Change: offered +0% / raised +1,420% / placed 38%
XDATA – August 29th 2014
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.
Status: Intermediary close
Industry: Other Energy
Amount offered: $20 million
Amount placed: $7.6 million
First sale: 11-25-2013
Data as of: 08-29-2014