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A Closer Look at the Southeast Private Placement Market

Q4 2016: Private Placement Issuers Raise $600MM+ in SC, NC, and GA

Q4 2016 saw a total of 96 successfully closed private placement capital raises, totaling just under $632MM, across South Carolina, North Carolina, and Georgia. Of those successful capital raises, 15 were greater than $10MM, 75 were less than $10MM, and 6 were for an undisclosed amount. Across all three states, the Internet Software and Services industry led the way with 9 capital raises, totaling $18.683MM, in Q4 2016.


Q4 2016 Private Placement Statistics* – NC, SC, and GA

Total # of Closed Capital Raises 96 Total Capital Raise Volume ($MM) $631.631
Median Raise ($MM) $1.52 Average Raise ($MM) $7.018
# of GA Transactions 45 # of NC Transactions 44
# of SC Transactions 7

* for deals with disclosed terms


Q4 2016 Capital Raises by Sector – NC, SC, and GA

Source: S&P Capital IQ


Q4 2016 Private Placement Capital Raises – NC, SC, and GA

Date Issuer Amount ($MM) Location Selected Investors Use of Proceeds Business Description
12/30/2016 Briar Patch Investments, LLC $8.91 Canton, GA Undisclosed $470,000 of proceeds will be used for management and consulting fees Real estate investment fund
12/30/2016 Royal Energy Resources, Inc. (OTCPK:ROYE) $2.00 Charleston, SC Undisclosed Undisclosed Focuses on the acquisition of coal, oil, gas, and renewable energy.
12/28/2016 Galectin Therapeutics, Inc. (NasdaqCM:GALT) $1.00 Norcross, GA Undisclosed Clinical trial funding, particularly NASH-CX trial, and planned expenditures Clinical stage biopharmaceutical company that develops drugs for fibrotic diseases and cancer
12/27/2016 Maxwellton Investors, LLC $2.95 Peachtree City, GA Undisclosed $250,000 of the proceeds will be used to make certain payments to executive officers, directors or promoters. Real estate investment fund
12/23/2016 Sandler Investors, LLC $2.68 Peachtree City, GA Undisclosed N/A Real estate investment fund
12/21/2016 Sparta Pink Investors, LLC $3.38 Peachtree City, GA Undisclosed N/A Real estate investment fund
12/16/2016 Webb Creek Management Group, LLC $2.69 Rome, GA Undisclosed $268,520 of proceeds will be used to pay executives, directors, or promoters Full-service consulting firm that specializes in providing a variety of services to landowners. Webb Creek helps landowners identify alternative uses of their property to maximize ROI.
12/16/2016 KWIPPED, Inc. $1.00 Wilmington, NC VentureSouth Lease office space to accommodate growing staff Online equipment rental marketplace
12/16/2016 Alrgn Bio, Inc. $0.95 Greensboro, NC Undisclosed Working capital purposes, which may include normal compensation to executive officers Biotech company developing reduced-allergen peanuts
12/16/2016 Legend Oil and Gas, Ltd. (OTCPK:LOGL) $0.30 Alpharetta, GA Hillair Capital Management LLC Undisclosed Crude oil hauling and trucking company with principal operations in the Bakken region of North Dakota.
12/15/2016 Tralongo, LLC $55.00 Atlanta, GA Bankers Healthcare Group LLC; Freedom 3 Capital Finance growth throughout the US Dental practice management company
12/15/2016 Sand Valley Investors, LLC $7.41 Evans, GA Undisclosed $175,000 will be used for consulting fees Real estate investment fund
12/15/2016 Pack Purchase, Inc. $2.00 Raleigh, NC Undisclosed Working capital purposes, which may include normal compensation to executive officers Now dba Canopy, the company provides lawn-care services
12/15/2016 ApolloMD Physician Partners, Inc. $0.72 Atlanta, GA Undisclosed Undisclosed Physician management company that partners with hospitals to provide enhanced patient care
12/14/2016 Femasys Inc. $40.00 Suwanee, GA Salem Partners Wealth Management, LLC Support the pivotal testing of FemBloc Developer of permanent contraceptive solution for women
