Fandor disclosed placing 90% of its $20.08 million non-brokered equity issuance. Based on the filing, four investors subscribed to the $18.08 million first close a couple of months ago. The issuance includes $16 million worth of equity related to the conversion of convertible bridge notes. Until this disclosure Fandor had raised an estimated $2.42 million in unregistered securities via one previous financing round.
Fandor develops and markets an on-demand streaming service showcasing a broad library of independent and international movies specially curated to make discovering new and classic favorites easy and accessible. The company’s member-based service allows audiences to watch unlimited movies wherever they are: on TVs, computers and mobile devices.
The company is headquartered in San Francisco CA. Fandor elected to keep its revenues undisclosed.
The executive team includes Dan Aronson and Ted Hope.
The board of directors includes Chris Kelly and Kevin Iwashina.
The company has raised an estimated total of $20.5 million via private unregistered security offerings. Fandor is registered under the name Our Film Festival.
Status: First close
Amount offered: $20.08 million
Amount placed: $18.08 million
First sale: 08-11-2014
Data as of: 10-10-2014