Digital asset platform Bitfinex Securities has announced that it will refund investors who participated in the Hilton Hotel project at El Salvador International Airport.
The initiative failed to meet the minimum funding requirement of $500,000, raising only $342,000 before the initial deadline, which is only 5% of the target amount of $6.25 million.
According to the information, all investors in the project will be compensated. However, the reimbursement 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 disclosed its development plans. As a result, Bitfinex has removed the public offering from its website.
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The funds were intended for the construction of the Hampton by Hilton hotel – a facility with an area of 4,500 square meters, five floors, 80 rooms, a restaurant, a work area, a pool, a fitness center, and a 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 return of 10% over a five-year period.
