Is Mistral Capital behind Spot Group’s $2 million equity issuance?

spot group holdingsSpot Group Holdings disclosed placing 47% of its $4.25 million non-brokered equity. Based on the filing, three investors started to subscribe to the $2 million first close on May 5th. The offering will remain open until May 2015 while an additional $2.25 million worth of securities is sold to investors. The equity offering’s estimated net proceeds will amount to $4.15 million which excludes $100,000 to be paid toward officers’ salaries. The company doesn’t appear to have previously sold securities under a registration exemption with the SEC. This transaction might be related to an investment initiated by Mistral Equity Partners*.

Spot Group Holdings markets luxury dog day care services. Services offered include day care, overnights, long-term country boarding, grooming, training, transportation, as well as retail. The company has locations in New York City as well as at Newark Liberty and Chicago O’Hare airports.

Spot Group Holdings, registered in 2014, is headquartered in New York NY. It is led by Jeffrey Ginsberg (President and CEO). Revenues were not disclosed.
The executive team includes Mitchell Marrow.
The board of directors includes William Phoenix.

*Based on the information provided in the document and our research, it seems this transaction is backed by Mistral Equity Partners. The investment is much lower than the firm’s typical sweet spot, however the equity issuance might be related to the consolidation of The Spot Group under the holding.

Offering recap
Status: First close
Company: Spot Group Holdings
Industry: Other
Amount offered: $4.25 million
Amount placed: $2 million
First sale: 05-05-2014
Data as of: 05-19-2014


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