Mack Weldon unveils details on its $6.55 million unregistered offering

mack weldonAfter twenty-one financial backers subscribed to 85% of its equity financing round, Mack Weldon disclosed initiating a first close after raising $5.55 million. The subscription to the $6.55 million non-brokered private placement started a few days ago according to information filed with the SEC. Based on the offering’s structure, the company has until October 2015 to raise an extra $1 million. It appears to be the first time the company is filling a security offering under a registration exemption.

The company is a designer of underwear for men engineered to promote comfort, mobility and performance. Products are made with classic and high tech material and also include t-shirts and socks.

The company, headquartered in New York NY, is led by Brian Berger (CEO). Mack Weldon elected to keep its revenues undisclosed.
The executive team includes Brian D Berger.

Offering recap
Status: First close
Company: Mack Weldon
Industry: Other
Amount offered: $6.55 million
Amount placed: $5.55 million
First sale: 10-30-2014
Data as of: 10-31-2014

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