So far eighteen investors participated to CariCord‘s $500,000 non-brokered financing round. Financial backers bought, a few months ago, 90% of the offering or $450,000 worth of equity. The equity offering’s estimated net proceeds will amount to $400,000 which excludes $100,000 to be paid toward officers’ salaries. This is the first time CariCord is selling securities under a registration exemption.
CariCord offers private consumers cord blood and umbilical cord tissue banking services under pharmaceutical grade practices nationwide. The laboratory and repository are located at the University of Colorado’s Anschutz Medical Campus. Prices range from $795 for cord tissue banking to $2,790 for cord blood and tissue banking. Prices cover the collection kit, courier fees and processing. Prepaid storage pricing can go up to $3,750 for 20 years while year to year storage costs between $150 to $250.
Calvin Cole (President and CEO) leads the Irvine CA based company which was registered in 2013. Revenues on or below $1 million were reported by CariCord.
The executive team includes Brian Mcenroe, John Gabriel and Max Brandt.
The board of directors includes Brian Freed and Harry Kloor.
Status: First close
Industry: Other Health Care
Amount offered: $500,000
Amount placed: $450,000
First sale: 12-27-2013
Data as of: 03-26-2014