12/14/2016 Concord Hospitality Enterprises Company $18.78 Raleigh, NC Undisclosed Undisclosed Hotel development, ownership, and management company
12/12/2016 Medovex Corporation (NasdaqCM:MDVX) $1.00 Atlanta, GA Undisclosed Fund future growth and complement existing balance sheet Medical technology development company
12/7/2016 Pendo.io, Inc. $20.00 Raleigh, NC Battery Ventures; Core Capital Partners; Spark Capital Partners, LLC; IDEA Fund Partners; Contour Venture Partners; Salesforce Ventures Accelerate growth and expand product capabilities Customer analytics platform for product managers
12/7/2016 Prep Initiatives, LLC $0.36 Atlanta, GA Undisclosed Undisclosed Commercial real estate company
12/6/2016 Springbot LLC $10.06 Atlanta, GA TTV Capital; TechOperators; Harbert Growth Partners Expand sales and marketing, including the launch of the Springbot eCommerce Scorecard eCommerce marketing automation platform
12/6/2016 LG Property, LLC $4.07 Clayton, GA Undisclosed Undisclosed Real estate investment fund
12/6/2016 Lodebar Investors LLC $3.50 Peachtree City, GA Undisclosed Undisclosed Real estate investment fund
12/6/2016 Causam Energy, Inc. Undisclosed Durham, NC PRTI, Inc. Proceeds will be used to harness and monetize waste materials, beginning with car tires Technology company developing communication solutions for the intelligent power grid
12/6/2016 ThreatSwitch Inc. $0.05 Charlotte, NC Mach37, LLC Undisclosed Software platform for federal contractors to manage compliance activities
12/5/2016 Avadim Technologies, Inc. $0.59 Asheville, NC Undisclosed Continuing to fund R&D and product growth Life sciences company developing a new class of therapies for skin-related diseases
12/5/2016 Carbon Conversions, Inc. Undisclosed Lake City, SC Hexcel Corporation (NYSE:HXL) Undisclosed Recycler of carbon-reinforced parts to make new, advanced materials
12/5/2016 Metabolon, Inc. $30.00 Durham, NC Essex Woodlands Health Ventures Further develop and commercialize pipeline of precision medicine Biotech company that manufactures and develops products in the precision-medicine space
12/1/2016 Republic Wireless, Inc. $30.00 Raleigh, NC Bandwidth.com, Inc. Fund accelerated product development and expanded marketing Mobile virtual network operator that sells low cost mobile phone service that defaults to Wi-Fi
12/1/2016 EcoVest Capital, Inc. $5.32 Atlanta, GA Undisclosed Undisclosed Real estate development company focusing on sustainable investment opportunities
12/1/2016 Pronto Technologies, LLC $1.25 Atlanta, GA Undisclosed Undisclosed Technology-enabled home repair company
11/29/2016 FarmBurger, LLC $8.00 Atlanta, GA Georgia Oak Partners, LLC Fuel expansion across the Southeast Atlanta-based upscale burger joint
11/29/2016 Legend Oil and Gas, Ltd. (OTCPK:LOGL) $0.28 Alpharetta, GA Hillair Capital Management LLC Undisclosed Crude oil hauling and trucking company with principal operations in the Bakken region of North Dakota.
11/28/2016 Little Pumpkin Creek North Investments, LLC $3.99 Rome, GA Undisclosed Undisclosed Real estate investment fund
11/23/2016 Mashburn LLC $3.50 Atlanta, GA Undisclosed $100,000 of the proceeds will be used to repay a loan previously provided to the company by an officer. Men’s clothing shop founded in 2007
11/21/2016 Creative Allies, Inc. $0.23 Raleigh, NC Undisclosed Undisclosed Integrated marketing firm that focuses on helping celebrity and consumer brands execute marketing campaigns and engage customers, specifically millennials.
11/21/2016 Lucena Research LLC $1.00 Atlanta, GA Undisclosed Undisclosed Developer of decision-support technologies for investment professionals, including hedge funds and wealth advisors.
11/17/2016 Avadim Technologies, Inc. $0.67 Asheville, NC Undisclosed Continuing to fund R&D and product growth Life sciences company developing a new class of therapies for skin-related diseases
