Digital asset platform Bitfinex Securities announced that it will refund investors who participated in the Hilton Hotel project at the International Airport in El Salvador.
The initiative failed to meet the minimum funding requirement of $500,000, only raising $342,000 before the initial deadline, which is just 5% of the targeted amount of $6.25 million.
According to the information, all investors in the project will be compensated. However, the refund will not be immediate as Bitfinex expects the issuer to restructure the offer.
The issuer, Inversiones Laguardia S.A. de C.V., has not yet announced its development plans. As a result, Bitfinex has removed the public offering from its website.
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The funds were directed towards the construction of the 4,500 square meter, five-level, 80-room Hampton by Hilton hotel, which includes a restaurant, work area, pool, fitness center, and garden.
To participate, investors were required to make a minimum investment of $1,000 to purchase “HILSV” tokens on the Liquid Network, with a promised 10% return over a five-year period.
