In a document filed with the SEC, Indoor Harvest reported still being in the market with its $500,000 equity offering which is 43% subscribed as of the filing date. Prior investors ponied up an additional $30,000. They had previously subscribed to $190,000 in securities according to another filing disclosed last Thursday. So far, twenty-six backers committed $220,000 to Indoor Harvest’s offering. Based on the offering’s structure the subscription is scheduled to close in six months at the latest. The company closed one unregistered private placement which raised an estimated $50,000.
The company is an equipment designer, developer, marketer and direct-seller of commercial grade aeroponic fixtures and supporting systems for use in urban controlled environment agriculture (CEA) and building integrated agriculture (BIA). It offers individual original equipment manufacturer (OEM) fixtures and value added components that can be combined in a variety of ways allowing full customability of installation. Indoor Harvest is focusing on the underserved middle market between hobby and large scale operations.
The company, headquartered in Houston TX, is led by Chad Sykes (CEO). Revenues were not reported.
Status: Intermediary close
Company: Indoor Harvest
Amount offered: $500,000
Amount placed: $220,000
Change: offered +0% / raised +13% / placed 43%