Change: offered +40% / raised +180% / placed 100%
XDATA – September 25th 2014
Saisei Networks closed its unregistered equity offering after increasing the placement’s size by 40% to $7 million. According to information released by the company almost a year ago, one investor bought $2.5 million worth of securities on November 26th 2013. At close, eight subscribers had committed to acquire $7 million worth of securities. The offering’s expected net proceeds amount to $6.6 million, excluding $400,000 earmarked for the payment of officers’ salaries. Up to now Saisei Networks had raised an estimated $600,000 in unregistered securities via one financing round.
Saisei Networks develops and develops real-time software-based network performance enforcement (NPE) solutions. It allows enterprises and service providers to use their full network bandwidth knowing that unexpected traffic surges are automatically accommodated and all user traffic will get through.
William G Beckett (CEO) leads the Sunnyvale CA based company which was registered in 2013. Saisei Networks elected to keep its revenues undisclosed.
The executive team includes Doug Bryan and John Harper.
The board of directors includes James Mongiello and Larry Kestelman.
The company has raised an estimated total of $7.6 million via private unregistered security offerings.
Company: Saisei Networks
Industry: Other Technology
Amount offered: $7 million
Amount placed: $7 million
First sale: 11-26-2013
Data as of: 09-24-2014