Grayl raised $495,000 in equity at first close

graylGrayl reported selling 50% or $495,000 of a new unregistered private offering. A total of eight investors subscribed a little over a week ago to the company’s $1 million non-brokered equity financing. $505,000 in additional funding can be raised before May 2015 based on the placement’s structure. This is the first time Grayl is selling securities under a registration exemption.

Grayl markets, develops and designs a water filtration cup that works like a French press. The cup filters 16 ounces in 15 seconds. Replaceable filters or purifiers last 300 uses (40gal/150L) to reduce waste and save you money. Once the filter is removed, the rest is dishwasher safe. The cup retails for $70, filters for $20 and purifiers for $40.

Nancie Weston (President and CEO) leads the Seattle WA based company which was registered in 2012. Grayl elected to keep its revenues undisclosed.
The executive team includes Travis Merrigan.

Offering recap
Status: First close
Company: Grayl
Industry: Retailing
Amount offered: $1 million
Amount placed: $495,000
First sale: 05-26-2014
Data as of: 06-04-2014


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