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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
Similar transactions 2015 Map: Software Category
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2017-04-17 First close initiated by Modern Round Entertainment after raising 2% of its $5 million target
2017-04-10 Torchlite Technologies closed its debt security offering after increasing its fundraising cap
Change: offered +17% / raised +100% / placed 100%
2017-01-24 Powerhouse Dynamics lowers its equity financing target by 4%
Change: offered -4% / raised +322% / placed 77%
2017-01-06 Zagster unveils $10 million unregistered mezzanine placement
Largest Transactions by Amount Raised : ITSM IT Service Management, Asset Management Products
 Entity NameOffer Date $ SoughtDelta $ Sought$ RaisedSecurity OfferedIndustryFiling Type/
SEC Source
 Rivers 2012 Holdings II2015-07-17200,000,000200,000,000200,000,000DebtOtheroriginal
 MTM Technologies2015-06-12185,048,285185,048,285185,048,285EquityOther Technologyoriginal
 Accela2015-02-13183,500,000183,500,000183,500,000EquityOther Technologyoriginal
 SimpliVityā€ˇ2015-03-04175,000,007175,000,007175,000,007EquityOther Technologyoriginal
 Victory Capital Management2014-10-31164,897,972164,897,972164,897,972EquityOtheroriginal
All dollar amounts are derived from filings lodged with the SEC by the company under current and previous names.
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