A first close of $430,000 was initiated by c-Level Technology on its fundraising effort started this month. 43% of the $1 million non-brokered equity offering was placed with nine investors. The private placement will remain open for a year while an additional $570,000 is raised by the company. This is the first time c-Level Technology is raising money on the private placement market.
The company designs and manufactures consumer electronics device, specifically portable audio devices. The company is the maker of Drytunes a rugged, portable, wireless speaker with internal dry storage that can be controlled by any mp3 device. When closed, the speaker is dust-proof and water-proof so hi-fidelity audio can be enjoyed above or below water.
The company, headquartered in Mandeville LA, was registered in 2012. No revenues were reported for the latest fiscal year. The executive team includes Aeron Mckeough and Cameron M. Mary.
Status: First close
Company: c-Level Technology
Amount offered: $1 million
Amount placed: $430,000