Category: Debt

BLiNQ Networks disclosed information on its $3.5 million debt issuance


XDATA – October 7th 2015
BLiNQ Networks reported selling 78% of its debt issuance via a subscription which launched on September 22nd. According to the information disclosed, seven subscribers ponied up $2.72 million out of the $3.5 million the company expected to raise. Based on the offering’s structure, the company has until September 2016 to raise an extra $779,000. The company closed four previous unregistered private placements which raised an estimated $27.83 million.
BLiNQ Networks markets and develops an end-to-end network solution which enables operators to design, predict, manage, optimize, and adapt small cell backhaul networks. Investors include New Venture Partners, Summerhill Venture Partners, BDC Venture Capital, Kensington Global Private Equity Fund as well as Win Fund.
The company, headquartered in Ottawa Canada, is led by Carlton Miller (President and CEO).
The executive team includes Ross Morgan.
The board of directors includes Andrew Garman, James Grimes, John Haydon, Joseph Catalfamo, Nazmin Alani and Ralph Faison.

The company has raised an estimated total of $30.55 million via private unregistered security offerings.

Offering recap
Status: First close
Company: BLiNQ Networks
Industry: Telecommunications
Amount offered: $3.5 million
Amount placed: $2.72 million
SEC filing: Source
First sale: 09-22-2015
Data as of: 10-06-2015

 

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MyNeighbor disclosed information on its $500,000 debt issuance


 share2give MyNeighbor reported selling 33% of its debt issuance via a subscription which launched on October 15th. According to the information disclosed, seven subscribers ponied up $165,000 out of the $500,000 the company expected to raise. The offering will remain open until October 2015 while an additional $335,000 worth of securities is sold to investors. The company hasn’t previously offered unregistered securities.

MyNeighbor markets and develops a social impact local collaborative consumption and sharing platform. The application (app) allows users to source goods and services from neighbors. For those charging a fee the app enables them to pledge some or all of their earnings to local non-profits.

MyNeighbor, registered in 2014, is headquartered in Seattle WA. It is led by Brendan Benzing (CEO and President). Revenues remained undisclosed.

MyNeighbor is registered under the name Share2give

Offering recap
Status: First close
Company: MyNeighbor
Industry: Other Technology
Amount offered: $500,000
Amount placed: $165,000
First sale: 10-15-2014
Data as of: 10-29-2014

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$10 million financing final close reported by Transphorm


XDATA – October 6th 2014

transphormA $10 million unregistered debt financing by Transphorm successfully drew to a close. The non-brokered investment round was placed with one investor on a few days ago. A total of seven unregistered securities offerings closed by the company raised an estimated $170.23 million.

Transphorm designs, develops and markets cost-competitive and easy-to-embed power conversion modules that reduce costly energy loss by up to 90 percent, and simplify the design and manufacturing of motor drives, power supplies and inverters for solar panels and electric vehicles.

The company is headquartered in Goleta CA. Transphorm kept its revenues undisclosed.
The executive team includes Fumihide Esaka, Primit Parikh and Umesh Mishra.
The board of directors includes Andrew Wheeler, Mark Allen, Mark Pinho, Naoko Ichikawa, Randy Komisar, Richard Redelfs and Toshinobu Mimura.

The company has raised an estimated total of $180.23 million via private unregistered security offerings.

Offering recap
Status: Completed
Company: Transphorm
Industry: Other Technology
Amount offered: $10 million
Amount placed: $10 million
First sale: 10-02-2014
Data as of: 10-03-2014


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$200 million financing final close reported by Upper Peninsula Power Holding Co


XDATA – September 30th 2014

Upper Peninsula Power Holding Upper Peninsula Power Holding Co reported the successful completion of its $200 million unregistered debt financing. All the securities were subscribed by six investors. First commitments were received on September 16th. The private placement’s expected net proceeds amounts to $198.6 million which excludes $1.4 million paid in brokerage fees. No offering was previously initiated by the company under a registration exemption with the SEC.

