$21.86 million raised so far by Rheonix via private placement


XDATA – October 9th 2015
Rheonix disclosed selling 60% of its $36.5 million non-brokered equity offering to twenty-four investors. The sale started a little over a week ago according to the document filed at the SEC. $14.64 million in additional funding can be raised before September 2016 based on the placement’s structure. The company closed four previous unregistered private placements which raised an estimated $30.52 million.
Rheonix commercializes the Encompass Optimum platform, a highly customizable technology offering versatility and affordability for use in research laboratories. The platform performs fully automated, complex molecular assays in an easy-to-use and economical format on the company’s CARD cartridge. The company is backed by Cayuga Venture Fund, Gefinor Ventures and Rand Capital.
The company is headquartered in Ithaca NY. Rheonix elected to keep its revenues undisclosed.
The executive team includes Anthony Eisenhut, Christopher Smith, Gregory Galvin and John Brenner.

The company has raised an estimated total of $52.39 million via private unregistered security offerings.

Offering recap
Status: First close
Company: Rheonix
Industry: Other Technology
Amount offered: $36.5 million
Amount placed: $21.86 million
SEC filing: Source
First sale: 09-29-2015
Data as of: 10-09-2015

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