POSaBIT disclosed its equity placement was 90% completed

Change: offered +0% / raised +38% / placed 90%
XDATA – June 13th 2017
According to the information disclosed by POSaBIT, subscription to its $1.5 million equity issuance increased by 38%. An additional $375,000 worth of securities was placed by the company with two investors since the company last released data almost six months ago. This brings to $1.35 million the amount raised from the fourteen backers who subscribed to the offering. The subscription is structured to close once the 10% left is fully subscribed or in six months at the latest. This is the first offering initiated by the company under regulation D of the Securities Act of 1933.
POSaBIT markets and develops a point-of-sale software solution that makes it simple for consumers to acquire cryptocurrency (bitcoin) at the point of sale and then use this currency to make purchases at the store or any place that accepts bitcoin.
The company, headquartered in Seattle WA, was registered in 2015. POSaBIT elected to keep its revenues undisclosed.
The executive team includes G Scott Greenburg, Jon Baugher and Ryan Hamlin.
The board of directors includes Jeff Dossett and Mike Markette.
Offering recap
Status: Intermediary close
Company: POSaBIT
Industry: Other Technology
Amount offered: $1.5 million
Amount placed: $1.35 million
SEC filing: Source
First sale: 12-21-2016
Data as of: 06-13-2017
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