Change: offered +0% / raised +54% / placed 56%
According to the information disclosed by Petbrosia, subscription to its $1.25 million equity issuance increased by 54%. An additional $250,000 worth of securities was placed by the company with three investors since the company last released data a little over a month ago. This brings to $700,000 the amount raised from the seven backers who subscribed to the offering. The subscription will close either once the offering is sold in full or in almost a year, whichever one comes first. This is the first time the company is offering securities under regulation D of the Securities Act of 1933.
The company manufactures and distributes pet food that is tailored to each cat or dog’s unique needs. Petbrosia’s website lets pet owners order custom made food blends based on natural ingredients. After responding to a questionnaire to know the pet, veterinarian and nutritionist designed algorithms which will craft the optimal blend of protein, carbohydrates, and fats based on the pet’s needs. The food’s blend automatically adjusts over time based on the pet’s past and new information provided. Delivery can also be automated.
Keith Johnson (CEO) leads the Cincinnati OH based company which was registered in 2013. Petbrosia kept its revenues undisclosed.
The board of directors includes Mark Dawes and Todd Federman.
Status: Intermediary close
Industry: Other Technology
Amount offered: $1.25 million
Amount placed: $700,000
First sale: 01-27-2014
Data as of: 03-12-2014