Nano Terra launched an $8 million offering and placed 80%

nano terraAccording to a document filed by Nano Terra with the SEC, the company launched a $8 million non-brokered equity offering. So far Nano Terra sold 80% or $6.39 million worth of new unregistered securities to nine backers. The subscription started on October 8th. Based on the offering’s structure, the company has until October 2015 to raise an extra $1.61 million. Two previous unregistered financing rounds raised an estimated $25.92 million.

The company is an innovation and product development organization focusing on nano- and micro-technology for thin electronic displays, fuel cells, sensors and solar power devices. Services include design, development, prototyping, testing, scale-up, and launch. Financial backers include Harris & Harris Group.

The company, headquartered in Cambridge MA, is led by Brian Mayers (President). Nano Terra elected to keep its revenues undisclosed.
The executive team includes Peter Howe.
The board of directors includes George Whitesides, Herbert Winokur and Myer Berlow.

The company has raised an estimated total of $32.3 million via private unregistered security offerings.

Offering recap
Status: First close
Company: Nano Terra
Industry: Biotechnology
Amount offered: $8 million
Amount placed: $6.39 million
First sale: 10-08-2014
Data as of: 10-22-2014

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