SnowShoe files for first close after selling 72%

snowshoeA first close of $1.88 million was initiated by SnowShoe on its $2.6 million equity offering. So far twenty-six investors committed to the non-brokered placement which started on July 24th. Based on the offering’s structure, the company has until July 2015 to raise an extra $719,000. Two previous unregistered financing rounds raised an estimated $1 million.

SnowShoe develops and markets small blocks of conductive material, or stamps, that when put in contact with touchscreens is authenticated. The company sells an application programming interface (API) for developers to leverage the technology.

The company, headquartered in San Francisco CA, is led by Claus C Moberg (CEO). SnowShoe elected to keep its revenues undisclosed.
The executive team includes Jami Morton.
The board of directors includes Donald W Layden, Elizabeth Eversoll, Matthew Luedke and Thomas P Kunes.

The company has raised an estimated total of $2.88 million via private unregistered security offerings.

SnowShoe is registered under the name SnowShoeFood

Offering recap
Status: First close
Company: SnowShoe
Industry: Other Technology
Amount offered: $2.6 million
Amount placed: $1.88 million
First sale: 07-24-2014
Data as of: 08-07-2014

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