Securities crowdfunding platform SeedInvest has closed its largest offering since platform launch. NowRX closed this past Friday and according to the offering page, NowRX raised $29,268, 351. The offering was being listed under the Reg A+ securities exemption, a vehicle that allows issuers to raise up to $75 million.
As was reported previously, NowRX was offering preferred equity at a pre-money valuation of $275 million.
In reading the comments it appears that some money may have been left on the table as some investors encountered errors during processing on the last day. Perhaps last-minute demand swamped things a bit. It is mentioned that the processing queue indicated over $35 million – so the final tally may go even higher as everything gets sorted out.
Cary Breese, NowRX CEO, did state they expected a lot of traffic on the last day and predicted there may be some “hiccups” as SeedInvest worked to process the investment request, IE investor qualifications; payment processing etc. Strong demand is a good thing – a deadline can create a rush to get in.
NowRX is prescription on demand service and an emerging telehealth platform. Who want’s t queue up at the pharmacy when you can dial it in and your medicine shows up the same day? NowRX is currently operating in a few markets in California and Arizona but the company has ambitions to go national. Perhaps global?
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