Cherwell Software filed $5.01 million in additional commitments Change: offered +158% / raised +158% / placed 100%
XDATA - May 20th 2016
In a document filed with the SEC, Cherwell Software reported placing an additional $5.01 million worth of equity securities. The company had previously disclosed raising $3.17 million. So far a total of eighteen investors acquired $8.18 million worth of securities. The offering is structured as on-going and indefinite. It was filed under security registration exemption rule 506 for which there is no fundraising cap. This is the first offering of unregistered securities under regulation D reported by Cherwell Software.
The company is the developer of Cherwell Service Management, a business technology and IT service management (ITSM) platform and Express Software Manager an IT asset management software.
The company is headquartered in Colorado Springs CO. Cherwell Software elected to keep its revenues undisclosed. The executive team includes Craig Harper, Timothy G Pfeifer and Vance Brown. The board of directors includes Arlen Feldman, Richard Wells, Richard A Mueller and Ron Muns.
Offering recap Status: On-going Company: Cherwell Software Industry: Other Technology Amount offered: $8.18 million Amount placed: $8.18 million SEC filing: Source First sale: 02-05-2015 Data as of: 05-20-2016