Solaris Power Cells raised $400,000 as part of a fully subscribed non-brokered equity offering. The subscription lured six investors. The company closed three previous unregistered private placements which raised an estimated $375,000.
Solaris Power Cells trades under symbol OTC: SPCL.
Solaris Power Cells designs, markets and manufactures solar energy storage devices, specifically a passive electron storage array power cell. According to the company, the battery doesn’t require maintenance, routine replacement, and is environmentally friendly.
The company, headquartered in Palm Springs CA, is led by Vincent A Palmieri (CEO). Solaris Power Cells elected to keep its revenues undisclosed.
The executive team includes Leonard Caprino, Raymond Madick, Roy Givens and Vincent Anthony Palmieri.
The company has raised an estimated total of $775,000 via private unregistered security offerings.
Company: Solaris Power Cells
Industry: Other Energy
Amount offered: $400,000
Amount placed: $400,000
First sale: 05-20-2014
Data as of: 05-20-2014