7% of Blackcraft Cult‘s $2 million unregistered private offering was placed a few days ago. The non-brokered equity securities were subscribed by three investors. The first close garnered $135,000. An additional $1.87 million in funding is to be raised until the offering draws to a close in May 2015. It appears to be the first time the company is filling a security offering under a registration exemption.
Blackcraft Cult trades under symbol OTC: BLCK
Blackcraft Cult markets and designs apparel products and accessories. The brand quickly gained acceptance and spread throughout the music, fashion, and tattoo communities, gaining credibility and exposure once people and bands such as Slayer, Deftones, Fall Out Boy, Kesha, Marilyn Manson, Alice Cooper, and AFI started to ware the company’s products.
The company, headquartered in Orange CA, is led by Robert Schubenski (CEO). Blackcraft Cult elected to keep its revenues undisclosed.
The executive team includes James Somers and Robert William Schubenski.
The company’s subsidiary Blackcraft Emoji raised an estimated $500,000 under regulation D. Blackcraft went through a reverse takeover following to which transaction Blackcraft Emoji became a subsidiary of Blackcraft Cult.
Status: First close
Company: Blackcraft Cult
Industry: Other Technology
Amount offered: $2 million
Amount placed: $135,000
First sale: 05-15-2014