StartEngine Crowdfunding, Inc. announced that it expects to receive $0.855 million in funding
December 04, 2019
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STARTENGINE CROWDFUNDING, INC. announced a private placement of minimum of 1,333 common shares and maximum of up to 114,000 common shares at a price of $7.5 per common share for minimum gross proceeds of $9,997.5 and maximum gross proceeds of $855,000 on December 5, 2019. The company has entered into subscription agreement. The company is raising funding through crowd-funding platform truCrowd. The crowd funding platform will charge 6.5% commission. The minimum investment accepted is $195. The company will accept oversubscriptions in the transaction. The company will issue securities pursuant to exemptions provided under Regulation C and Regulation D. The company has engaged Prime Trust, LLC as an escrow agent to hold funds tendered by investors. The company may raise funds in multiple tranches. The round is raised at a pre money valuation of $120,000,000. The transaction is expected to close on December 5, 2020.
StartEngine Crowdfunding, Inc. is focused on developing a startup financing model, which helps both accredited and non-accredited investors to invest in private companies on a public platform. The Company operates as a technology platform connecting issuers and investors, as a broker-dealer and as a Regulation Crowdfunding funding portal. Its offerings include Regulation A Offerings, Regulation Crowdfunding Offerings and Rule 506(c) Offerings. Its products and services include StartEngine OWNers Bonus, StartEngine Secure, StartEngine Premium, StartEngine Primary, StartEngine Secondary, StartEngine Assets and StartEngine Private. StartEngine Private provides accredited investors the opportunity to purchase membership interests in funds (SE Funds) which own shares of venture-capital backed, late-stage private companies. StartEngine Secure offers transfer agent services, which include tracking each investorâs account information and the amount of securities purchased and date purchased.