A first close of $133,000 was initiated by Silikids on its fundraising effort started this month. 33% of the $400,000 non-brokered debt offering was placed with two investors. The private placement will remain open for a year while an additional $268,000 is raised by the company. This debt offering is the first time the company taps into the US private placement market. The debt offering’s expected net proceeds will amount to $376,000 which excludes $24,000 to be paid toward officers’ salaries.
Silikids designs and manufactures modern silicone accessories like bibs and sippy cups for children that appeal to parents. The new line is being released this fall.
Anastacia Feeley (Co-founder and CEO) leads the Traverse City MI based company which was registered in 2011. Revenues on or below $1 million were reported by Silikids for the latest fiscal year. The executive team includes Giuliana Schwab (Co-founder and COO).
Status: First close
Amount offered: $400,000
Amount placed: $133,000