Oakland Ballers, a new minor league baseball team aiming to fill the void left by the departure of the Oakland A’s, is gearing up for a securities offering and is leveraging DealMaker’s services to potentially raise funding.
DealMaker is a tech provider that can enable an online securities offering for both accredited and non-accredited investors.
According to a report by CNBC, the “testing the waters” (TTW) initiative has received over $8 million in indications of interest from 3,500 potential investors. A DealMaker spokesperson says this is the largest number of potential investors they have ever seen.
A TTW strategy allows a company to gauge investor interest prior to selling securities. If there is little interest in a possible securities sale, why spend the money? It appears that the Ballers may move forward and raise money from the public—at least according to the initial support.
Paul Freedman and Bryan Carmel created the new team. Freedmen reportedly invested $1 million in the B’s and then loaned another $5 million. Additionally, outside investors have already provided $3 million in funding. As for the new investors in the crowdfunded offering, deal terms will not be revealed until the offering goes live.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!
