Big Switch Networks’ $23.5 million offering lures eighteen backers


XDATA – June 26th 2017
So far eighteen investors participated to Big Switch Networks‘ $23.5 million non-brokered financing round. Financial backers bought, on June 9th, 88% of the offering or $20.71 million worth of equity. Based on the offering’s structure, the company has until June 2018 to raise an extra $2.79 million. The company closed three previous unregistered private placements which raised an estimated $79.66 million.
Big Switch Networks markets and develops hyperscale-inspired networking technologies. The company is taking three key hyperscale technologies — OEM/ODM bare metal and open Ethernet switch hardware, sophisticated SDN control software, and core-and-pod data center designs — and leveraging them in fit-for-purpose products designed for use in enterprises, cloud providers, and service providers. Investors include Morgenthaler Ventures, Silver Lake Waterman, Index Ventures, Khosla Ventures, Redpoint Ventures, Accton, CID Group and MSD Capital.
The company, headquartered in Santa Clara CA, is led by Douglas Murray (President). Big Switch Networks elected to keep its revenues undisclosed.
The executive team includes Kyle Forster.
The board of directors includes Bill Meehan, Bruce Armstrong, Dan Warmehoven, Gary Morgenthaler and Mike Volpi.

The company has raised an estimated total of $100.38 million via private unregistered security offerings.

Offering recap
Status: First close
Company: Big Switch Networks
Industry: Other Technology
Amount offered: $23.5 million
Amount placed: $20.71 million
SEC filing: Source
First sale: 06-09-2017
Data as of: 06-26-2017
Similar transactions
2016-08 Tempered Networks files for first close after raising 95%
2016-06 $40 million worth of equity securities were sold by EIP Investment Holdings
2016-05 Protocol Labs files $3.73 million final close
2016-05 Trusted Knight is in the market with a $3.8 million financing round
2016-05 $12.25 million financing completed by Kollective Technology

$23.35 million raised so far by Satellogic (Nettar Group) via private placement


XDATA – June 26th 2017
Satellogic disclosed selling 70% of its $33.35 million non-brokered equity offering to twenty-six investors. The sale started almost two weeks ago according to the document filed at the SEC. Based on the offering’s structure, the company has until June 2018 to raise an extra $10 million. It appears to be the first time the company is filling a security offering under a registration exemption.
The company is registered in a foreign jurisdiction indicating the amount offered reported may only represent the portion of the placement earmarked by the company for US investors.
Satellogic develops smart data solutions, which offer affordable, high-resolution geo-intelligence, with the capability to capture planetary images of one meter resolution. Its data products can be applied in a number of fields including agriculture, pipeline monitoring, critical infrastructure monitoring, business intelligence and disaster response. The company launched sixth micro-satellite aboard a Long March-4B rocket that took off from Jiuquan Satellite Launch Center in China. Investors include Tencent Holdings.
The company, headquartered in Road Town, Tortola Virgin Islands British, is led by Emiliano Kargieman (CEO). Satellogic elected to keep its revenues undisclosed.
The board of directors includes Fernando De Castro Reinarch, Gerardo Gabriel Richarte and Theodore Glass Wang.

Satellogic is registered under the name Nettar Group.

Offering recap
Status: First close
Company: Satellogic
Industry: Other Technology
Amount offered: $33.35 million
Amount placed: $23.35 million
SEC filing: Source
First sale: 06-13-2017
Data as of: 06-26-2017
Similar transactions
2015-07 Late filer Hera Systems reports successful placement of its mezzanine securities
2015-07 Terran Orbital launched $1.5 million mezzanine financing
2015-07 UrtheCast (TSX:UR) raised $157,000 via warrant offer
2015-07 New investors commit to Planet Labs’ financing, cap was revised upward
Change: offered +33% / raised +14% / placed 80%
2015-02 GeoOptics unveils details on its $7 million unregistered offering

Nexamp placed $14.56 million with one investor


XDATA – June 23rd 2017
One financial backer bought $14.56 million worth of equity offered by Nexamp. According to the filing, it was on June 7th that 74% of the $19.56 million non-brokered offering was subscribed. Based on the offering’s structure, the company has until June 2018 to raise an extra $5 million. The company closed three previous unregistered private placements which raised an estimated $41.86 million.
Nexamp markets solutions for the solar energy development while offering capabilities that span the entire solar project lifecycle from project development, design and construction to financing and operations and maintenance. Investors include Mitsubishi Corp via its wholly-owned subsidiary Diamond Generating Corp.
The company, headquartered in Boston MA, is led by Zaid Ashai (CEO). Nexamp elected to keep its revenues undisclosed.
The executive team includes Robert Pantano.
The board of directors includes Bo Buchynsky, David Martirano and Satoshi Hamada.

The company has raised an estimated total of $56.43 million via private unregistered security offerings.

