PANGEA

PANGEA

Men's Swimwear for the Worldly Gentleman

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Security Type
Crowd Note
Categories
Other
Min Investment
$1,000
Location
Los Angeles, CA
Offering Date
January 21, 2019
Expected Close Date
February 16, 2019
Target Raise
$200.00K-$500.00K
Deal Notes

Round type: Seed

Round size: US $500,000

Minimum investment: US $1,000

Target Minimum: US $200,000

Maximum Raise Amount: US $500,000

Security Type: Crowd Note

Conversion discount: 20.0%

Valuation Cap: US $2,000,000

Interest rate: 5.0%

Note term: 36 months

Closing conditions: While PANGEA has set an overall target minimum of US $200,000 for the round, PANGEA must raise at least US $25,000 of that amount through the Regulation CF portion of their raise before being able to conduct a close on any investments below $20,000. For further information please refer to PANGEA's Form C.

Transfer restrictions: Securities issued through Regulation CF have a one year restriction on transfer from the date of purchase (except to certain qualified parties as specified under Section 4(a)(6) of the Securities Act of 1933), after which they become freely transferable. While securities issued through Regulation D are similarly considered "restricted securities" and investors must hold their securities indefinitely unless they are registered with the SEC and qualified by state authorities, or an exemption from such registration and qualification requirements is available.

Raised to date: US $26,000 US $6,000 (under Reg CF only)

Company Description

The men’s swimwear market, currently valued at $7.1B, has shown strong growth due to heightened interest in health and recreational activities. However, while the men’s swimwear market has been growing, there is a lack of differentiated brands, both in terms of narrative and design. PANGEA fills that void by offering a genuinely unique fashion aesthetic for tailored men’s swimwear as well as a rich narrative surrounding travel and exploration.We create premium men’s swimwear, offering tailored fits in exotic prints. We offer our swimwear in three timeless fits and create original, brand-owned designs inspired from our own worldly travels. Our shorts feature a luxurious, “Quick-Dry” Japanese Polyester with antique nickel hardware, all hand-sewn in Colombia to create the ultimate travel companion. We go farther than our competitors by offering more than just good fabrics and tailored fits, but instead, worldly designs that are inspired from our own travels around the world. Our long-term goal is to expand outside of swimwear and create a full lifestyle brand that outfits the modern day traveler.2018 revenue through October of $285,790, a 300%+ increase from the comparable period in 2017, all with only $200k in funding since inception. We currently sell to customers in over 15 countries with 19% of our total orders being international. Since launching in 2014, we have received several press accolades including GQ, Gear Patrol, Cool Material, Men’s Health & Men’s Journal and also have had two successful seasons in Nordstrom as well as high-end boutiques around the world.

Perks

Tier 1. Investors of $2,500 or more will receive two free swimsuits of their choice.

Tier 2. Investors of $5,000 or more will receive three free swimsuits of their choice, + 10% off code for life.

Tier 3: Investors of $20,000 or more will receive four swimsuits of their choice, + 20% off code for life.

GOLD: Investors of $50,000 or more will receive Tier 3 perks, plus a all-expenses paid invitation to join the PANGEA team on a future international location shoot. **Max one investor per shoot.

Key Deal Facts

-2018 revenue through October of $285,790, a 300%+ increase from the comparable period in 2017 (based on unaudited financials)
-Direct-to-consumer Gross Product Margin of up to 88% (based on unaudited financials)
-Featured in prominent media publications such as GQ, Gear Patrol, Cool Material, Men's Health, & Details
-Average order value of $129 and a Return Customer Rate of 28% since March 2017

Use of Proceeds

Staffing: 40% - 20%

Marketing: 40%

Inventory: 30%

Retail Locations: 10%

*These figures vary depending on the amount of funding achieved.

Management Team / Advisory Board Bios

Nick Bradley - CEO

Anthony Garrett - Operations & Support Manager

Roger Ein - Director of Merchandising

Deal Notes

Round type: Seed

Round size: US $500,000

Minimum investment: US $1,000

Target Minimum: US $200,000

Maximum Raise Amount: US $500,000

Security Type: Crowd Note

Conversion discount: 20.0%

Valuation Cap: US $2,000,000

Interest rate: 5.0%

Note term: 36 months

Closing conditions: While PANGEA has set an overall target minimum of US $200,000 for the round, PANGEA must raise at least US $25,000 of that amount through the Regulation CF portion of their raise before being able to conduct a close on any investments below $20,000. For further information please refer to PANGEA's Form C.

Transfer restrictions: Securities issued through Regulation CF have a one year restriction on transfer from the date of purchase (except to certain qualified parties as specified under Section 4(a)(6) of the Securities Act of 1933), after which they become freely transferable. While securities issued through Regulation D are similarly considered "restricted securities" and investors must hold their securities indefinitely unless they are registered with the SEC and qualified by state authorities, or an exemption from such registration and qualification requirements is available.

Raised to date: US $26,000 US $6,000 (under Reg CF only)

Amount Raised : $29,500
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Security Description

A Crowd Note modifies the typical convertible note so that the crowd does not automatically convert to equity shareholders on the next financing and remain off the issuer’s capitalization table, but the crowd will still participate in any exit as if they had converted to equity. If there is no future financing, the holders of the Crowd Note still have upside, but could miss out significantly.

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