Change: offered +140% / raised +82% / placed 42%
Ephesus Lighting upped its financing by 140% to $1.2 million following additional commitments. An additional $230,000 worth of securities was placed by the company with four investors since the company last released data a few months ago. This brings to $500,000 the amount raised from the eight backers who subscribed to the offering. The subscription will close either once the offering is sold in full or next October, whichever one comes first. Up to now Ephesus Lighting had raised an estimated $1.25 million in unregistered securities via one financing round.
The company designs, engineers, and manufactures innovative LED lighting solutions for commercial, industrial and entertainment venues. The company is carving itself a niche in indoor sporting arenas as power infrastructure to support the company’s LED solution is dramatically less than that needed to support outdated metal halide solutions. The company’s solutions lower energy cost and open the door to use battery back-up system for safety. According to an article on Sporttechie, the system installed by the company in the Syracuse War Memorial Arena led to an 87 percent decrease in energy costs in 2013 from 263,000 to 32,000 Kilowatts. Ephesus is a woman-owned company.
Amy Casper (CEO) leads the Syracuse NY based company which was registered in 2012. Ephesus Lighting kept its revenues undisclosed.
The executive team includes Casper Amy, Joseph Casper, Michael Lorenz and Andrew Sussman. The board of directors includes Christopher Nolan.
The company has raised an estimated total of $1.75 million via private unregistered security offerings.
Status: Intermediary close
Company: Ephesus Lighting
Industry: Other Technology
Amount offered: $1.2 million
Amount placed: $500,000