Software platform for animators that participated in Backstage Capital's accelerator program

Security Type
Convertible Note
Min Investment
Venice, CA
Offering Date
October 16, 2020
Expected Close Date
March 21, 2021
Amount Raised
Deal Notes

Discount Rate: 20%

Interest Rate: 5%

Conversion Provisions: In connection with equity financing of at least $1 million, the Company has the option to convert the Crowd Note into non-voting preferred stock (Conversion Shares) at a price based on the lower of (A) a 20% discount to the price per share for Preferred Stock by investors in the Qualified Equity Financing or (B) the price per share paid on a $4 million or $5 million valuation cap. Please refer to the Crowd Note for a complete description of the terms of the Crowd Note, including the conversion provisions.

Use of Proceeds

  • Intermediary Fees
  • Product Development
  • Legal Fees
  • Marketing

Key Deal Facts

Out of 1,800 applicants, UNOMi was one of 25 companies selected to be a member of Backstage Capital’s inaugural accelerator class in March 2019i
Patent-pending technology for its method of generating mouth animations
Founder sold his last company to AOL in June 2016ii
Creating an even larger suite of products that implement voiceovers, motion capture, and personal avatar building so users can have even more tools when designing and producing their animated content

Security Description

A convertible security is a security that can be converted into another security, typically equity in the next round of financing.

Research Reports

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