Offering recap
Status: First close
Company: Nexamp
Industry: Other Energy
Amount offered: $19.56 million
Amount placed: $14.56 million
SEC filing: Source
First sale: 06-07-2017
Data as of: 06-23-2017
Similar transactions
2017-05 Pacific International Energy Solutions reported the full subscription of its $21,000 investment round
2017-05 $4.69 million worth of warrant securities were sold by PLH Group
2017-04 Vasari Energy launched $20 million fundraising effort
2016-07 Solar Alliance Energy reached its $97,000 fundraising target
2016-07 Clean Power Engineering launched $1.5 million mezzanine financing

Choice Pet is in the market with a $3.5 million financing round


XDATA – June 21st 2017
Choice Pet is expecting to raise $3.5 million as part of a non-brokered equity issuance. The company structured the offering to remain open until June 2018 if not fully subscribed. No securities have been subscribed by investors yet. Until this disclosure Choice Pet had raised an estimated $1.5 million in unregistered securities via one previous financing round.
Choice Pet develops a chain of pet stores as well as a website specializing in natural, organic and holistic foods for dogs, cats, companion birds, small animals, fish and reptiles.
The company is headquartered in Stamford CT. No revenues were reported by the company.
The executive team includes E Bulkeley Griswold, Jeffrey I Brodlieb, Stephen T Rossetter, Steven G Chrust and Stewart Shanley.The company reported in the past issuing an estimated $3.08 million worth of securities in conjunction with an M&A transaction.

Choice Pet is registered under the name Choice Pet Venture.

Offering recap
Status: Launched
Company: Choice Pet
Industry: Other
Amount offered: $3.5 million
SEC filing: Source
Data as of: 06-21-2017
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2017-02 $2 million financing completed by RiceBran Technologies (NASDAQ:RBIT)
2015-10 Primo Sales placed its mezzanine financing in full
2015-09 Late filer Protein for Pets files for first close after selling 82%
2015-04 Hannah’s files for first close after selling 69%
2015-02 Mud Bay files details on its $81,000 financing

$10.1 million financing final close reported by late filer LoadSmart


XDATA – June 21st 2017
Late filer LoadSmart reported the successful completion of its $10.1 million unregistered debt financing. All the securities were subscribed by three investors. First commitments were received a year ago. The offering’s structure suggests the placement was scheduled to close before June 2017. A prior unregistered securities offering which raised an estimated $3 million was completed by the company.
LoadSmart markets and develops a trucking logistics and freight brokerage platform.
The company, headquartered in New York NY, is led by Ricardo Salgado (CEO). LoadSmart kept its revenues undisclosed.

The company has raised an estimated total of $13.1 million via private unregistered security offerings.

Offering recap
Status: Completed
Company: LoadSmart
Industry: Other Technology
Amount offered: $10.1 million
Amount placed: $10.1 million
SEC filing: Source
First sale: 06-21-2016
Data as of: 06-21-2017
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2017-06 Vantage Freight placed its mezzanine financing in full
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2016-07 AuptiX files for first close after raising 91%
2016-05 BridgeHaul files offering’s details after placing 60% with investors
2016-02 Sontra launched a $2.3 million offering and placed 49%

Ingo Money files for first close after raising $7.03 million


XDATA – June 15th 2017
Ingo Money‘s first close reached $7.03 million. The company’s $12 million non-brokered equity issue was 59% sold to fourteen investors. The first commitments were received a little over a week ago. $4.97 million in additional funding can be raised before June 2018 based on the placement’s structure. The company closed three previous unregistered private placements which raised an estimated $19.26 million.
Ingo Money markets and develops two business lines. Ingo Network Solutions, operated in conjunction with First Century Bank, is a consumer-direct network accessible via mobile and retail channels. Ingo Enterprise Solutions is an omni-channel commercial platform that enables independently licensed financial services firms to deliver immediate, non-provisional funding and payment services to their customers. Investors include Camden Partners, MissionOG, Spring Capital and CNF Investments. Matrix Partners and Ribbit Capital are also investors following the acquisition of Fuze Network.
The company is headquartered in Roswell GA. Ingo Money elected to keep its revenues undisclosed.
The executive team includes Drew Edwards and Rusty Pickering.
The board of directors includes Bailey Robinson, Dickson Chu, Gene Lockhart, Jennifer Hsin, John Collins and Vince Talbert.

The company has raised an estimated total of $26.29 million via private unregistered security offerings.
In addition, the company reported in the past issuing an estimated $7.05 million worth of securities as part of M&A transactions.

