Intellisys Amends Memorandum, Releases Prospectus on First Acquisition

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Intellisys Amends Memorandum, Releases Prospectus on First Acquisition
Michigan-based sanitary waste disposal company will be ‘foundation of the Mainstreet Investment fund’, says Intellisys CEO, Jason Granger
 

Cayman Islands — Intellisys Capital LLC (“Intellisys”), general partner (GP) of Mainstreet Investment LP, a private investment fund facilitated by the Ethereum blockchain, has amended its initial token offering memorandum (ITOM) in three key areas, as well as the sale’s start date, after consulting with potential investors and the general public. Intellisys has also released an eight-page prospectus on the fund’s first acquisition, a Michigan-based sanitary waste business.

The areas of amendment are:

  • Sale Start Date: Moved to Jan. 23, 2017 with an official end date of Mar. 23, 2017.
  • Ownership and Distributions: Intellisys has, among other related items, modified the Carried Interest Split from 30/70 to 50/50 for investments that require recourse by the GP or its ownership to obtain competitive financing for leveraged buyout options.
  • MIT Clawback and Exit Hurdle: Intellisys has included language that protects Mainstreet Investment Token (“MIT”) capital contributions on investments.
  • Discounts: Intellisys has modified the discount structure to reduce arbitrage concerns for early investors and bulk investors.

To allow time for these newly amended items to be reviewed by interested parties and to provide adequate testing of the smart contract prior to release to trading exchanges, the date of the crowdsale has been moved, according to Jason Granger, chief executive officer of Intellisys.

The revised and updated ITOM can be read in full at intellisys.ai.

In addition to the above changes, Intellisys has also released a prospectus on the fund’s first investment, a sanitary waste disposal company.

As Granger explained, this first business is an essential building block for the fund, an important piece to pave the way for significant growth.

“It is the foundation of the Mainstreet Investment fund,” said Granger. “We have worked tirelessly the last nine months to make this first acquisition happen.”

The prospectus details the sanitary waste company’s history, its management and employee information, industry involvement, affiliations, competitive disposition and more.

The company has 20 years of experience in the sanitary waste industry and is a well-known entity in the space.

“Its well-established presence, combined with the untouched landscape in terms of investment, will allow the fund to lead its first company to new heights, formulating plans of market consolidation and growth,” said Granger.

The long-term goal for the sanitary waste company is to build it into a national organization over the next decade, which will provide sustained gains for investors.

As detailed in the prospectus, an acquisition rollup strategy will take place to acquire three to five companies each quarter with an overall objective of retaining 25 percent of the market share in Michigan over the course of the next five years.

Over 20 companies have already been identified for acquisition with as many as five that will be eligible for closing in early 2017, which will have a significant impact on company performance within the first six months.

Charlie Shrem, chief technical officer of Intellisys, said he was excited to have this first investment in the pipeline.

“We will be closing this deal as soon as we hit the required investment threshold,” he said.

Shrem added, “This will be the first time global crypto-investors will own physical, stable U.S. companies,” providing the opportunity to contribute cryptocurrency-based funding to mainstream American companies.

The prospectus is available to read in full at mainstreet.ky.

About Intellisys Capital
Intellisys Capital Management, LLC, was founded for the purpose of managing a portfolio of companies that have high-growth opportunities. Intellisys is a major shareholder in Mainstreet Investment, LP, a private equity fund powered by the Ethereum blockchain.

For more information visit intellisys.ai and mainstreet.ky.

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