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$44.22 million raised so far by Phononic Devices via private placement
XDATA - January 13th 2015
Phononic Devices disclosed selling 88% of its $50 million brokered equity offering to thirty-one investors. The sale started one month ago according to the document filed at the SEC. Based on the offering's structure, the company has until December 2015 to raise an extra $5.78 million. The private placement's expected net proceeds will amount to $49.77 million excluding $230,000 paid in brokerage fees by the company. The company closed three previous unregistered private placements which raised an estimated $41.48 million.
Phononic Devices designs, markets and manufactures high efficiency and environmentally friendly solid-state heat pumps and fully integrated systems that displace compressors for residential and commercial refrigeration, window mounted air conditioning and heating. The company is backed by Eastwood Capital, the Wellcome Trust, WLR China Energy Infrastructure Fund, Tsing Capital, Venrock, Oak Investment Partners and Rex Health Ventures.
The company is headquartered in Durham NC. Phononic Devices elected to keep its revenues undisclosed.
The executive team includes Anthony Atti and Katherine Henry.
The board of directors includes Anthony Fadell, Brian Hinman, Bruce Sohn, Steve Goldby, William Morton and Yan Zhu.

The company has raised an estimated total of $85.7 million via private unregistered security offerings.
Offering recap
Status: First close
Company: Phononic Devices
Industry: Other Technology
Amount offered: $50 million
Amount placed: $44.22 million
SEC filing: Source
First sale: 12-12-2014
Data as of: 01-13-2015
Similar transactions 2015 Map: Engineering Category
2017-02-07 Intellihot Green Technologies files for first close after selling 59%
2016-08-03 $200,000 unregistered debt financing and first close reported by Agrilab Technologies
2016-07-11 7AC Technologies reports $6.25 million raised at first close
2016-06-03 Heatworks Technologies disclosed issuing $5 million worth of equity
2016-01-14 Tecogen (NASDAQ:TGEN) raised $3 million at final close
Largest Transactions by Amount Raised : HVAC Products
 Entity NameOffer Date $ SoughtDelta $ Sought$ RaisedSecurity OfferedIndustryFiling Type/
SEC Source
 LSB Industries2015-11-0950,000,00050,000,00050,000,000DebtManufacturingoriginal
 Phononic Devices2014-12-1249,999,99949,999,99944,216,992EquityOther Technologyoriginal
 ASPEQ Equity Investment2015-06-2938,300,00038,300,00038,300,000EquityOtheroriginal
 Hartland Controls Holding2014-02-1431,123,03431,123,03431,123,034EquityOtheroriginal
 Phononic Devices2014-03-2625,904,99117,404,99217,404,992EquityOther Technologyamendment
All dollar amounts are derived from filings lodged with the SEC by the company under current and previous names.
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