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Intellihot Green Technologies files for first close after selling 59%
XDATA - February 7th 2017
A first close of $2.35 million was initiated by Intellihot Green Technologies on its $4 million equity offering. So far twenty-three investors committed to the non-brokered placement which started last Wednesday. $1.65 million in additional funding can be raised before February 2018 based on the placement's structure. A total of five unregistered securities offerings closed by the company raised an estimated $14.58 million.
Intellihot Green Technologies designs, markets and develops a tankless water heater which delivers instant, endless hot water for home or business applications. The company's product was engineered to be a more efficient, intelligent water heating and delivery system.
Intellihot Green Technologies, registered in 2017, is headquartered in Galesburg IL. It is led by Sridhar Deivasigamani (President). Revenues were not disclosed.
The executive team includes Sivaprasad Akasam.
The board of directors includes Praveen Sahay and Stephen Einhorn.

The company has raised an estimated total of $16.93 million via private unregistered security offerings.
Offering recap
Status: First close
Company: Intellihot Green Technologies
Industry: Manufacturing
Amount offered: $4 million
Amount placed: $2.35 million
SEC filing: Source
First sale: 02-01-2017
Data as of: 02-07-2017
Similar transactions 2015 Map: Engineering Category
2017-04-05 Heatworks Technologies reports $1.43 million raised at first close
2015-09-16 Subscription launched on September 1st for Bollente International's $1 million financing round
2015-01-13 $44.22 million raised so far by Phononic Devices via private placement
2014-03-06 Hartland Controls Holding reports the successful completion of its equity issuance
2014-02-25 Barcol-Air disclosed issuing $2 million worth of equity
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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