Oddity, parent of Il Makiage, which opened a pop-up shop in New York in 2018, is one of the first non-crypto-focused companies to offer a security token.April 26, 2022 5:30 am ET
Oddity Tech Ltd., a New York-based online beauty-care retailer, is going to offer investors a new kind of security that combines traditional equities with the digital infrastructure behind cryptocurrencies. Oddity, which sells products through its Il Makiage and SpoiledChild brands, is offering a so-called security token. The token converts into a share of stock in an eventual initial public offering at a 20% discount to the IPO price. Proceeds will be used for general corporate purposes, the company said.