Bitfinex Securities' Hampton Hotel Offering Falls Short of Target
- Bitfinex Securities raised only $342,000 for El Salvador hotel offering.
- Investors offered free nights and unlimited stays for investing.
- Projected hotel revenues of $2.7 million seem ambitious.
- Bitfinex Securities struggles with low trading activity.
- Construction may be at risk if fundraise fails.
Summary :
Bitfinex Securities' new securities offering to raise funds for a Hampton hotel near an airport in El Salvador has fallen short of its target. The offering aimed to raise $6.25 million in 30 days but has only managed to secure $342,000 so far. The hotel's unique incentives for investors, such as free nights and unlimited stays, did not attract enough interest. Additionally, a market study update projected total revenues of $2.7 million for the hotel, which is surprising considering construction is still ongoing and the fundraising documents indicate a tight timeline. Bitfinex Securities has faced challenges in convincing users to use the exchange, with no trades occurring for the blockstream mining note since November 2023. The Mikro Kapital offering sees limited activity, with only a few trades happening on some days. It remains uncertain if construction can proceed if the fundraise fails, as Inversiones Laguardia, the company behind the project, has not responded to inquiries.
Sources :
- Protos
