Change: offered +49% / raised +26% / placed 85%
XDATA – September 19th 2014
Array Health re-opened and upped its equity financing to $13.38 million from $9 million after selling additional securities. One new investor bought $2.38 million worth of securities since the company last released data one month ago. This brings to $11.38 million the amount raised from the thirteen backers who subscribed to the offering. The private placement’s expected net proceeds will amount to $13.05 million, excluding $330,000 paid in brokerage fees by the company. The subscription is structured to close once the 15% left is fully subscribed or in about a year at the latest. The company closed five unregistered private placements which raised an estimated $4.08 million.
Array Health develops and markets a cloud-based and white-label application for health insurance companies to offer private insurance exchange.
The company, headquartered in Seattle WA, is led by Jonathan Rickert (President and CEO). Array Health elected to keep its revenues undisclosed.
The executive team includes Daniel Wolf.
The board of directors includes Brian Barefoot, Steven Nelson and William Pocklington.
The company has raised an estimated total of $15.45 million via private unregistered security offerings.
Array Health is registered under the name Array Health Solutions
Status: Intermediary close
Company: Array Health
Industry: Other Health Care
Amount offered: $13.38 million
Amount placed: $11.38 million
First sale: 08-05-2014
Data as of: 09-18-2014