Change: offered +49% / raised +100% / placed 50%
Earthineer upped its equity financing by 49% to $373,000 following additional commitments. This is the first time the offering, which launched in January 2013, is reported as subscribed. The seven investors started to acquire $188,000 worth of securities in January 2013. There is now $185,000 in securities left up for subscription. The offering’s expected net proceeds will amount to $323,000 which excludes $50,000 to be paid toward officers’ salaries. The offering is structured as indefinite and will remain open until fully subscribed. This is the first offering of unregistered securities under regulation D reported by Earthineer.
The company developed and maintains a free social website for sustainable living and homesteading. The platform offers users premium content from professionals and a way for homesteading communities to connect and share resources. The company will be releasing a trading and bartering tool toward the end of the year.
The company, headquartered in Glencoe KY, is led by Daniel Adams (President). Earthineer kept its revenues undisclosed.
Status: Intermediary close
Industry: Other Technology
Amount offered: $373,000
Amount placed: $188,000
First sale: 01-17-2013
Data as of: 03-20-2014