Verve Mobile unveils details on its $5.74 million unregistered offering


XDATA – August 26th 2014

verveAfter twenty-three financial backers subscribed to 71% of its equity financing round, Verve Mobile disclosed initiating a first close after raising $4.1 million. The subscription to the $5.74 million non-brokered private placement started on August 12th according to information filed with the SEC. Based on the offering’s structure, the company has until August 2015 to raise an extra $1.64 million. A total of eight unregistered securities offerings closed by the company raised an estimated $36.26 million.

Verve Mobile develops and markets a location-based mobile advertising platform.

The company is headquartered in Carlsbad CA. Verve Mobile elected to keep its revenues undisclosed.
The executive team includes John Fitzgerald, Thomas Macisaac and Thomas C Kenney.
The board of directors includes John Gardner and Jonathan Ebinger.

The company has raised an estimated total of $40.36 million via private unregistered security offerings.

Verve Mobile is registered under the name Verve Wireless.

Offering recap
Status: First close
Company: Verve Mobile
Industry: Other Technology
Amount offered: $5.74 million
Amount placed: $4.1 million
First sale: 08-12-2014
Data as of: 08-26-2014

For more information visit www.XDATA.co

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