converted into cash or shares of the company’s common stock, starting in 2025. Proceeds from the stock offering would be used “for general corporate purposes, including working capital and possible acquisitions,” Exact said in a prospectus filed with the SEC.
—In other fundraising news, Scanalytics, a Milwaukee-based startup that develops hardware and software to help customers track the movement of people through physical spaces, raised $533,000 in debt funding. That’s according to a document filed with federal securities regulators, which shows the money came from three investors. About a year ago, Scanalytics said it had started working with California-based Cisco Systems (NASDAQ: [[ticker:CSCO]]) to integrate some of the two companies’ products.
—NovoMoto, which sells packages of solar panels, batteries, lights, and other equipment to people living in off-grid villages in sub-Saharan Africa, was crowned the top winner of the Wisconsin Governor’s Business Plan Contest. The Madison-based startup has already installed solar electricity systems in about 100 households in the Democratic Republic of the Congo, and estimates it will perform another 1,900 installations by the end of 2018, said co-founder Mehrdad Arjmand.
