US-India based social commerce startup, Sagoon files for US SEC looking raise $20 million from February 2017. Offering investment opportunities to public investors that are already Sagoon users, fans and supporters, the company announced the filing of a Regulation A+ (MINI-IPO) with the US Securities and Exchange Commission (SEC).
The company plans to sell 869,564 shares of class C Common Stock at $23 per share, after the offering is qualified by the SEC, the minimum investment will be 13 shares – amounting to $299.
Govinda Giri, the founder of Sagoon, said “I always wanted to offer this opportunity to my own community, and all those fans & supporters who believe in our dream, so that each one of them gets a chance to help us change the world and receives the potential financial benefits that Sagoon aims to share.”
Govinda further added, “Our mission is to build a rewarding life through the innovative social path: Connect. Share. Earn. This could be an excellent opportunity for anyone who has faith in our mission. Currently, we are accepting ‘indication of interests’ from potential investors and once we are qualified by the SEC, people from India, US, Canada and other parts of the world will be able to convert their interest into an investment as long as it’s legal in their country.”