The company is a regulated electric utility business providing distribution and power supply service to approximately 52,000 residential, commercial and industrial customers in the Upper Peninsula of Michigan. The company is backed by infrastructure equity investment fund BBIP which is sponsored by Balfour Beatty Plc.

The company, headquartered in New York NY, was registered this year. Revenues remained undisclosed.
The executive team includes Barbara A Siehr and Steve Manz.
The board of directors includes Jeffrey Roger Neil, Robert James Keough and Robert John Gregor.

Offering recap
Status: Completed
Company: Upper Peninsula Power Holding Co
Industry: Electric Utilities
Amount offered: $200 million
Amount placed: $200 million
First sale: 09-16-2014
Data as of: 09-30-2014


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BackFlip Technologies disclosed information on its $500,000 debt issuance


XDATA – September 3rd 2014

backflip technologies BackFlip Technologies reported selling 64% of its debt issuance via a subscription which launched in July 2012. According to the information disclosed, seventeen subscribers ponied up $320,000 out of the $500,000 the company expected to raise. The offering, according to the information, is structured as indefinite and is to remain open until an additional $180,000 is raised. This is the first debt financing done by the company under a registration exemption.

BackFlip Technologies markets and develops a mobile application called iFlipd which allows users to rent e-books on a pay-as-you-go basis for $2 per book per week. The application is available for iOS enabled mobile devices.

The company was registered in 2013 and has its headquarters located in Lake Oswego OR. BackFlip Technologies kept its revenues undisclosed.
The executive team includes Dylan Anderson and Katherine Radziwon.
The board of directors includes Kevin Merritt.

Offering recap
Status: First close
Company: BackFlip Technologies
Industry: Other Technology
Amount offered: $500,000
Amount placed: $320,000
First sale: 07-13-2012
Data as of: 04-23-2014

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An additional $7.1 million subscribed for ZeoGas’ debt issuance


Change: offered +0% / raised +1,420% / placed 38%

XDATA – August 29th 2014

zeogas ZeoGas completed 38% of its planned $20 million debt financing. A total of twenty-nine additional backers invested $7.1 million in the company’s offering. The prior information, filed last December, stated one investor had committed $500,000. ZeoGas‘ offering has $12.4 million left up for subscription. The private placement, excluding $1.13 million to be paid toward officers’ salaries and $15 million to be paid in placement fees, should bring in expected net proceeds of $3.88 million once fully subscribed. The subscription will close either once the offering is sold in full or in the last couple of months, whichever one comes first. This is the first offering by ZeoGas done under a registration exemption.

The company is developing a portfolio of plants to convert natural gas to gasoline employing proven component technologies like ExxonMobil’s MTG and Air Liquide’s MegaMethanol technology.

Timothy D Belton (President) leads the Houston TX based company which was registered in 2012. Revenues were not reported.
The executive team includes Jeri Pharis Wechsler and Robert David Muse.

Offering recap
Status: Intermediary close
Company: ZeoGas
Industry: Other Energy
Amount offered: $20 million
Amount placed: $7.6 million
First sale: 11-25-2013
Data as of: 08-29-2014

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$965,000 unregistered debt financing and first close reported by Campus Job


XDATA – August 29th 2014

campus job Campus Job disclosed being in the market to raise $965,000 via debt issuance. Apparently 75% or $725,000 has already been subscribed by four investors. The non-brokered placement started a few days ago. Based on the offering’s structure, the company has until August 2015 to raise an extra $240,000. The debt offering’s estimated net proceeds will amount to $885,000 which excludes $80,000 to be paid toward officers’ salaries. The company hasn’t previously offered unregistered securities.

Campus Job markets and develops an online marketplace connecting college students with meaningful part-time jobs.

Campus Job, registered in 2014, is headquartered in New York NY. It is led by Elizabeth Wessel (CEO). Revenues remained undisclosed.
The executive team includes Joel Fliegelman.

