Plexxi closed its equity security offering after increasing its fundraising cap

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Change: offered +20% / raised +50% / placed 100%
XDATA – January 26th 2016
Plexxi closed its unregistered equity offering after increasing the placement’s size by 20% to $30.06 million. The offer closed after the company raised $10 million from two additional investors within four months. At closing, a total of seven investors had subscribed to Plexxi‘s offering. The company closed three unregistered private placements which raised an estimated $48.65 million.
Plexxi designs and markets next-generation networking products and solutions for agile data centers, scale-out applications and distributed cloud environments. The company’s products – Plexxi Control and the Plexxi Switch – and market solutions create an optimized network that dynamically helps applications perform better and operate at the speed of business. Investors include Lightspeed Venture Partners, Matrix Partners and North Bridge Venture Partners.
The company, headquartered in Nashua NH, is led by Richard Napolitano (CEO). Plexxi elected to keep its revenues undisclosed.
The executive team includes David Husak.
The board of directors includes Christopher Schaepe, Clark Masters, Jamie Goldstein and Timothy Barrows.

The company has raised an estimated total of $78.71 million via private unregistered security offerings.

Offering recap
Status: Completed
Company: Plexxi
Industry: Other Technology
Amount offered: $30.06 million
Amount placed: $30.06 million
SEC filing: Source
First sale: 08-28-2015
Data as of: 01-26-2016

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