Vaporizer developer Pax Labs closed its equity security offering after increasing its fundraising cap

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Change: offered +87% / raised +618% / placed 100%
Pax Labs closed its unregistered equity offering after increasing the placement’s size by 87% to $46.69 million. The offer closed after the company raised $40.19 million from fifty additional investors within one month. At closing, a total of fifty-four investors had subscribed to Pax Labs‘ offering. Up to now Pax Labs had raised an estimated $3.33 million in unregistered securities via one financing round.
Pax Labs markets and develops stylish loose leaf vaporizers and related accessories.
The company, headquartered in San Francisco CA, is led by James Monsees (CEO). Pax Labs elected to keep its revenues undisclosed.
The executive team includes Adam Bowen.
The board of directors includes Harold Handelsman, Nicholas Pritzker and Riaz Valani.

The company has raised an estimated total of $50.02 million via private unregistered security offerings.

Offering recap
Status: Completed
Company: Pax Labs
Industry: Other
Amount offered: $46.69 million
Amount placed: $46.69 million
SEC filing: Source
First sale: 03-24-2015
Data as of: 06-04-2015

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