Offering recap
Status: First close
Company: Ingo Money
Industry: Other Technology
Amount offered: $12 million
Amount placed: $7.03 million
SEC filing: Source
First sale: 06-05-2017
Data as of: 06-15-2017
Similar transactions
2017-04 Digiliti Money Group (OTCQB:CAFN) reported closing its private placement after a decrease in size and commitments
Change: offered -5% / raised -5% / placed 100%
2017-04 Ezuza sells $700,000 worth of securities
2017-03 Allied Payment Network filed a first close at $13,000
2017-02 Tickmark reports successful placement of its mezzanine securities
2017-01 PayNearMe files for first close after raising 68%

POSaBIT disclosed its equity placement was 90% completed


Change: offered +0% / raised +38% / placed 90%
XDATA – June 13th 2017
According to the information disclosed by POSaBIT, subscription to its $1.5 million equity issuance increased by 38%. An additional $375,000 worth of securities was placed by the company with two investors since the company last released data almost six months ago. This brings to $1.35 million the amount raised from the fourteen backers who subscribed to the offering. The subscription is structured to close once the 10% left is fully subscribed or in six months at the latest. This is the first offering initiated by the company under regulation D of the Securities Act of 1933.
POSaBIT markets and develops a point-of-sale software solution that makes it simple for consumers to acquire cryptocurrency (bitcoin) at the point of sale and then use this currency to make purchases at the store or any place that accepts bitcoin.
The company, headquartered in Seattle WA, was registered in 2015. POSaBIT elected to keep its revenues undisclosed.
The executive team includes G Scott Greenburg, Jon Baugher and Ryan Hamlin.
The board of directors includes Jeff Dossett and Mike Markette.
Offering recap
Status: Intermediary close
Company: POSaBIT
Industry: Other Technology
Amount offered: $1.5 million
Amount placed: $1.35 million
SEC filing: Source
First sale: 12-21-2016
Data as of: 06-13-2017
Similar transactions
2017-02 BitPagos filed for first close after raising 84% of its financing round
2016-11 SNAPCARD unveils details on its $5.86 million unregistered offering
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2016-02 NetCents Systems files details on its $30,000 financing
2015-11 Late filer Bitcash sold $15,000 worth of securities

$2 million equity private placement is initiated by DreamFunded Real Estate


XDATA – June 12th 2017
A $2 million non-brokered equity financing round is being launched by DreamFunded Real Estate. The placement is structured to close in June 2018 should the fundraising target not be reached. The company didn’t report selling securities thus far. This is the first time the company is filling a security offering under a registration exemption with the SEC.
DreamFunded Real Estate markets a funding portal for accredited and non-accredited investors to invest in real estate properties. The company is related to DreamFunded which raised a few funds DreamFunded Diversity Fund 1, DreamFunded TaskRabbit and DreamFunded.com Fund 1.
DreamFunded Real Estate, registered in 2017, is headquartered in San Francisco CA. It is led by Manny Fernandez (CEO). The company reported having no revenues.
Offering recap
Status: Launched
Company: DreamFunded Real Estate
Industry: Other Technology
Amount offered: $2 million
SEC filing: Source
Data as of: 06-12-2017
Similar transactions
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2017-02 First close initiated by FundPaaS after raising 10% of its $500,000 target
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2016-11 New $10 million debt offering launched by SureFunding
2016-10 An additional $1.88 million subscribed for Farmfolio’s equity issuance
Change: offered +0% / raised +500% / placed 87%

Utility files details on its $6.6 million financing


XDATA – June 12th 2017
Not to be confused with Utility.com as on Crunchbase.

Utility raised $6.6 million from three financial backers on May 22nd according to information disclosed by the company. The non-brokered equity offering was fully subscribed. No offering was previously initiated by the company under a registration exemption with the SEC.

Utility markets and develops an intuitive platform for effectively capturing, managing and releasing video evidence. The company’s BodyWorn camera and Rocket IoT in-car video system incorporates real-time communications and policy-based automatic recording functionality for the best situational awareness possible during critical times, while it’s AVaiL Web cloud-based digital evidence management solution securely stores captured evidence and offers Smart Redaction – an automatic video redaction software.
The company is headquartered in Atlanta GA. Utility elected to keep its revenues undisclosed.
The executive team includes Robert S McKeeman and Ted M Davis.

Utility is registered under the name Utility Associates.

Offering recap
Status: Completed
Company: Utility
Industry: Other Technology
Amount offered: $6.6 million
Amount placed: $6.6 million
SEC filing: Source
First sale: 05-22-2017
Data as of: 06-12-2017

$17.5 million equity placement completed by Intralytix


XDATA – June 12th 2017
Intralytix disclosed raising $17.5 million as part of a non-brokered equity private placement. One investor acquired the securities almost two weeks ago. The equity offering’s estimated net proceeds amount to $15.62 million excluding $1.88 million earmarked for the payment of officers’ salaries. No offering was previously initiated by the company under a registration exemption with the SEC.
The company is a biotechnology specialized in bacteriophage-based products used to control bacterial pathogens in environmental, food processing, and medical settings.
The company is headquartered in Baltimore MD. Intralytix elected to keep its revenues undisclosed.
The executive team includes Alexander Sulakvelidze, John J Woloszyn and Mel Ruzicka.
The board of directors includes Gary Pasterneck and Patrick Hervy.
Offering recap
Status: Completed
Company: Intralytix
Industry: Other
Amount offered: $17.5 million
Amount placed: $17.5 million
SEC filing: Source
First sale: 05-31-2017
Data as of: 06-12-2017