On-demand fashion brand AYR unveils details on its $6.23 million unregistered offering

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XDATA – June 24th 2016
After twenty financial backers subscribed to 88% of its equity financing round, AYR disclosed initiating a first close after raising $5.5 million. The subscription to the $6.23 million non-brokered private placement started a week ago according to information filed with the SEC. Based on the offering’s structure, the company has until June 2017 to raise an extra $735,000. The company doesn’t appear to have previously sold securities under a registration exemption with the SEC.
The company is an on-demand women’s apparel brand that makes high-quality pieces designed for everyday life. The company spun-out of Bonobos. Investors include Leandra Medine, Scott Morrison, Hayley Barna (First Round Capital), and Andy Dunn (Bonobos).
AYR, registered in 2016, is headquartered in New York NY. It is led by Margaret Winter (CEO). Revenues were not disclosed.
The executive team includes Alexander Reich, Jacqueline Cameron and Max Bonbrest.
The board of directors includes Andrew Dunn, Jack Schwefel and Sanderson Cass.
Offering recap
Status: First close
Company: AYR
Industry: Retailing
Amount offered: $6.23 million
Amount placed: $5.5 million
SEC filing: Source
First sale: 06-17-2016
Data as of: 06-24-2016

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