Briefly: edo Interactive files for $8MM private placement
By Milt Capps Last Updated 9:05 a.m. June 13, 2009
In October, when edo Interactive announced completion of a $5 million A-round, CEO Ed Braswell said at the time he thought the funding would be sufficient to fund the company's formal launch in January 2009.
Maybe not. The formal launch was not unveiled until May 20, and on Wednesday Green Hills-based edo Interactive filed notice with the Securities and Exchange Commission for a private placement round that might be worth $8 million.
A raise of that magnitude would bring total investment to at least $14 million. Nashville-based Claritas Capital and Clayton Associates have been among the company's investors.
Although edo Interactive invested in a substantial presence last year during Bonneroo, an edo Interactive staff member answering the company's phone told VNC this afternoon the company is not promoting its products in the festival, this year.
edo's SEC filing indicates the types of securities offered would include equity and-or options, warrants or other instruments. Update 2:38 p.m.: Braswell and Chadwick declined to comment on the offering today, indicating they preferred to do so after the round is completed. ♦