SkyWard IO filed for first close after raising 89% of its financing round
XDATA - June 3rd 2016
$2.38 million worth of mezzanine securities started to be placed by SkyWard IO a little over a week ago. Based on the information disclosed, a total of sixteen investors bought 89% of the $2.68 million security offering. Based on the offering's structure, the company has until May 2017 to raise an extra $297,000. The company closed three previous unregistered private placements which raised an estimated $5.67 million.
SkyWard IO markets and develops a line of software for unmanned aerial vehicle operators. Software include a digital logbook to store required records such as license, insurance, flight path etc...and easily generate reports. Operation management tools to ensure compliant operation–from procedures, checklists and maps to flight dispatch, tracking, and logging. And fleet and personnel management.
The company, headquartered in Portland OR, is led by Jonathan Evans (President and CEO). SkyWard IO kept its revenues undisclosed. The executive team includes Marcos Osorno and Mariah Scott. The board of directors includes Erik Benson.
The company has raised an estimated total of $8.05 million via private unregistered security offerings.
Offering recap Status: First close Company: SkyWard IO Industry: Other Technology Amount offered: $2.68 million Amount placed: $2.38 million SEC filing: Source First sale: 05-25-2016 Data as of: 06-03-2016