Skyonic garnered new subscriptions and upped its offering to $52.7 million

Change: offered +3% / raised +32% / placed 98%

skyonicSkyonic‘s $51 million equity financing round increased by 3% to cap at $52.7 million. One new investor participated to the subscription of $12.5 million worth of securities since the company last released data almost a year ago. This brings to $51.54 million the amount raised from the eleven backers who subscribed to the offering. The subscription is structured to close once the 2% left is fully subscribed or in three weeks at the latest. Up to now Skyonic had raised an estimated $70.5 million in unregistered securities via one financing round. The company disclosed in its press release on May 22nd that existing investor ConocoPhillips (NYSE:COP) and new investor Enbridge (TSX:ENB) participated to the financing.

Skyonic commercializes a technology platform that is designed to extract and mineralize carbon dioxide from industrial flue gas into commercial products, such as baking soda, hydrochloric acid and limestone. The company’s scrubber, called SkyScraper, also removes heavy metals such as mercury.

The company is headquartered in Austin TX. Skyonic kept its revenues undisclosed.
The executive team includes Joe David Jones and Scott Gardner.
The board of directors includes Annie Theriault, Carl Berg, Frank Egan, George Coyle and Phil Ameen.

The company has raised an estimated total of $122.04 million via private unregistered security offerings.

Offering recap
Status: Intermediary close
Company: Skyonic
Industry: Other Energy
Amount offered: $52.7 million
Amount placed: $51.54 million
First sale: 06-18-2013
Data as of: 05-22-2014


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