CycleWood Solutions successfully sold $1.45 million worth of securities last week. The non-brokered private placement was subscribed by two investors. A previous unregistered offering initiated by the company raised an estimated $550,000 under regulation D. The company is backed by Trailblazer capital a seed and early-stage investment boutique focusing on companies based in Texas, Oklahoma and Arkansas.
The company commercializes a patented technology to make biodegradable and compostable thermoplastic. Its main product is “XyloBag”, a cheap plastic bag alternative designed for everyday-use which breaks down into humus in 150 days. The technology can be applied to a variety of commercial plastics including cup and plates.
The company, headquartered in Dallas TX, is led by Nhiem Cao (Chief Executive Officer). CycleWood Solutions kept its revenues undisclosed. The executive team includes Kevin Oden (COO). The board of directors includes Joel Fontenot and Tom Houle.
Status: Final close
Company: Cyclewood Solutions
Industry: Other Technology
Amount offered: $1.45 million
Amount placed: $1.45 million
First sale: 2014-01-27