Republic: Sapient Easily Hits Reg CF Max Raise of $1.07 Million without any Reg D Participation

Eco-focused company Sapient has quickly closed their crowdfunding round on Republic. According to the campaign page, Sapient hit the Reg CF ceiling raising $1.07 million from 1917 retail investors.  As we understand it, Sapient raised the money without any Reg D participation.

For issuers using Reg CF, investors are required to adhere to rigid investment caps. This holds true for both non-accredited and accredited investors. Everyone knows it is regulatory folly to cap accredited investors so the workaround is to run a Reg D alongside a Reg CF offering thus making it simple to accept larger investments and work around the regulatory nonsense. Sapient was able to raise the money without going down this path.

So who is Sapient?

Sapient is a “plug load management system” that can operate a centralized, web-based application designed to save users tons of money with their energy expense. Sapient informs us that 36% of all energy consumed by buildings takes place at electrical outlets – even if the device or appliance is not being used.

Sapient shares some strong numbers in the crowdfunding pitch reporting it has attracted about 8 million square feet of deployments since it launched last September.

The company’s pipeline is said to now include 48,000 buildings for its hardware as a service model.

So if you were able to invest in the Reg CF round you were purchasing a Crowd SAFE with a valuation cap of $9 million.


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