Change: offered +15% / raised +8,300,000% / placed 100%
BioLargo closed its unregistered equity offering after increasing the placement’s size by 15% to $863,000. According to information released by the company six months ago, one investor bought $15,000 worth of securities on September 3rd 2013. At close, twenty-three subscribers had committed to acquire $863,000 worth of securities. The private placement, excluding $200,000 paid to officers and $47,000 paid in placement fees, is expected to bring net proceeds of $615,000. The company closed sixteen unregistered private placements which raised an estimated $15.89 million. The company trades on the OTC under ticker “BLGO”.
The company provides solutions for odor and moisture control, disinfection and contaminated water treatment using its suite of patented and patent-pending intellectual property technology. The technology works by combining micro-nutrient salts with liquid from any source to deliver free-iodine on demand, in controlled dosages, in order to balance efficacy of performance with concerns about toxicity. Its technology has potential commercial applications within global industries, including but not limited to oil and gas, animal health, beach and soil environmental uses, consumer products, agriculture, food processing, medical, and water.
The company, headquartered in Santa Ana CA, is led by Dennis P Calvert (President). Revenues on or below $1 million were reported by BioLargo.
The executive team includes Charles K Dargan, Joseph L Provenzano and Kenneth R Code.
The board of directors includes Dennis E Marshall, Gary A Cox, John S Runyan and Kent C Roberts.
The company has raised an estimated total of $16.72 million via private unregistered security offerings.
Amount offered: $863,000
Amount placed: $863,000
First sale: 09-03-2013
Data as of: 04-10-2014