Rich May News: 2003
October 27, 2003
Rich May client, Predictive Power, Inc., closes $1 million Convertible Debt Financing Round
Rich May, a Professional Corporation is pleased to have represented its client, Predictive Power, Inc., a provider of expert predictive monitoring and maintenance solutions for electric power substations, in connection with its recent $1 million convertible debt financing investment, co-led by New York based seed and early-stage technology venture fund, SAS Investors (SASI, formerly known as “Silicon Alley Seed Investors”) and Colorado based seed and early-stage venture capital fund for energy technology, Altira Technology Fund, each of whom invested $500K towards the financing.
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About Predictive Power
Predictive Power, Inc., located in Woburn, MA, provides real time condition assessment and predictive monitoring products and services. Its products help electric utilities, power producers, and industrial customers improve the reliability and reduce costs of their substation infrastructure. The total cost of reliability problems is estimated at over $100 billion annually for U.S. industries. Predictive’s solutions derive from more than 15 years of utility-sponsored research into the monitoring and condition assessment of power transformers conducted at the MIT High Voltage Research Laboratory.
About Rich May
Rich May’s diverse practice embraces the organization and operation of business ventures, venture capital, private placements, hedge funds, public offerings, technology licensing, mergers and acquisitions, contracts, joint ventures, internet and e-commerce law, employee relations, intellectual property, litigation and dispute resolution, energy, telecommunications, public utilities, wealth planning and real estate. Rich May provides superior legal and strategic counsel through its extraordinary commitment to clients’ success, outstanding professional competence and straightforward ability to communicate. Rich May embraces an entrepreneurial spirit and maintains a mission execution culture that distinguishes Rich May from other law firms.
Rich May combines the stability and experience of one of Boston’s oldest preeminent law firms with the innovative spirit and energy of a venture catalyst intensely focused on serving high-tech entrepreneurs, emerging companies and investors in New England and throughout the United States.
For more information, visit www.richmaylaw.com.
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