Lumacyte disclosed selling 2% of its $2 million non-brokered financing round to one investor. According to the filing, $30,000 worth of equity was subscribed a little over a week ago. An additional $1.97 million in funding is to be raised until the offering draws to a close in April 2015. The equity offering’s expected net proceeds will amount to $1.9 million which excludes $100,000 to be paid toward officers’ salaries. This is the first time Lumacyte is selling securities under a registration exemption.
The company developed and produces microfluidic and optics based instruments and sub-components that enable cell biologists, biomedical researchers, pharmaceutical and biotechnology companies to characterize, select, and sort mammalian cell samples without the use of antibody labels.
Sean J Hart (CEO) leads the Keswick VA based company which was registered in 2012. Revenues on or below $1 million were reported by Lumacyte.
The executive team includes Sean Jeffrey Hart.
The board of directors includes Renee Adele Hart.
Status: First close
Amount offered: $2 million
Amount placed: $30,000
First sale: 04-30-2014
Data as of: 05-09-2014