Change: offered +33% / raised +100% / placed 69%
Catalytec upped its financing to $1 million from $750,000 after receiving new commitments. This is the first time the offering, which launched a couple of months ago, is reported as subscribed. The ten investors started to acquire $685,000 worth of securities one month ago. There is now $315,000 in securities left up for subscription. The private placement’s expected net proceeds will amount to $900,000, excluding $100,000 paid in brokerage fees by the company. The subscription will close either once the offering is sold in full or in about a year, whichever one comes first. This is the first time the company is offering securities under regulation D of the Securities Act of 1933.
Catalytec commercializes a system that can convert multiple waste streams to profitable liquid fuel, using a carbon neutral, highly efficient, pollution-less, modular and economically viable process. According to the company, the fuel produced, using municipal solid and/or liquid waste as feedstock, is a straight fuel with equal or better power (BTU’s) produced, as compared to US highway #4 diesel fuel (ASTM D975). The resulting fuels can also be mixed with conventional or existing fuel supplies.
The company is headquartered in Reno NV. Revenues were not reported.
The executive team includes Harold Gentner, Jeffery Hershkowitz and L Christian Koch.
Status: Intermediary close
Amount offered: $1 million
Amount placed: $685,000
First sale: 04-30-2014
Data as of: 06-13-2014