Tagged: financing

Big Switch Networks’ $23.5 million offering lures eighteen backers


XDATA – June 26th 2017
So far eighteen investors participated to Big Switch Networks‘ $23.5 million non-brokered financing round. Financial backers bought, on June 9th, 88% of the offering or $20.71 million worth of equity. Based on the offering’s structure, the company has until June 2018 to raise an extra $2.79 million. The company closed three previous unregistered private placements which raised an estimated $79.66 million.
Big Switch Networks markets and develops hyperscale-inspired networking technologies. The company is taking three key hyperscale technologies — OEM/ODM bare metal and open Ethernet switch hardware, sophisticated SDN control software, and core-and-pod data center designs — and leveraging them in fit-for-purpose products designed for use in enterprises, cloud providers, and service providers. Investors include Morgenthaler Ventures, Silver Lake Waterman, Index Ventures, Khosla Ventures, Redpoint Ventures, Accton, CID Group and MSD Capital.
The company, headquartered in Santa Clara CA, is led by Douglas Murray (President). Big Switch Networks elected to keep its revenues undisclosed.
The executive team includes Kyle Forster.
The board of directors includes Bill Meehan, Bruce Armstrong, Dan Warmehoven, Gary Morgenthaler and Mike Volpi.

The company has raised an estimated total of $100.38 million via private unregistered security offerings.

Offering recap
Status: First close
Company: Big Switch Networks
Industry: Other Technology
Amount offered: $23.5 million
Amount placed: $20.71 million
SEC filing: Source
First sale: 06-09-2017
Data as of: 06-26-2017
Similar transactions
2016-08 Tempered Networks files for first close after raising 95%
2016-06 $40 million worth of equity securities were sold by EIP Investment Holdings
2016-05 Protocol Labs files $3.73 million final close
2016-05 Trusted Knight is in the market with a $3.8 million financing round
2016-05 $12.25 million financing completed by Kollective Technology
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Choice Pet is in the market with a $3.5 million financing round


XDATA – June 21st 2017
Choice Pet is expecting to raise $3.5 million as part of a non-brokered equity issuance. The company structured the offering to remain open until June 2018 if not fully subscribed. No securities have been subscribed by investors yet. Until this disclosure Choice Pet had raised an estimated $1.5 million in unregistered securities via one previous financing round.
Choice Pet develops a chain of pet stores as well as a website specializing in natural, organic and holistic foods for dogs, cats, companion birds, small animals, fish and reptiles.
The company is headquartered in Stamford CT. No revenues were reported by the company.
The executive team includes E Bulkeley Griswold, Jeffrey I Brodlieb, Stephen T Rossetter, Steven G Chrust and Stewart Shanley.The company reported in the past issuing an estimated $3.08 million worth of securities in conjunction with an M&A transaction.

Choice Pet is registered under the name Choice Pet Venture.

Offering recap
Status: Launched
Company: Choice Pet
Industry: Other
Amount offered: $3.5 million
SEC filing: Source
Data as of: 06-21-2017
Similar transactions
2017-02 $2 million financing completed by RiceBran Technologies (NASDAQ:RBIT)
2015-10 Primo Sales placed its mezzanine financing in full
2015-09 Late filer Protein for Pets files for first close after selling 82%
2015-04 Hannah’s files for first close after selling 69%
2015-02 Mud Bay files details on its $81,000 financing

$10.1 million financing final close reported by late filer LoadSmart


XDATA – June 21st 2017
Late filer LoadSmart reported the successful completion of its $10.1 million unregistered debt financing. All the securities were subscribed by three investors. First commitments were received a year ago. The offering’s structure suggests the placement was scheduled to close before June 2017. A prior unregistered securities offering which raised an estimated $3 million was completed by the company.
LoadSmart markets and develops a trucking logistics and freight brokerage platform.
The company, headquartered in New York NY, is led by Ricardo Salgado (CEO). LoadSmart kept its revenues undisclosed.

The company has raised an estimated total of $13.1 million via private unregistered security offerings.

Offering recap
Status: Completed
Company: LoadSmart
Industry: Other Technology
Amount offered: $10.1 million
Amount placed: $10.1 million
SEC filing: Source
First sale: 06-21-2016
Data as of: 06-21-2017
Similar transactions
2017-06 Vantage Freight placed its mezzanine financing in full
2017-02 Shiplify reports the successful completion of its equity issuance
2016-07 AuptiX files for first close after raising 91%
2016-05 BridgeHaul files offering’s details after placing 60% with investors
2016-02 Sontra launched a $2.3 million offering and placed 49%

Weekly report – VC and operating companies captured 3.2% of the overall pool of money raised via Regulation D


XDATA_2014_LOGO_2__VECTORFree VC Weekly Report

During the seven day period, the Regulation D market contracted at a slightly faster pace both in terms of funds raised by issuers and number of transactions. The amount of money raised was propped by a small number of companies that raised unusually big financing rounds. Additionally, the activity of the VC & SMB market contracted with a fundraising and activity growth rates that underperformed the overall Regulation D market.

VC and operating companies captured 3.2% of the overall pool of money raised via Regulation D, however they accounted for 35% of Form D filers during the past seven days. Issuers collected 68 cents for each dollar offered, representing a decline of 14% for the period. Following a more stable trend, compliance scores on average reached 94.

45 issuers, or 31%, checked ” Other “ as industry when filing with the SEC. XDATA through its curating process narrowed it down to 26 or 6.9%.

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

And this one, Heatworks disclosed issuing $5 million worth of equity

If you use Mattermark or CrunchBase here’s what you missed! lol

SkyWard IO lands $2.38 million mezzanine round

Moog issues $31.6 million worth of equity

XDATA releases free weekly report – $2.64 billion raised by VC & SMB last week


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“The activity of the VC & SMB market expanded, both fundraising and the activity grew at a faster pace than the overall Reg D market.

VC and operating companies captured 19% of the overall pool of money raised via Regulation D, yet they represented 46% of Form D filers during the seven days ending on May 27. Issuers fetched 97 cents for each dollar offered, representing an improvement of 52% for the period. Following a more stable trend, compliance scores on average reached 94.

During the week, the number of fundraising transactions increased by 8.7% to 225. Companies were much more bullish than before and offered the market $2.73 billion worth of securities, an improvement of 77%. Mirroring a similar path, investors acquired much more, subscriptions grew 282% to $2.64 billion.”