One financial backer invested $516,000 in return for unregistered equity securities issued by GrowLife. The transaction completed a little over a week ago via a non-brokered private placement. The company closed three previous unregistered private placements which raised an estimated $42.5 million.
GrowLife trades under symbol OTC: PHOT.
GrowLife markets products and services addressing the needs of legal cannabis growing and retail operations, including hydroponic growing equipment and retail support software. The company provides these solutions through a nationwide retail network, as well as online sites Greners.com, Phototron.com, Growlifehydroponics.com, 58hydro.com and StealthGrow.com. The Company offers financial support and consulting services to help growers expand their businesses. The company also operates the political and social forum, Cannabis.org.
The company, headquartered in Woodland Hills CA, is led by Marco Hegyi (President). GrowLife elected to keep its revenues undisclosed.
The board of directors includes Jeff Giarraupto, Mark E Scott and Tony Ciabattoni.
The company has raised an estimated total of $43.02 million via private unregistered security offerings.
Industry: Other Technology
Amount offered: $516,000
Amount placed: $516,000
First sale: 06-04-2014
Data as of: 06-12-2014