Smart glass manufacturer Kinestral Technologies reports first close at $29.57 million on its mezzanine offering


For more information and other transactions visit www.XDATA.co
XDATA – October 30th 2015
Late filer Kinestral Technologies placed 89% of its non-brokered mezzanine financing with eight backers. The company launched the offering to raise $33.07 million, so far investors started to subscribe to $29.57 million last February. Based on the offering’s structure, the company has until February 2016 to raise an extra $3.5 million. The company closed three previous unregistered private placements which raised an estimated $27.09 million.
The company is a developer of energy efficient glass for commercial, residential, and automotive application. Investors include Ares Capital Corp.
The company is headquartered in South San Francisco CA. Kinestral Technologies kept its revenues undisclosed.
The executive team includes Geoffrey Richardson.
The board of directors includes Bruce Sohn, Dipender Saluja, Sam Bergh, Sam Colella, Scott Rocklage and Suk-Bae Cha.

The company has raised an estimated total of $56.66 million via private unregistered security offerings.

Offering recap
Status: First close
Company: Kinestral Technologies
Industry: Other
Amount offered: $33.07 million
Amount placed: $29.57 million
SEC filing: Source
First sale: 02-05-2015
Data as of: 10-30-2015

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