@cryptobanker

Berachain Reportedly Offered $25.00 Million Refund Rights to Nova Digital in Series B Funding It has been revealed that Berachain granted Nova Digital, a subsidiary of Brevan Howard, a $25.00 million "refund right" in its Series B funding round in 2024, allowing it to demand the return of its entire invested principal within one year after the TGE on February 6, 2025; according to the additional terms, Nova must deposit $5.00 million into Berachain within 30 days after the TGE in order to exercise this right. This rare clause was not disclosed to other investors, raising questions about whether it violated MFN clauses and information disclosure obligations, while the BERA price has also fallen by approximately 66% compared to Nova's $3.00 investment price. Berachain co-founder Smokey the Bera responded that all parties participated in this round of financing using the same documents, but did not answer specific questions or explain the relevant commercial agreement.

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