Offering recap
Status: First close
Company: Campus Job
Industry: Other Technology
Amount offered: $965,000
Amount placed: $725,000
First sale: 08-26-2014
Data as of: 08-29-2014

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SenGenix revised its offering cap upward to $2.5 million and received $1.97 million in commitments


Change: offered +67% / raised +338% / placed 79%

sengenicsSenGenix upped its financing to $2.5 million from $1.5 million after receiving new commitments. An additional $1.52 million worth of securities was placed by the company with twelve investors since the company last released data almost a year ago. This brings to $1.97 million the amount raised from the fifteen backers who subscribed to the offering. The subscription is structured to close once the 21% left is fully subscribed or in three weeks at the latest. This is the first time securities are issued by SenGenix under a registration exemption.

SenGenix markets and develops point-of-care diagnostic tests (POCT) based on fluorescently responsive sensors (FRS) that will deliver fast, accurate, actionable patient data at a low cost. The product platform is centered around a protein-engineering technology developed at Duke University Medical Center. The company plans on rolling out a stand-alone Creatinine test, and a Basic Metabolic Panel (BMP) consisting of the eight most commonly ordered tests which are Glucose, BUN, Creatinine, Sodium, Potassium, Calcium, Chloride and Bicarbonate.

The company, headquartered in Durham NC, was registered in 2012. SenGenix kept its revenues undisclosed.
The executive team includes Richard S Surwit and Sandra Cummings.
The board of directors includes Homme Hellinga, Lawrence Cohen and Ralph Snyderman.

Offering recap
Status: Intermediary close
Company: SenGenix
Industry: Biotechnology
Amount offered: $2.5 million
Amount placed: $1.97 million
First sale: 08-02-2013
Data as of: 07-07-2014

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Wolfgang Man disclosed information on its $370,000 debt issuance


Wolfgang Man & BeastWolfgang Man/Beast reported selling 92% of its debt issuance via a subscription which launched almost two weeks ago. According to the information disclosed, six subscribers ponied up $340,000 out of the $370,000 the company expected to raise. The company hasn’t previously offered unregistered securities.

Wolfgang Man/Beast markets and designs leashes and collars for dogs as well as a distinctive collection of wallets, belts, t-shirts and hoodies for their owners. The company focuses on quality and durable products made locally using only the finest American leathers and textiles.

The company, headquartered in Salt Lake City UT, was registered this year. Revenues remained undisclosed.
The executive team includes Jeremiah Murray and Todd Finney.

Wolfgang Man/Beast is registered under the name Wolfgang Man & Beast.

Offering recap
Status: First close
Company: Wolfgang Man/Beast
Industry: Other
Amount offered: $370,000
Amount placed: $340,000
First sale: 05-28-2014
Data as of: 06-03-2014

iM5 reached the $325,000 mark raised via its debt financing


Change: offered +0% / raised +189% / placed 43%

im5iM5 disclosed having increased subscription by 189% on its $750,000 debt financing. An additional $213,000 worth of securities was placed by the company with six investors since the company last released data almost a year ago. This brings to $325,000 the amount raised from the eight backers who subscribed to the offering. The subscription will close either once the offering is sold in full or in the last couple of months, whichever one comes first. The company is issuing unregistered securities for the first time.

iM5 develops and markets a free social network organized around crowdsourcing ideas and engagement based on common interests. The platform is exclusively dedicated to foster users’ intent of taking real-life action, whether it’s finding upcoming events, achieving personal goals, or collaborating to create social change. The application is available for iOS and Android.

Thomas Klein (CEO) leads the Mt. Pleasant SC based company which was registered in 2012. iM5 kept its revenues undisclosed.
The board of directors includes Andre Refay.

Offering recap
Status: Intermediary close
Company: iM5
Industry: Other Technology
Amount offered: $750,000
Amount placed: $325,000
First sale: 08-19-2013
Data as of: 06-06-2014