According to a document filed by Xambala with the SEC, the company launched a $24.24 million non-brokered equity offering. So far Xambala sold 81% or $19.6 million worth of new unregistered securities to ten backers. The subscription started a couple of months ago. Based on the offering’s structure, the company has until August 2015 to raise an extra $4.64 million. A total of eight unregistered securities offerings closed by the company raised an estimated $56.19 million.
The company is headquartered in Sunnyvale CA. Xambala elected to keep its revenues undisclosed.
The executive team includes Daniel Trepanier.
In a concurrent filing, Xambala disclosed having raised $5 million in a fully subscribed offering.
The company has raised an estimated total of $80.79 million via private unregistered security offerings.
Status: First close
Industry: Other Technology
Amount offered: $24.24 million
Amount placed: $19.6 million
First sale: 08-28-2014
Data as of: 10-21-2014