11/16/2016 Silbo Inc. $0.25 Raleigh, NC Undisclosed Undisclosed SaaS company developing amateur sports league management software
11/16/2016 Fineline Technologies, Inc. Undisclosed Norcross, GA Summit Partners LLP Further expand its leadership position in the data and RFID solutions market globally and to expand the solutions to retailers and suppliers around the world. Supplier of retail ticketing, RFID, and barcode labeling
11/16/2016 T Stamp LLC Undisclosed Atlanta, GA Second Century Ventures, LLC Undisclosed Identity verification platform that uses social media and other publicly available data to verify user’s identity, and provide a unique FICO-like trust score
11/16/2016 Phononic, Inc. $71.00 Durham, NC Oak Investment Partners; Venrock; Welcome Trust, Investment Division; CI Financial Corp (TSX:CIX); WL Ross & Co. LLC; GGV Capital; UBS Wealth Management AG; Tsing Capital; Lookout Capital, LLC; Rex Health Ventures; Eastwood Capital Corp. Grow the sales and marketing organization Developer of new solid-state refrigeration technology
11/15/2016 AvidXchange, Inc. $18.00 Charlotte, NC Fifth Third Capital Holdings, LLC; Pivot Investment Partners LLC Development of new technologies, new sales channels, and hire staff Provides automated A/P solutions and other accounting software
11/15/2016 Kyle Court, LLC $0.83 Concord, NC Undisclosed Undisclosed Commercial real estate company
11/15/2016 Dynepic, Inc. $0.47 Charleston, SC Undisclosed Undisclosed Maker of the “Internet of Kids,” a safe, social platform allowing kids to connect with friends, apps, and devices based on parent permissions.
11/14/2016 Intent Solutions, Inc. $1.50 Atlanta, GA Undisclosed Drive growth, support ongoing technology development, and sales and marketing support Healthcare technology company developing solutions, for clinical research, pain management and specialized pharmacy
11/14/2016 2ULaundry, Inc. $0.40 Charlotte, NC Undisclosed Undisclosed Technology-enabled laundry company
11/10/2016 R65 Labs, Inc. $3.01 Durham, NC Undisclosed Undisclosed Software development company in the healthcare space
11/10/2016 Undercover Colors, Inc. $5.54 Raleigh, NC Undisclosed Undisclosed Startup that is developing nail polish that alerts the wearer to the presence of common date rape drugs in drinks
11/8/2016 Avadim Technologies, Inc. $1.54 Asheville, NC Undisclosed Continuing to fund R&D and product growth Life sciences company developing a new class of therapies for skin-related diseases
11/7/2016 PLI, LLP $12.50 Asheville, NC Mosaic Capital Partners Undisclosed Keycard manufacturer for the hotel and convention industry
11/7/2016 Anuvia Plant Nutrients $23.00 South Carolina TPG Capital, L.P.; Evans Properties, Inc.; Pontifax Ltd.; Enterprise Florida, Inc., Investment Arm; Osceola Capital Management, LLC; AIS JV Accelerate growth opportunities, utilization of food waste, and product development Manufacturer of high-tech, sustainable fertilizer products
11/7/2016 SinnoVita, Inc. $0.50 Raleigh, NC Undisclosed Undisclosed Undisclosed
11/3/2016 Atomized Inc. $2.50 Atlanta, GA Undisclosed Increase product marketing efforts and add members to leadership team Maker of cloud-based visual marketing calendars
11/3/2016 Rimidi Diabetes, Inc. $0.70 Atlanta, GA Undisclosed Undisclosed Cloud-based enterprise solution for diabetes management
11/2/2016 AgTech Accelerator $8.50 Durham, NC Arch Venture Partners, L.P.; Harris & Harris Group, Inc. (NasdaqGM:TINY); Flagship Pioneering; Bayer Aktiengesellschaft (DB:BAYN); Elanco Animal Health, Inc.; Hatteras Venture Partners; Syngenta Ventures; Mountain Group Capital, LLC; Alexandria Venture Investments; Pappas Capital, LLC Continue to discover and develop emerging agricultural technology startups A unique startup accelerator focused on discovering and developing emerging agricultural technology companies.
11/2/2016 Presidential Concepts, LLC $0.58 Atlanta, GA Undisclosed Undisclosed Commercial real estate company
