Rise Companies, the holding company for the Fundrise online real estate crowdfinance platform, has broken a record for funds raised in a Regulation A Tier 2 offering, pulling in $14.6 million in 24 hours of initial selling.
The company’s initial offering filing on December 29 for a maximum raise of $10 million was approved by the Securities and Exchange Commission in just 30 days. The company began selling shares on February 1. To accelerate the process only investors who had previously invested in Fundrise deals or were early investors in the company were allowed to participate in the offer.
A Utah-based movie streaming company that offers “filtering” of content based on viewer selection has raised over $10 million from customers and fans after a group of Hollywood studios led including Disney, Fox and Warner Brothers sued to shut it down.
Six months into its $50 million Reg A offering, wireless broadband technology firm Teraphysics has fired its deal team of SDDCO Brokerage Advisors and FundAmerica as its sales and clearing brokers, escrow and transfer agent.
Courtesy of Morrison Foerster, an infographical overview of the 2016 PIPE market. via JDSupra