Sample Term Sheet
고지 사항: 이 백서는 영어 버전이 공식 문서입니다. 다른 언어 버전은 참고용입니다。
PIPO Covered Warrant - Sample Terms
섹션 제목: “PIPO Covered Warrant - Sample Terms”Warrant Details
섹션 제목: “Warrant Details”| Field | Value |
|---|---|
| Issuer | PIPO Holdings Ltd |
| Warrant Type | Call Warrant |
| Underlying | SpaceX, Inc. Common Stock |
| Strike Valuation | $200,000,000,000 (US$200B) |
| Issue Date | [Date] |
| Expiry Date | December 31, 2025 |
| Exercise Style | Bermuda (Quarterly + Event windows) |
| Settlement | Cash (default) or Physical (VIP only) |
| Notional | US$1.00 per warrant token |
| Minimum Trade | US$100 equivalent |
Exercise Windows
섹션 제목: “Exercise Windows”| Window | Dates | Duration |
|---|---|---|
| Q1 2025 | March 15-19, 2025 | 5 days |
| Q2 2025 | June 15-19, 2025 | 5 days |
| Q3 2025 | September 15-19, 2025 | 5 days |
| Q4 2025 | December 15-19, 2025 | 5 days |
| Event-Triggered | 48-72h from qualifying event | Variable |
Settlement Terms
섹션 제목: “Settlement Terms”Cash Settlement:
Payout = max(0, (Settlement Price - Strike) / Strike) × Notional × (1 - Fee)
Where:- Settlement Price = Oracle-determined valuation at exercise- Strike = $200,000,000,000- Notional = $1.00 per token- Fee = 1.0%Physical Delivery (VIP only):
- Minimum: $500,000 position
- Discount: 20% from cash settlement value
- Additional fees: 2% transfer + legal
- Timeline: 10-15 business days
Collateral
섹션 제목: “Collateral”| Component | Description |
|---|---|
| Backing Asset | SpaceX Common Stock |
| Custodian | [Qualified Custodian Name] |
| Reserve Ratio | 100% (fully collateralized) |
| Verification | Quarterly attestation + annual audit |
Oracle
섹션 제목: “Oracle”| Component | Description |
|---|---|
| Provider | PIPO Oracle Committee |
| Methodology | Multi-source weighted average |
| Update Frequency | Monthly + events |
| Dispute Window | 6 hours post-publication |
Fees
섹션 제목: “Fees”| Fee Type | Rate |
|---|---|
| Trading Fee | 0.30% |
| Settlement Fee | 1.00% |
| Physical Delivery | 2.00% + legal |
| Rollover | 1.00% + time value |
Risk Factors
섹션 제목: “Risk Factors”Investors should carefully consider the following risks:
- Total Loss Risk: Warrant may expire worthless
- Valuation Risk: Oracle prices may not reflect true value
- Liquidity Risk: May not be able to exit at desired price
- Regulatory Risk: Laws and regulations may change
- Technical Risk: Smart contract or platform failures
- Underlying Risk: SpaceX may experience adverse events
Important Notices
섹션 제목: “Important Notices”- This is a derivative product, NOT equity ownership
- No voting rights or dividends
- Not available to US persons or restricted jurisdictions
- Past performance does not guarantee future results
- Seek independent advice before investing
Governing Law
섹션 제목: “Governing Law”Cayman Islands law shall govern this instrument.
This is a sample term sheet for illustrative purposes only. Actual terms may vary.