BLiNQ Networks disclosed information on its $3.5 million debt issuance


XDATA – October 7th 2015
BLiNQ Networks reported selling 78% of its debt issuance via a subscription which launched on September 22nd. According to the information disclosed, seven subscribers ponied up $2.72 million out of the $3.5 million the company expected to raise. Based on the offering’s structure, the company has until September 2016 to raise an extra $779,000. The company closed four previous unregistered private placements which raised an estimated $27.83 million.
BLiNQ Networks markets and develops an end-to-end network solution which enables operators to design, predict, manage, optimize, and adapt small cell backhaul networks. Investors include New Venture Partners, Summerhill Venture Partners, BDC Venture Capital, Kensington Global Private Equity Fund as well as Win Fund.
The company, headquartered in Ottawa Canada, is led by Carlton Miller (President and CEO).
The executive team includes Ross Morgan.
The board of directors includes Andrew Garman, James Grimes, John Haydon, Joseph Catalfamo, Nazmin Alani and Ralph Faison.

The company has raised an estimated total of $30.55 million via private unregistered security offerings.

Offering recap
Status: First close
Company: BLiNQ Networks
Industry: Telecommunications
Amount offered: $3.5 million
Amount placed: $2.72 million
SEC filing: Source
First sale: 09-22-2015
Data as of: 10-06-2015

 

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