Change: offered +164% / raised +108% / placed 79%
Soapbox Soaps re-opened and upped its debt financing to $330,000 from $125,000 after selling additional securities. A total of two additional backers invested $135,000 in the company’s offering. The prior information, filed almost six months ago, stated one investor had committed $125,000. Soapbox Soaps’ offering has $70,000 left up for subscription. The offering’s expected net proceeds will amount to $326,000 which excludes $4,000 to be paid toward officers’ salaries. The subscription is structured to close once the 21% left is fully subscribed or in six months at the latest. The company closed three unregistered private placements which raised an estimated $2 million.
The company markets natural soap with a purpose. The company donates either one bar of soap, fresh water or vitamin supplement to a child in need for every bar of soap purchased. The company donates in the US and also abroad. The company’s products include bar ($4.99) and liquid soap ($6.99) and it is in the process of launching body wash. Soaps contain gluten free ground oatmeal, organic shea butter and sea salt. They are free of palm oil, parabens, phthalates, sodium lauryl sulfate and other petrochemicals.
The company, headquartered in Alexandria VA, is led by David W Simnick (CEO and Co-founder). Soapbox Soaps kept its revenues undisclosed.
The executive team includes Daniel Doll.
The company has raised an estimated total of $2.26 million via private unregistered security offerings.
Status: Intermediary close
Company: Soapbox Soaps
Amount offered: $330,000
Amount placed: $260,000
First sale: 10-02-2013
Data as of: 03-20-2014