Natural Food Works reported selling 55% of its debt issuance via a subscription which launched almost two weeks ago. According to the information disclosed, nine subscribers ponied up $415,000 out of the $750,000 the company expected to raise. $335,000 in additional funding can be raised before April 2015 based on the placement’s structure. A prior unregistered securities offering which raised an estimated $1.7 million was completed by the company.
The company is a food manufacturer for natural and organic brands. The company can manufacture extruded, enrobed products, granolas, cereals, oatmeals and mixes, dehydrated foods and pasta sauces. The company offers three certifications, organic, kosher and gluten-free.
Robert Caseria leads the Denver CO based company. Natural Food Works was registered in 2013. Natural Food Works kept its revenues undisclosed.
The board of directors includes Brian Morrow, George Peinado, Kevin Malloy, Michael Silverman, Ohsang Kwon, Richard Lappen and Ross Shell.
The company has raised an estimated total of $2.11 million via private unregistered security offerings.
Status: First close
Company: Natural Food Works
Amount offered: $750,000
Amount placed: $415,000
First sale: 04-27-2014
Data as of: 05-07-2014