SkySpecs LLC successfully placed 38% of its $800,000 non-brokered mezzanine offering with eight investors as part of a funding agreement signed last month. The company expects to raise an additional $495,000 to close the offering within a year. This is the first known offering initiated by the company on the US private placement market. The mezzanine offering’s expected net proceeds will amount to $772,000 which excludes $28,000 to be paid toward officers’ salaries.
The company builds remote controlled aircrafts specifically designed for infrastructure monitoring and aerial data collection. The aerial devices can capture footage in hard-to-reach places such as sewers or below bridges, making monitoring and maintenance easier and less costly. The company is the recipient of a $10,000 Invenergy Renewable Energy prize.
The company, headquartered in Ann Harbor MI, was founded in 2012 and is led by Daniel Ellis (Founder and CEO).
The executive team includes Thomas “Tom” Brady (Founder and CFO), Samuel DeBruin (Founder and COO), Ryan Morton (CTO) and Patrick Senatore (Engineering Programs Director).
Status: First close
Company: SkySpecs LLC
Industry: Other Technology
Amount offered: $800,000
Amount placed: $305,000