$7.73 million raised so far by Verdigris Technologies via private placement

XDATA – September 8th 2014

verdigris Verdigris Technologies disclosed selling 80% of its $9.62 million non-brokered equity offering to forty-nine investors. The sale started on August 19th according to the document filed at the SEC. Based on the offering’s structure, the company has until August 2015 to raise an extra $1.89 million. The company closed four previous unregistered private placements which raised an estimated $1.9 million.
The offering amount includes $3.5 million which is related to the conversion of debt and accrued interest into equity.

Verdigris Technologies develops and markets a cloud-based energy monitoring and management platform, called building.ai, which can identify, measure, and record data about any device within a building. Each electrical devices gives off a unique signature. Building.AI takes the aggregate circuit signature and uses machine learning algorithm to identify each appliance on the circuit in real time.

The company, headquartered in Moffett Field CA, is led by Mark Chung (CEO). Verdigris Technologies elected to keep its revenues undisclosed.
The board of directors includes Craig Norris and Jonathan Chu.

The company has raised an estimated total of $9.63 million via private unregistered security offerings.

Offering recap
Status: First close
Company: Verdigris Technologies
Industry: Energy Conservation
Amount offered: $9.62 million
Amount placed: $7.73 million
First sale: 08-19-2014
Data as of: 09-08-2014

For more information visit www.XDATA.co


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