Daily coupons remain due every day until such time as TAT Investments is able to make such a final payment.
Issuer InfoTAT Investments is a leading bitcoin investment company with a mission to provide highly desirable offerings to bitcoin investors in new ways, and to set higher standards for bitcoin investments.
TAT Investments has provided identity information to the host exchange privately as a gesture of good faith, as well as emergency contact information.
A “dead man’s switch” will be implemented in order to pass control of this asset to a safe secondary operator in the case of the issuer’s untimely demise or hospitalization.
Disclaimer & Risks Bitcoin’s legal definition as a currency, commodity, investment, or financial instrument may be subject to unique regulations in some jurisdictions. The issuance of bitcoin-denominated securities may be considered high-risk in the current environment. Please perform due diligence in all of your investment decisions, and consider all risks before purchase. While all investments involve risk, bitcoin securities may be considered among the most risky. Some have products and services that are still in development or have yet to be tested in the market. Many trade on unregistered exchanges.Another risk that pertains to bitcoin securities involves the low volumes of trades. Because most bitcoin securities trade in low volumes, any size of trade can have a large percentage impact on the market price of the security.Losses caused by default/theft within the host exchange may affect the putability and/or the degree of backing representing this security.
