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Berachain Co-founder Response to "Nova Digital Holds $25 Million Investment Refund Right": The report is neither accurate nor complete, and Nova remains one of the largest token holders
BlockBeats News, November 25th, Berachain Co-founder Smokey the Bera responded to the news of "Berachain reportedly granting Nova Digital a $25 million refund right in Series B funding" on social media, stating that the report was "neither accurate nor complete."
Smokey the Bera clarified the details of Brevan Howard's investment agreement: Brevan Howard, through its Abu Dhabi-based Nova Fund, co-led Berachain's Series B funding a year ago, with investment terms identical to other investors. Nova's compliance team requested additional terms to mitigate the risk of TGE failure and non-listing, leading to the signing of an additional commercial agreement, including a commitment to provide liquidity after the network's launch.
Smokey the Bera emphasized that Nova remains one of Berachain's largest token holders, potentially even the largest. They hold locked BERA tokens from the Series B funding and liquid BERA tokens purchased from the open market, continuing to accumulate amidst market fluctuations.
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