11/2/2016 Iconic Therapeutics, Inc. $48.56 Atlanta, GA H.I.G. Capital, LLC; MPM Capital; Osage Partners LLC; HBM Healthcare Investments AG (SWX:HBMN); HBM Partners Ltd.; Lundbeckfond Invest A/S; Cormorant Asset Management, LLC; Xeraya Capital Sdn Bhd. Executive salaries and advance development of lead molecule ICON-1 Clinical-stage biopharmaceutical company dedicated to translating scientific insight into breakthrough medicines for serious diseases.
11/1/2016 SaaSOptics, LLC $1.80 Atlanta, GA TechStars, LLC Fuel future growth through increased sales and marketing efforts Cloud-based financial solution for subscription businesses providing affordable, comprehensive GAAP-compliant revenue reporting.
11/1/2016 Avadim Technologies, Inc. $1.05 Asheville, NC Undisclosed Continuing to fund R&D and product growth Life sciences company developing a new class of therapies for skin-related diseases
10/31/2016 Legend Oil and Gas, Ltd. (OTCPK:LOGL) $0.40 Alpharetta, GA Hillair Capital Management LLC Undisclosed Crude oil hauling and trucking company with principal operations in the Bakken region of North Dakota.
10/28/2016 Neurun, Inc. $0.06 Durham, NC Undisclosed Undisclosed Creator of interactive video course maps for competitive runners
10/27/2016 Infina Connect Healthcare Systems, Inc. $0.10 Cary, NC Undisclosed Undisclosed Digital health company focusing on coordinated care solutions for specialist referrals
10/27/2016 Legend Oil and Gas, Ltd. (OTCPK:LOGL) $1.45 Alpharetta, GA Hillair Capital Management LLC Undisclosed Crude oil hauling and trucking company with principal operations in the Bakken region of North Dakota.
10/26/2016 Jubi, Inc. $0.57 Alpharetta, GA Teamsourcing Undisclosed Digital learning platform for employee training
10/26/2016 SinnovaTek, Inc. $0.10 Raleigh, NC Undisclosed Undisclosed Provider of turn-key food processing systems
10/25/2016 Avadim Technologies, Inc. $0.58 Asheville, NC Undisclosed Continuing to fund R&D and product growth Life sciences company developing a new class of therapies for skin-related diseases
10/24/2016 Blue Sphere Corp. (OTCPK:BLSP) $1.00 Charlotte, NC Undisclosed $100,000 of proceeds will be used to pay executives, promoters, or directors Project integrator in the clean energy production and waste to energy industries
10/24/2016 Lucky Bucks Inc. Undisclosed Norcross, GA Quantum International Income Corp. (TSXV:QIC); Trive Capital Support continued growth and its highly capable management team in its acquisitive growth strategy. Owner and operator of digital gaming terminals
10/24/2016 K4Connect, Inc. $8.00 Raleigh, NC Sierra Ventures; Lowe’s Companies, Inc. (NYSE:LOW); Intel Capital; Stonehenge Growth Equity Partners; Better Ventures, LLC; Traverse Venture Partners; RGAx LLC Accelerate the growth of its first product, K4Community Provider of proprietary connected home solutions for seniors
10/24/2016 Anutra Medical Inc. $2.33 Morrisville, NC Undisclosed Undisclosed Maker of local anesthetic delivery system
10/22/2016 Credda Capital LLC $1.16 Spartanburg, SC Undisclosed Undisclosed Consumer finance company that provides credit for everyday purchases.
10/21/2016 Ob Hospitalist Group, Inc. $0.34 Mauldin, SC Undisclosed Undisclosed Provider of OB/GYN hospitalists across 27 states
10/21/2016 Dragon Army Apps LLC $0.33 Atlanta, GA Undisclosed Undisclosed Development studio that builds mobile experiences for brands
10/20/2016 AvidXchange, Inc. $3.50 Charlotte, NC Undisclosed $210,000 of proceeds will be used to pay directors, executives, and promoters Provides automated A/P solutions and other accounting software
10/20/2016 Apex Software Technologies, Inc. Undisclosed Roswell, GA Serent Capital Invest further in existing products and services Maker of cloud-based payroll and employer services tools
