Kodak is seeking more cash to launch its long-awaited digital currency. Wenn Digital, the company that licenses Kodak’s name, hopes to raise $10 to $40 million from accredited investors starting May 21. obtained 3 million 250 thousand dollars from institutional investors. The company expects to receive an additional $6.75 million in a second round of funding.
KodakOne co-founder Cam Chell told Bloomberg, “The additional $10 million is required by our business plan. Our ideal target is $40 million.”
Chell said the offer was also recorded as a security. While investors paid only 25 cents for a token last year, the price of a token in the final round will be $1.
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