GridX reports $7.5M in securities sold; its three investors remain unnamed
GridX's September filing records three investors and debt and warrant-linked securities, but leaves their identities, terms and valuation undisclosed.
By RuntimeWire Staff · Published
Primary source: U.S. Securities and Exchange Commission
Why it matters
GridX has added forecasting to its utility rate and billing software through the Innowatts acquisition. The Form D confirms $7.5M sold, but its debt and warrant classifications and undisclosed terms make the financing's cost and ownership impact impossible to assess from the amount alone.
GridX, the utility software company co-founded by Scott Engstrom, reported a fully sold $7.5 million securities offering in a Form D filed on September 23rd. The filing says the first sale took place on September 9th and lists three investors. It does not name them.…
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