San Diego Aviators disclosed in an SEC filing, launching a $900,000 brokered equity financing round. The placement is structured to close in April 2015 should the fundraising target not be reached. The company didn’t report selling securities thus far. The private placement’s expected net proceeds will amount to $860,000 excluding $40,000 paid in brokerage fees by the company. This is the first time the company is filling a security offering under a registration exemption with the SEC. The deal is brokered by Greenville SC-based SANDLAPPER Securities.
The San Diego Aviators is a tennis team competing in the Mylan World TeamTennis league. The league was originally created in the 1970s around a unique gender-equity team concept. Each team is comprised of two men, two women and a coach. Team matches consist of five sets, with one set each of men’s singles, women’s singles, men’s doubles, women’s doubles and mixed doubles.
The company was registered in 2013 and has its headquarters located in San Diego CA. Revenues on or below $1 million were reported by San Diego Aviators.
The executive team includes Russell Geyser.
Company: San Diego Aviators
Amount offered: $900,000
Data as of: 04-22-2014