Purfresh reports $1.01 million raised at first close


PFI acquisitionPFI Acquisition (DBA Purfresh) received two commitments for its $6.38 million financing round. Investors committed to buy 16% or $1.01 million worth of equity almost two weeks ago. An additional $5.37 million in funding is to be raised until the offering draws to a close in May 2015. A total of five unregistered securities offerings closed by the company raised an estimated $18.61 million.

The company developed a system to monitor in real time and enhance the atmosphere inside a refrigerated container with the use of ozone. The system allows to ship fresh produce around the world via ocean transit while controlling molds, yeasts, ethylene, Salmonella, E. coli, Listeria and other contaminants in the air and on surfaces.

Brian Westcott (President and CEO) leads the Menlo Park CA based company which was registered in 2012. PFI Acquisition elected to keep its revenues undisclosed.

The board of directors includes Frederick La Grauer and William Elmore.

The company has raised an estimated total of $19.62 million via private unregistered security offerings.

Offering recap
Status: First close
Company: PFI Acquisition
Industry: Other Technology
Amount offered: $6.38 million
Amount placed: $1.01 million
First sale: 05-01-2014
Data as of: 05-13-2014

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