EFTA02361144.pdf

From: Brock Pierce Sent: Friday, November 6, 2015 11:25 PM To: Jeffrey Epstein; Richard Kahn Subject: Fwd: Blockstream Series A - Pro Rata Notice Attachments: Blockstream - Series A - Notice of Issuance of New Securities CCP.DOC FYI Forwarde= messy e From: Erik Svenson< Date: Thu, Nov 5, 20 Subject: B=ockstream Series A - Pro Rata Notice ephensim.com», Brock Brad and Bart, Thanks again fo= all the help with investor intros. Below is the formal notice we're s=nding all seed investors. Let me know if you have any questions. Thanks, Erik <=iV> Blockstream continues to=charge forward both on the technology/product front and with respect to gr=wing our organization. Based on inbound investment interest from both VCs =nd the strategic investment groups at several financial services companies= we are in the process of raising a Series A. We =greed to a term sheet with Horizons Ventures as our lead investor and have=recently closed on $20m of Horizons' potential $26m investment. Curren=ly, we are targeting a $50m round based on a $200m pre-money valuation. Th= term sheet gives us flexibility to increase the round to $60m. We will ke=p the round open through the end of the year, unless we close the entire a=ount sooner. (We have not announced this financing or shared these details=outside of discussions with potential investors, so please treat these det=ils as confidential.) Attached, is a formal notic= of your pro rata investment rights, based on the Seed Preferred Shares do=uments. Per these terms, please let us know as soon as possible, but no la=er than 20 days from today about your interest in participating in the Ser=es A. If you elect to participate, we will help you close your Series A in=estment as soon as possible. Because the total ro=nd size has not been determined, we are not able to calculate a definitive=pro rata participation for you; however, because we are targeting $50m, we=are using that as a basis for the pro rata allocation of all Seed investor=. EFTA_R1_01352908 EFTA02361144 Assuming this allocation, if we decide to r=ise more than $50m, you will be able to increase your investment to achiev= your pro rata level. If we raise less than $50m, your investment may resu=t in a higher ownership percentage than your pro rata rights suggest. We w=ll also try to accommodate if you know today that you would like to invest=more than your pro rata allocation. Please let us=know if you have any questions on the above or would like us to provide ad=itional information before you make your final decision. As always, thank you for your support of Blockstream! Regards, Austin Hill, CEO an= Erik Svenson, VP Finance and Operations Erik Svenson =i style="font-family:sans-serifline-height:15px;color:rgb(128,128,128);=mpty-cells:show;border- color:rgb(128,128,128)">VP of Finance & Operati=ns, Blockstream Digitizing the Planet's Assets. Website <http://www.blockstream.com/> I <=pan style="text-decoration:underline;color:rgb(51,153,204)15Twitter <https://twitter.com/TheBlockstream> =/span> Brock Pierce =span style="font-size:l4pt;font-family:Garamond,serif"> <https://mail.google.com/mail/u/3/?ui=2=amp;ik=c725a3lbdb&view=fimg&th=l4d77e37423947fd&attid==.0.1&disp=e 2 EFTA_R1_01352909 EFTA02361145 mb&attbid=ANGjd.I-9S8L8mbdj7Bk_vx0zzznCZa8MyylstaFtJr=6fEyzMqXH4JAuaUjRWmeWR-y.IXI2Nwn5gx33C- 9dHxRu6heuwRbANITjiWeDWByhblcvHdnNaN=YTEsUbm8K0&sz=s0-175- ft&ats=1432247779936&rm=14d77e37423=47fd&zw&atsh=1> =div style="font-family:Calibri,sans-serif;font-size:14px">Managing Partner =span style="font-size:l0ptfont- family:Garamond,serif">Blockchain Capital LLC Follow me on Twitter: @brockpierce <http://www.twitter.cogbrockpierce> Co-invest with Blockchain Capital @ https://angel.co/blockcha=n-capital/syndicate <https://angel.c./blockchain- capital/syndicate> linkedin: http://www.linkedin.com/in/brockpierce <http://www.linkedin.com/in/bro=kpierce> I=PORTANT NOTICE: This message is intended only for the use of the indivi=ual or entity to which it is addressed, and may contain information tha= is privileged, confidential and exempt from disclosure under applicablelaw. If the reader of this message is not the intended recipient, or the<=r>employee or agent responsible for delivering the message to the intended=br>recipient, you are hereby notified. 3 EFTA_R1_01352910 EFTA02361146