In the SEC Form C filing, the company disclosed that, as of Sept. Regardless of the cost, the company has shown few signs of progress in the months since its April 2018 announcement. He did not provide a rationale for that cost estimate. 10 by the Haas School of Business at the University of California Berkeley, where Bunger is an alumnus. "I knew that space travel could be done far, far more cheaply - $65 million to build the whole thing," Frank Bunger, chief executive and founder of Orion Span, said in an interview published Jan. The company claimed at the time that the station could be built for "tens of millions" of dollars, a figure far less than many satellites. When the company announced its plans in April, it said it sought to place a single-module station called Aurora into orbit by 2022, capable of hosting six people at a time. The company has yet to file documentation with the SEC revealing the sale of any securities made under Regulation D. It's not clear that Orion Span has raised enough money through the Regulation D offerings to meet that $1 million threshold. Orion Span reiterated that point later in the filing: "The Company is making concurrent offerings under both Regulation CF and Regulation D and unless the Company raises at least the target amount under the Regulation CF Offering and the closing amount under both offerings, it will not close this Offering." "Unless the Company raises at least the Target Amount of $25,000 under the Regulation CF Offering and a total of $1,000,000 under the Combined Offerings (the 'Closing Amount') by February 1st, 2019, no Securities will be sold in this Offering, investment commitments will be cancelled, and committed funds will be returned," the document states. While Orion Span met one requirement under the offering to raise at least $25,000 in crowdfunded investment, that may not be sufficient for the funding round to close. 30 Form C filing with the SEC, the company disclosed that it was carrying out the equity crowdfunding campaign, governed by a set of rules known as Regulation CF, alongside a separate, more conventional offering of equity governed by Regulation D, which together are called the "Combined Offerings" in the SEC filing. 29 email that "it's a bit hectic right now and we are going to have to pass on this opportunity" to discuss the fundraising effort. Courtney Merolle, a spokesperson representing the company, said in a Jan. Orion Span also declined to comment on the outcome of the crowdfunding campaign or its future plans. SeedInvest, which says on its website that it accepts only about one percent of the startups who apply to use the site for equity crowdfunding, did not respond to multiple requests for comment regarding the total amount raised by Orion Span and why the campaign web site was no longer available.
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