SINGAPORE, July 9, 2024
/PRNewswire/ -- Terraform Labs Pte. Ltd. (TFL), a leading
software company specializing in blockchain technology, today
announced a strategic sale process of its business, including its
wholly owned subsidiary, Proximity Panorama, LDA, as part of its
ongoing chapter 11 case. Such a sale is part of TFL's broader
wind-down of operations under the terms of its settlement with the
U.S. Securities and Exchange Commission.
TFL is actively exploring options to sell the following
businesses:
- Pulsar: A portfolio tracker with over 100 blockchains
indexed and a proprietary indexing SDK which abstracts protocols
and RPC nodes to simplify data integration with
projects.
- Station: A non-custodial interchain hot wallet
originally focused on the Cosmos ecosystem with browser and mobile
functionality and over 600,000 downloads to date.
- Enterprise: A no-code DAO management platform enabling
organization, treasury management, spending via governance vote,
and staking rewards distribution for DAOs.
- Warp: An on-chain decentralized automation
protocol for condition-based execution of smart contracts.
The sale process represents a significant step in TFL's
efforts to maximize value for its creditors and other stakeholders,
as part of its broader wind-down of operations. Potential buyers
are encouraged to express their interest and seek further
information through TFL's investment banker, CAVU Securities, LLC
(CAVU Securities).
Interested parties should contact CAVU Securities directly for
additional information and to express their interest in acquiring
any of the businesses listed above.
CAVU Securities Contact Information:
Chris
McMillan
Senior Managing Director, Head of Tech Advisory
cmcmillan@cavusecurities.com
Trent Martensen
Senior Managing Director
tmartensen@cavusecurities.com
About Terraform Labs:
Established in 2018 and based in Singapore, Terraform Labs Pte Ltd. (TFL) is a
leading software development company specializing in blockchain
technology. Powered by a globally distributed workforce of
experienced Web3 developers and crypto natives, TFL is
one of the few companies to have developed an end-to-end Web3
experience, inclusive of a blockchain, wallet, block explorer, RPC
solution, set of apps, and a suite of developer tools. Aiming to
enable the next evolution of the Internet built on robust,
decentralized economies, TFL serves as a core
contributor to the Terra blockchain and is the creator of products
and tools such as Alliance, Station, Warp, and Enterprise.
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SOURCE Terraform Labs PTE Ltd.