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