Hedera is raising additional funds to support ongoing operations by selling hbars to a small number of institutional purchasers, with coins to be delivered after a multi-year lockup period consistent with Hedera’s previously published coin release schedule.
Under the agreed-upon terms of these sales, purchasers will pay $0.015 per hbar, will not receive any of those hbars for the first two years, and then will receive delivery of the hbars in 12 equal monthly installments beginning two years from the close of the sale (i.e., from month 25 to month 36 following closing).
The hbars that will ultimately be distributed to the counterparties under these agreements are hbars that otherwise could have been release or sold by Hedera from the Treasury account during the next 2-3 years. Hedera expects to raise up to approximately $20 million in these sales, which would account for 1,333,333,333 hbars. Table 1: Hedera coin distribution schedule on page 15 includes the estimated release of these coins.
Details of Hedera's coin economics can be found in the HBAR Economics Whitepaper.