Heatworks Technologies reported closing its $5 million private placement almost two weeks ago. All the unregistered equity securities issued were acquired by one investor. No offering was previously initiated by the company under a registration exemption with the SEC.
Heatworks Technologies designs and markets electric water heaters that leverage an innovative and patented technology that heats water unlike any other product on the market. By exciting the natural salts and minerals found in drinking water, the electric water heaters can boost the temperature of water instantly and on-demand.
Heatworks Technologies, registered in 2016, is headquartered in Sullivan's Island SC. It is led by Jeremiah M Callahan (CEO). Revenues were not disclosed. The board of directors includes Haskell Crocker and Thomas Fitzpatrick.
Offering recap Status: Completed Company: Heatworks Technologies Industry: Other Technology Amount offered: $5 million Amount placed: $5 million SEC filing: Source First sale: 05-23-2016 Data as of: 06-03-2016