Scout reports $10.5 million raised at first close

north american membership group 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 is a digital media network focused primarily on male enthusiasts. It operates web, print and television properties in categories including NFL, college football, basketball, baseball, outdoor enthusiast sports such as hunting and fishing, as well as other enthusiast-based channels. The company is backed by the Pilot Group.

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

Offering recap
Status: First close
Company: Scout
Industry: Other
Amount offered: $12 million
Amount placed: $10.5 million
First sale: 10-24-2014
Data as of: 11-05-2014

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