Social Bicycles’ offering lures fifteen backers

XDATA – August 15th 2014

social bicyclesSo far fifteen investors participated to Social Bicycles‘ $3.5 million non-brokered financing round. Financial backers bought, a week ago, 71% of the offering or $2.5 million worth of equity. Based on the offering’s structure, the company has until August 2015 to raise an extra $1 million. Until this disclosure Social Bicycles had raised an estimated $1.5 million in unregistered securities via one previous financing round.

Social Bicycles markets and develops a bike-sharing network solution leveraging mobile technology and GPS. The company’s platform works with regular bike racks making the system affordable and scalable.

The company, headquartered in New York NY, is led by Ryan Rezepecki (CEO). Social Bicycles elected to keep its revenues undisclosed.
The executive team includes Ryan Rzepecki.
The board of directors includes Bradford Higgens, David Rose and Edward Rayner.

The company has raised an estimated total of $4 million via private unregistered security offerings.

Offering recap
Status: First close
Company: Social Bicycles
Industry: Other
Amount offered: $3.5 million
Amount placed: $2.5 million
First sale: 08-08-2014
Data as of: 08-15-2014

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