10/19/2016 Entegrion, Inc. $4.20 Research Triangle, NC Undisclosed Proceeds will be used for working capital purposes Develops and delivers products that address unmet needs in military healthcare and have attractive commercial applications.
10/18/2016 Social Beverage Company, LLC $0.40 Raleigh, NC Undisclosed Undisclosed Craft vodka distillery
10/17/2016 Midwestern Financial, LLC $2.25 Savannah, GA Undisclosed Undisclosed Undisclosed
10/17/2016 NeuroTronik, Inc. $0.33 Durham, NC Undisclosed Undisclosed Develops medical technology for the treatment of acute heart failure syndrome
10/16/2016 SimCore Technologies, Inc. $0.50 Atlanta, GA Undisclosed $300,000 of proceeds will be used to pay executive officers, directors, or promoters Developer of software for healthcare education and safety
10/14/2016 Carolina Lithotripsy, a Limited Partnership $0.12 Fayetteville, NC Undisclosed Undisclosed Provider of lithotripsy services, a minimally-invasive treatment for kidney stones
10/13/2016 Carolina Trust BancShares, Inc. (NasdaqCM:CART) $10.00 Lincolnton, NC Undisclosed General corporate purposes, investment in its bank subsidiary, and to redeem the remaining $2,580,000 of its outstanding preferred securities. Provides general commercial and retail banking products and services for individuals, professionals, and small mid-sized businesses in the Lincoln County and surrounding areas in North Carolina.
10/13/2016 Myxx Inc. $0.40 Cary, NC Undisclosed Working capital purposes, which may include normal compensation to executive officers Meal-planning tool that connects consumers with brands and retailers
10/12/2016 Bardy Diagnostics, Inc. $27.61 Charlotte, NC Ascension Ventures; SV Life Sciences Advisers, LLC; Health Enterprise Partners Technology and sales and marketing investments Medical technology company focusing on cardiac-health applications
10/11/2016 UserIQ, Inc. $2.00 Atlanta, GA BIP Opportunities Fund, LP; BLH Venture Partners, LLC; Tech Square Ventures; Accelerant Equity, Llc Expand marketing, sales, and customer success, and hire core engineering team CRM platform that focuses on nurturing and growing relationships after the sale
10/11/2016 Children’s Healthcare of Atlanta Surgery Center at Meridian Mark Plaza, LLC $0.61 Atlanta, GA Undisclosed Undisclosed Healthcare provider
10/11/2016 Luma Home Inc. $12.50 Atlanta, GA Undisclosed Undisclosed Wi-Fi solutions company focusing on private homes
10/10/2016 YuppTV Inc. $49.90 Atlanta, GA Emerald Media Further expand global footprint and expand content library Provider of South Asian TV content
10/7/2016 Avadim Technologies, Inc. $0.63 Asheville, NC Undisclosed Continuing to fund R&D and product growth Life sciences company developing a new class of therapies for skin-related diseases
10/6/2016 American Caresource Holdings, Inc. (OTCPK:GNOW) $0.20 Atlanta, GA Undisclosed Undisclosed Owns and operates 13 urgent and primary care centers in the east and southeastern US
10/6/2016 Lucerno Dynamics, LLC $6.34 Morrisville, NC Undisclosed Undisclosed Biotech company focusing on technology to identify radiolabeled biomarkers in tissue quickly, safely, and inexpensively.
10/5/2016 Avadim Technologies, Inc. $0.49 Asheville, NC Undisclosed Continuing to fund R&D and product growth Life sciences company developing a new class of therapies for skin-related diseases
10/5/2016 Avadim Technologies, Inc. $1.79 Asheville, NC Undisclosed Continuing to fund R&D and product growth Life sciences company developing a new class of therapies for skin-related diseases
10/4/2016 Urban Offsets, Inc. $0.30 Greensboro, NC Undisclosed Undisclosed Helps cities develop carbon offset projects
10/3/2016 YuppTV Inc. $15.00 Atlanta, GA The Poarch Band of Creek Indians, Endowment Arm Undisclosed Provider of South Asian TV content
10/1/2016 Dealer Financial Holdings LLC $0.30 Landrum, SC Undisclosed Undisclosed Holding company

Source: S&P Capital IQ

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