Casper of bedding, Parachute Home files for first close after raising 93%

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Parachute Home‘s first close reached $5.45 million. The company’s $5.83 million non-brokered equity issue was 93% sold to fourteen investors. The first commitments were received a week ago. This is the first time Parachute Home is selling securities under a registration exemption.
$1.41 million worth of equity issued is related to the conversion of debt and accrued interest.
The company is a designer of premium quality bedding at an accessible price. Investors include Mesa Ventures, Upfront Ventures, and QueensBridge Venture Partners.
Ariel Kaye (CEO) leads the Venice CA based company which was registered in 2013. Parachute Home elected to keep its revenues undisclosed.
The board of directors includes Edward Kim.
Offering recap
Status: First close
Company: Parachute Home
Industry: Retailing
Amount offered: $5.83 million
Amount placed: $5.45 million
SEC filing: Source
First sale: 05-15-2015
Data as of: 05-22-2015

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