The ODDITY token promises investors financial access and innovation.
NEW YORK April 26, 2022 (BUSINESS WIRE)
ODDITY, the parent company of IL MAKIAGE and SpoiledChild, has today launched a digital security token on the Ethereum blockchain, which provides a new platform for investors to participate in the company's performance.
"With this offering, we are democratizing individual access to ODDITY securities, as we continue to disrupt and redefine the beauty and wellness category," said Oran Holtzman, co-founder and CEO of ODDITY. "Crypto and blockchain technology offer an enormous opportunity to consumers and capital markets. "We are building a new bridge to connect traditional markets with the vibrant world of digital assets, where innovation potential is enormous."
"We believe in a future in which securities are not just ownership records, but also functional lines of code," says Lindsay Drucker Mann, the global CEO of ODDITY. "The potential use cases of this technology are enormous, and as a digital and technology powered company, we believe we are especially well equipped to assist drive it forward."
Offering for ODDITY tokens
At the time of an initial public offering, the ODDITY token is a digital security that automatically converts into ODDITY Class A ordinary shares.
Plus the traditional institutional investor community, the offering democratizes investment access to qualified individuals.
Taking advantage of key information on the blockchain and applying smart contracts to perform certain tasks, this innovation may provide significant capital efficiency benefits across the capital markets.
The ODDITY Token offer will be open from April 26, 2022 to May 11, 2022. For full terms and restrictions, please contact.
In accordance with the Securities Act of 1933, the ODDITY Token will be offered to accredited investors in the United States under Section 506(c) thereunder, or outside the United States to non-U.S. persons engaged in offshore transactions in violation of the Securities Act. Upon receipt of the ODDITY Token, any non-U.S. person shall be deemed to have represented that they are eligible to purchase the ODDITY Token in accordance with their jurisdiction, and, if applicable, that they
ODDITY does not intend to file a registration statement for the sale of the ODDITY Token (or the shares issuable upon the conversion thereof) only in situations that are excluded from registration under or not subject to the Securities Act or other securities laws. Moreover, investors may be subject to a lock-up in an IPO in which they may not lend, sell, sell, or otherwise transfer the ODDITY Token prior to the completion of an IPO, subject to specific restrictions.
This shall not be a sale or a sale of the securities, nor shall it be a sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
ODDITY, a consumer-tech company, is growing and expanding digital-first brands to disrupt the offline-dominated beauty and wellness industries. It has a US headquarters in New York City and a R&D center in Tel Aviv, Israel, which leverages data science, machine learning, and computer vision capabilities to provide an easier online experience for consumers.
ODDITY has developed several key consumer-facing technology products as part of its technology platform, which currently serves its own brands and over 30 million users.
- POWERMATCH an AI- and Machine Learning-driven matching engine to deliver consumers the perfectly-matched shades for them
- Kenzza a patented creator-powered in-house media platform that represents one of the largest libraries of bespoke beauty media content in the world
- A patented hyperspectral image recovery software, catapulting the company into the forefront of innovation in computer vision
- SpoiledBrain an AI- and Machine Learning-driven matching engine to pair consumers with wellness products
The company is developing strategies to offer its technology capabilities to other industries.
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