Late filer NAUTO reports first close at $2.84 million on its mezzanine offering

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XDATA – October 29th 2015
Late filer NAUTO placed 81% of its non-brokered mezzanine financing with seven backers. The company launched the offering to raise $3.5 million, so far investors started to subscribe to $2.84 million last March. Based on the offering’s structure, the company has until March 2016 to raise an extra $656,000. Unregistered securities don’t appear to have been previously sold by the company.
NAUTO commercializes a vision-enhanced connected car system featuring an in-vehicle device, network and application. Users can easily upgrade any car to get network and safety features previously only available in high-end luxury cars. Its device collects and uploads visual data to a smart and secure cloud, which then produces valuable insights to help drivers operate vehicles more efficiently, effectively and safely. Investors include Ahmad Chatila, Mark Platshon, John Cheong, and Doug Mandell.
NAUTO, registered in 2015, is headquartered in Palo Alto CA. It is led by Heck Stefan (CEO). Revenues remained undisclosed.
Offering recap
Status: First close
Company: NAUTO
Industry: Computers
Amount offered: $3.5 million
Amount placed: $2.84 million
SEC filing: Source
First sale: 03-31-2015
Data as of: 10-29-2015

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