Scout received two commitments for its $12 million financing round. Investors committed to buy 87% or $10.5 million worth of equity almost two weeks ago. Based on the offering’s structure, the company has until October 2015 to raise an extra $1.5 million. It appears to be the first time the company is filling a security offering under a registration exemption.
The company, headquartered in New York NY, is led by James C Heckman (CEO). Scout elected to keep its revenues undisclosed.
The executive team includes Ben Madden, Bill Sornsin, James Heckman, Mark Stieglitz and Steven Rindner.
The board of directors includes Paul M McNicol, Ross Levinsohn and Rostislav Zino Lukatsevich.
Scout is registered under the name North American Membership Group
Status: First close
Amount offered: $12 million
Amount placed: $10.5 million
First sale: 10-24-2014
Data as of: 11-05-2014