Mojo Organics reported selling 83% or $835,000 of a new unregistered private offering. A total of eight investors subscribed on February 27th to the company’s $1 million non-brokered equity financing. Based on the offering’s structure, the company has until February 2015 to raise an extra $167,000. Two previous unregistered financing rounds raised an estimated $1.45 million. The company trades over the counter under the symbol “MOJO”.
The company develops, produces, markets and distributes “Chiquita Tropicals” fruit juice. The 100% fruit juice beverage is produced under a license agreement from Chiquita Brands. The beverage is made with Rainforest Alliance Certified fruits and has zero added sugar, no preservatives, is naturally low sodium, vegan, naturally gluten free, non-genetically modified, and kosher.
The company, headquartered in Jersey City NJ, is led by Glenn Simpson (CEO). Mojo Organics elected to keep its revenues undisclosed.
The board of directors includes Jeffrey A Devlin and Richard X Seet.
In a concurrent filing, Mojo Organics disclosed having raised $1 million in a fully subscribed offering.
The company has raised an estimated total of $3.29 million via private unregistered security offerings.
Status: First close
Company: Mojo Organics
Amount offered: $1 million
Amount placed: $835,000
First sale: 02-27-2014
Data as of: 03-14-2014