FAQ

General questions

  1. What is SpaceX?

    SpaceX designs, manufactures and launches advanced rockets and spacecraft. The company was founded in 2002 to revolutionize space technology, with the ultimate goal of enabling people to live on other planets. https://www.spacex.com/about

  2. What is Private Equity?

    Private equity is a type of share representing ownership in an interest or an entity that is not publicly listed or traded. Traditionally, private equity has been owned by high net worth individuals, funds and firms as the minimum investment has historically been over $20,000.

  3. What is a private equity/shares secondary market?

    The secondary market is where investors buy and sell securities they already own. It is what most people typically think of as the "stock market," though stocks are also sold on the primary market when they are first issued.

  4. How does the secondary market for private equity work?

    Historically, there has not been much of a secondary market for private equity. Most investors purchasing or earning private equity were intended to hold until the company either goes public or is sold. If an investor wanted to sell their private shares, then depending on their agreement with the company, they may have needed company approval to change their position on the cap table to someone who purchased their position. However, in the last 5 years a secondary shares market has been emerging and experiencing rapid growth to provide liquidity to these investors. According to Forbes: $49B was raised in 2016 by secondary funds, vehicles that specialize in investing in this market. In 2017, the volume of secondaries transactions reached around $58B

  5. How else can one have an economic interest in SpaceX?

    There are currently only a few ways to invest in SpaceX:

    1. Wait until there is another round of funding. During the next round of financing, SpaceX will select investors, however, as a high profile company, it is likely to only select high profile investors who are willing to make large investments of over $1M.
    2. Buy SpaceX shares on the secondary market. Currently, there are a few secondary markets for private shares. However, the minimum investment tends to be between $20,000 and $250,000 and can involve a lot of time and paperwork.
    3. Wait until SpaceX goes public and is available on major stock exchanges.
  6. How does the tokenization of SpaceX shares work?

    Partnering with an Investment Bank, Ambisafe is launching a fund, that buys shares of SpaceX on the secondary market. The token represents a share in the fund that owns an economic interest in the shares of SpaceX. The fund is set up in such a way that token holders are expected to get financial returns, equivalent to what owners of the shares get*, minus certain applicable fees and expenses: every time the company valuation increases, token holders would be able to trade their tokens at the new price. Once SpaceX goes public, the fund will sell underlying shares and distribute proceeds among token holder cryptocurrency wallets.

    This is as close as we can get to having SpaceX on blockchain today, but Ambisafe is committed to moving the actual shares of other companies to the blockchain in near future.

    *small deviations are possible due to reseller fees and currency conversion rates. Token holders are not shareholders of SpaceX and do not get any voting or information rights from SpaceX.

Token sale

  1. What is a token? What is a Token Sale?

    A token is a particular cryptocurrency unit, issued on a blockchain. Usually tokens represent a real-world or digital asset or has some specific value in some applications and services. A token sale is an offering of tokens for selling to the public, subject to applicable laws, in exchange for other cryptocurrencies (BTC, ETH, etc) or fiat (USD, EUR).

  2. What is the difference between utility tokens and security tokens?

    Unlike utility tokens which only grant you access to a particular service, security tokens can be backed by real assets and grant additional features, such as voting rights or participation rights in profits. SpaceX tokens are securities under most countries laws, which may cause some limitations in token distribution. For more details, please, explore Token Sale section of this FAQ.

  3. Who is organizing the Token Sale?

    Ambisafe. Launched 30 token sales, with 250,000 contributors and $300M raised in total.

    Orderbook. Decentralized ICO platform with 40,000 users with integrated KYC verification. Token sales will happen on its infrastructure.

    US Capital Global. Launches a fund with Ambisafe to purchase SpaceX shares or derivatives for tokenization.

  4. Who can buy the token?

    We are currently not allowing purchasers or secondary token trades in the following countries: US, Japan, Singapore, Switzerland. If you are a citizen/resident of another country, you need to pass KYC and AML check.

    Learn more about securities law in your country - https://help.orderbook.io/accredited-investor-status-verification-requirements

  5. What do I own when buying a USPX Token?

    Token represents a share in a fund that owns economic interest in the shares of SpaceX. One token represents fractional share ownership with ratio 1:10 (10 tokens = economic interest in 1 share)

  6. What is the minimum /maximum purchase amount?

    Minimum - 4 tokens ($100), maximum - not limited.

  7. How much will be sold in USD equivalent?

    Up to $50,000,000

  8. What currencies/cryptocurrencies can I use to buy USPX Token?

    Bitcoin (BTC), Ethreum (ETH), USD (wire transfer)

  9. How is the price of my token determined?

    The price of the token is based on the price of the most recent publicly disclosed valuation of SpaceX, plus management fees. The token price is not based on market demand; meaning that supply and demand do not determine the price.

    The price of USPX Security Tokens changes when SpaceX has a publicly disclosed and verifiable change in valuation. This usually occurs when SpaceX raises a new round or has their valuation determined by an auditor. At this time Ambisafe will re-calculate the token price based on the new valuation and investors will be able to sell their tokens at the new price.

    Should SpaceX go public, it is anticipated that all token holders will have a buyout event. Whereby, the token price will be determined by the price of a public share of SpaceX at the time of the IPO. Token holders will receive a sum in OUSD or a similarly situated “stable coin” equal to the value of their tokens, which they can redeem for a USD wire transfer to their bank anytime, or use to purchase other crypto currencies.

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