Change: offered +0% / raised +275% / placed 47%
XDATA – October 3rd 2014
Pono Music completed 47% of its planned $8 million equity financing. An additional $2.75 million worth of securities was placed by the company with eighteen investors since the company last released data a week ago. This brings to $3.75 million the amount raised from the twenty backers who subscribed to the offering. The subscription will close either once the offering is sold in full or in about a year, whichever one comes first. The company closed three unregistered private placements which raised an estimated $4.51 million.
The company is the maker of the PonoMusic player, a device that brings back the sound of original masters and the intention of the artists digitally. Neil Young is the company’s founder and the vision, force, energy, and voice of PonoMusic.
The company, headquartered in San Francisco CA, is led by Rick Cohen (President). Pono Music elected to keep its revenues undisclosed.
The executive team includes Neil Young.
The board of directors includes Elliot Roberts, Gigi Brisson, John Tyson and Pegi Young.
The company has raised an estimated total of $8.26 million via private unregistered security offerings.
Pono Music is registered under the name Ivanhoe (DE)
Status: Intermediary close
Company: Pono Music
Industry: Other Technology
Amount offered: $8 million
Amount placed: $3.75 million
First sale: 09-11-2014
Data as of: 10-03-2014