HYLETE Announces Regulation A Offering
The Innovative Fitness Lifestyle Company Sets Out on its Ninth Crowdfunding Round
SOLANA BEACH, Calif., April 6, 2020 /PRNewswire-PRWeb/ -- HYLETE, Inc., a fitness lifestyle brand built, backed, and driven by the HYLETE Nation community, has announced a $12 million equity raise under a Regulation A Tier 2 offering. HYLETE was founded in 2012 as a direct-to-consumer brand and has experienced significant growth, with 2019 net revenues of over $12.5 million.
Regulation A (Tier 2) is a securities offering that allows private companies to raise investment amounts of up to $50 million from the public. Reg A enables companies to offer shares to the general public and not just accredited investors.
HYLETE is offering up to 12 million shares of the company's common stock that will be available to investors at $1.00 per share, with a minimum purchase of 500 shares per investor. The SEC has qualified this offering.
This equity offering will be HYLETE's ninth crowdfunding round. Since 2015, HYLETE has gained more than 4,900 investors, of which, 85% are loyal customers who have infused $9.9 million into the company. This inspired the HYLETE-coined term, "investomer."
"We originally designed and launched a patented cross-training short. Today, we now have an extensive line of men's and women's apparel, footwear, and gear," said Ron L. Wilson II, CEO, and Co-founder. "We believe that our brand's impact should live beyond the products that we sell, and as such, our energy is equally focused on inspiring the well-being of our community – a community that we call the HYLETE Nation."
With a fully completed offering, HYLETE intends to apply for a direct listing on the Nasdaq Stock Exchange. Although the company intends to apply for quotation of its common stock on Nasdaq, there are a number of requirements that the company may or may not be able to satisfy in a timely manner. Even if the company obtains that quotation, it is unknown the extent to which investor interest will lead to the development and maintenance of a liquid trading market. Investors should assume that they may not be able to liquidate investments for some time or be able to pledge these shares as collateral.
About HYLETE
HYLETE has created a fitness lifestyle ecosystem that has been built, backed, and driven by its community. HYLETE aspires to not only build premium athletic wear, but also to engage and inspire its community with fitness apps, content, challenges and education.
About StartEngine
StartEngine is the leading equity crowdfunding platform in the U.S., where everyday people can find and invest in private companies. StartEngine has helped more than 325 companies raise $125M+ from a community of over 225,000 prospective investors. Based in Los Angeles, the company was created in 2014 by Howard Marks, co-founder of Activision, and Ron Miller.
StartEngine is committed to revolutionizing the ways companies raise capital through the JOBS Act and helping entrepreneurs achieve their dreams. StartEngine Crowdfunding Inc. is not a broker-dealer, funding portal or investment adviser. StartEngine Capital, LLC is a funding portal registered with the US Securities and Exchange Commission (SEC) and a member of the Financial Industry Regulatory Authority (FINRA). StartEngine Primary LLC is a broker-dealer registered with the SEC and FINRA/SIPC.
SOURCE HYLETE
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