Late filer eSurface disclosed selling $3.95 million worth of equity securities as part of a new financing round. The financing which started to sell in April 2013 was subscribed in full by sixty-three investors. The offering’s structure suggests the placement was scheduled to close before April 2014. According to two concurrent filings, this is not the first time the company files unregistered securities with the SEC. It seems the company hasn’t released any information related to its fundraising activity until now.
eSurface commercializes and develops a proprietary patent-pending process that allows electronic circuits to be added to any type or shape substrate including unclad and non-planar. According to the company, the process eliminates the manufacturing etching processes which lowers costs by 65% as well as the creation of toxic waste by-product.
The company is headquartered in Carlsbad CA. eSurface elected to keep its revenues undisclosed.
The executive team includes David Benson, Doug Molyneux, Hsin-hsien Chung and William Wismann.
The board of directors includes Jon “kip” Hunter and Rowland Hanson.
eSurface has reported in concurrent filings closing two offerings which raised $11.26 million.
The company has raised an estimated total of $15.21 million via private unregistered security offerings.
eSurface is registered under the name EarthOne Circuit Technologies.
Industry: Other Technology
Amount offered: $3.95 million
Amount placed: $3.95 million
First sale: 04-22-2013
Data as of: 05-20-2014