Berachain’s BERA Token Faces Rare Post-TGE Refund Right in $25M Series B Backed by Brevan Howard’s Nova Digital Fund
COINOTAG News, citing UnchainedCrypto, reports that granted ‘s a on its investment, and that this clause was not disclosed to other investors. The round raised at least $142 million, and the token hit a $1.5 billion valuation in the last funding cycle. The round was co-led by and , Brevan Howard’s crypto arm managing a $340 billion hedge-fund platform.
Industry lawyers say such refund-right clauses are extremely rare in token financing. If exercises the option, could be forced to raise $25 million in cash to repay internal investors; the allocations may be forfeited due to a one-year lock-up on investor tokens. The deadline for exercising the refund right is February 6, 2026, and questions persist about the clause’s legality given the lack of notice to other stakeholders.