AIM-OBMedical-2014 disclosed selling $550,000 worth of equity securities as part of a new financing round. The financing which started to sell on May 19th was subscribed in full by fifty-one investors. The equity offering’s expected net proceeds amount to $534,000 excluding $16,000 earmarked for the payment of officers’ salaries. No offering was previously initiated by the company under a registration exemption with the SEC.
The company is a special purpose vehicle set up for an investment by The Angel Investor Management Group (AIM Group) in OBMedical. OBMedical is a medical device company commercializing the LaborView. The device is a wireless, electrode-based, electronic maternal-fetal monitor sensor system that measures labor contractions and the heart rates of both mother and child.
The company, headquartered in Auburn AL, was registered this year. Revenues were not disclosed.
The executive team includes Daniel Clay Corman, James Franklin Corman and Management Group Llc An Angel Investor.
OBMedical has not yet reported the investment with the SEC.
Amount offered: $550,000
Amount placed: $550,000
First sale: 05-19-2014
Data as of: 06-02-2014