A first close of $385,000 was initiated by Rx Green Solutions on its fundraising effort started this month. 77% of the $500,000 non-brokered equity offering was placed with three investors. The company expects to raise an additional $115,000 to close the offering within a year. This is the first known offering initiated by the company on the US private placement market.
Rx Green Solutions designs and commercializes all-natural plant nutrient solutions for hydroponic and field application. The company offers commercial grade technologies and solutions to address the needs of urban farmers and growers. The company’s products are available in stores primarily located on the northern east and west coasts or online. The product line encompasses five products ranging in price between $30 to $35.
The company, headquartered in Manchester NH and led by Todd Brady, was registered in 2012. Rx Green Solutions elected not to disclose its revenues.
Status: First close
Company: Rx Green Solutions
Amount offered: $500,000
Amount placed: $385,000