💰 tZERO still negotiating funding from Makara and GSR Capital; misses mid-April target

Overstock.com's subsidiary tZERO did not close negotiations with to funding firms, Makara and GSR Capital, and so missed its mid-April $100 million funding target according to a shareholder letter. GSR Capital does have a binding funding obligation of $30 million based on tZERO security tokens it purchased due the first week of May. The deal between GSR Capital and tZERO has been delayed multiple times since a reported Dec. 2018 closing date.