Tagged: logistics

$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%

Military and aerospace sustainment services provider raises $750,000 in debt


A first close of $750,000 was initiated by ISO Group on its fundraising effort started last month. 77% of the $971,000 non-brokered debt offering was placed with six investors. The offering will remain open for a year during which the company may raise an additional $221,000. The company previously closed six private placements which raised an estimated $18 million.

The company provides sustainment support, repair and replacement parts, and logistics services to the US Department of Defense, prime contractors, and international customers. ISO Group leverages its proprietary database of over 120 million parts to provide support to a wide range of military platform variants, from those recently fielded to those legacy platforms often found outside of the US.

The company, headquartered in Palm Bay FL, is led by Kevin T. Lowdermilk (CEO). ISO Group Inc elected not to disclose its revenues. The board of directors includes Randall E. Poliner, Donald B. Hebb, Alex Techoueyres, Mark Newman and Dov Zakheim.

Offering recap:
Status: First close
Company: ISO Group Inc
Industry: Other Technology
Amount offered: $971,000
Amount placed: $750,000

Venn Corp announces first close of $400,000 on its $600,000 equity offering


Venn Corp. successfully placed 67% of its non-brokered equity placement with two investors raising a total of $400,000. This is the first known US private placement initiated by the company.

Venn Corp. is a third party project logistics provider for the construction industry. The company has developed proprietary transport, project and inventory management systems and a geographically diverse warehouse network to ensure materials and FF&E (furniture, fixtures and equipment) are delivered at the job site when required.

The company, located in McLean VA, was founded in June 2012 following its spin-off from Traffic Tech, Inc.  Michael Scotch leads the company as CEO.