Change: offered +15% / raised +13% / placed 97%
XDATA – August 21st 2014
Cargo Chief upped its equity financing by 15% to $1.73 million following additional commitments. An additional $193,000 worth of securities was placed by the company with five investors since the company last released data a few months ago. This brings to $1.67 million the amount raised from the twenty-four backers who subscribed to the offering. The subscription is structured to close once the 3% left is fully subscribed or next May at the latest. This is the first offering initiated by the company under regulation D of the Securities Act of 1933.
The company is an emerging online aggregating freight broker that helps shippers to get the best trucking service by uniquely connecting with a network of direct carriers, other brokers, load boards, trucking firms and freight sites.
Russell Jones (President) leads the Palo Alto CA based company which was registered in 2012. Cargo Chief elected to keep its revenues undisclosed.
The board of directors includes Abtin Hamidi, Don Lee, Joe Ruiz, Ray Smith and Tad Buchanan.
Status: Intermediary close
Company: Cargo Chief
Amount offered: $1.73 million
Amount placed: $1.67 million
First sale: 05-09-2014
Data as of: 08-21-2014