Art Share 003 Extends Offering Period for Gerhard Richter's Art
Art Share 003 Extends Offer Period for Iconic Artwork
Art Share 003 S.A., known for its innovative approach to art investment, has announced an extension to the offering period for the significant artwork, ‘Abstraktes Bild (809-4)’ by renowned artist Gerhard Richter. Initially launched in mid-September, this extension allows investors more time to engage in this unique offering.
Details About the Offer
The initial offering, which generated considerable interest among investors, has now been extended until 24 October. The Issuer, Art Share 003 S.A., is dedicated to providing a platform for art enthusiasts and investors to participate in the ownership of valuable artworks.
Altered Offer Structure
The Seller of the artwork has decided to retain a portion of ownership, up to 25%. This amendment has prompted adjustments to the offering structure, which are detailed in the updated offering memorandum available through the Issuer’s channels.
Foundational Artwork Information
The centerpiece of this offering is Richter’s ‘Abstraktes Bild (809-4)’. This specific piece is part of Richter’s famed Abstraktes Bilder series and has an impressive provenance, including past ownership by famous musician Eric Clapton. Such notable history adds an allure for potential investors.
Investment Opportunities
Art Share 003’s initiative includes a placement of up to 350,000 redeemable class B shares, referred to as Class B Shares. Offered at an equivalent price to USD 100 per share, the total valuation of this offering is set at USD 35 million. This structure not only facilitates investments but also democratizes access to high-value art pieces.
Investment Mechanism
The process is designed to reach qualified and institutional investors, ensuring that ownership can be diversified among a broader base. Those interested in taking part in this offering should reference the Offering Memorandum for more information on terms and conditions.
Anticipated Trading Launch
Once the offering is completed, the trading of Class B Shares on the ARTEX Global Markets is anticipated to begin around the end of October, further opening the doors for investors interested in the fine art market.
About Art Share 003 S.A.
Art Share 003 S.A. is a public company operating under Luxembourg laws, specifically established for securitisation purposes. Through this model, they aim to synchronize investment opportunities with ownership of high-value artworks.
Mission and Objectives
Art Share 003’s mission revolves around making fine art a tangible asset for investors. Their strategic efforts focus on ensuring public understanding and accessibility to art ownership while facilitating investment opportunities in prestigious artworks.
Management Structure
The company is managed by a proficient board, ensuring sound governance and strategic foresight to navigate the complexities of the art investment landscape.
About ARTEX Global Markets
ARTEX Global Markets AG plays a vital role in this ecosystem, providing a regulated platform for art trading. This venture aims to make the art market transparent and accessible, acting as a bridge between investors and iconic artworks.
Business Approach
Founded by prominent figures in art and finance, ARTEX GM aligns with the vision of democratizing art investing, thereby expanding its reach far beyond traditional boundaries. With the goal to empower investors through knowledge and insights, ARTEX GM prioritizes education within the art market.
Regulatory Compliance
By operating under rigorous regulatory frameworks, ARTEX GM maintains high standards ensuring a secure trading environment for investors.
Frequently Asked Questions
What is Art Share 003 S.A.?
Art Share 003 S.A. is a public company focused on enabling fractional investments in high-value artworks.
What artwork is featured in this offering?
The offering features ‘Abstraktes Bild (809-4)’ by Gerhard Richter, a significant piece in the artist's body of work.
How can investors participate in the offering?
Investors can subscribe for Class B Shares through the Offering Memorandum available from Art Share 003 S.A.
When will trading of the Class B Shares begin?
Trading is expected to start on or around 31 October, following the completion of the offering.
Who manages Art Share 003 S.A.?
The company is overseen by a board of experienced individuals, along with support staff to manage operational activities.
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