What is AirXpanders?
AirXpanders, formerly Fremont Petroleum Corporation Limited, operates as an oil and gas production and development entity with extensive operations across Colorado, Illinois, Kentucky, Tennessee, and Virginia. The company's strategic focus is on aggressively increasing daily production through enhanced performance of its current assets and the opportunistic acquisition of onshore USA oil and gas properties. Key acquisition criteria include producing conventional oil and gas wells, assets amenable to low-cost field operations and workovers, leases held by production without ongoing drilling commitments, and opportunities for achieving economies of scale through contiguous field consolidation and similar enhancement strategies.
How much funding has AirXpanders raised?
AirXpanders has raised a total of $162.5M across 12 funding rounds:
Series D
$10M
Series E
$4M
Debt
$7M
Other Financing Round
$1M
Stock Offering
$36.5M
Share Placement
$15M
Share Placement
$34M
Debt
$15M
Other Financing Round
$15M
Series D (2012): $10M featuring Heron Capital, Prolog Ventures, GBS Venture Partners, Vivo Ventures, and Western Technology Investment
Series E (2013): $4M backed by GBS Venture Partners
Debt (2014): $7M with participation from GE Capital
Other Financing Round (2014): $1M led by Heron Capital and GBS Venture Partners
Stock Issuance/Offering (2015): $36.5M, investors not publicly disclosed
Share Placement (2016): $15M, investors not publicly disclosed
Share Placement (2017): $34M, investors not publicly disclosed
Debt (2017): $15M with participation from Oxford Finance
Other Financing Round (2018): $15M led by Vivo Ventures
Key Investors in AirXpanders
GBS Venture Partners
GBS Venture Partners is a venture capital firm that focuses on investing in innovative healthcare companies. They aim to support entrepreneurs in the development of groundbreaking medical solutions. Their portfolio includes companies involved in pharmaceuticals and medical devices, targeting various health conditions. GBS Venture Partners is dedicated to advancing healthcare through strategic investments and partnerships.
Oxford Finance Corporation
Oxford Finance founded in 2002 and headquartered in Alexandria, Virginia, is a specialty finance firm that offers flexible financial solutions to healthcare and life sciences companies worldwide.
GE Capital
General Electric Company, founded in 1892 and headquartered in Boston, operates as a global infrastructure and technology company. GE specializes in multiple sectors including power generation, renewable energy, aviation, healthcare, and transportation. The company provides gas and steam power systems, wind turbine technologies, aircraft engines, medical imaging equipment, and locomotive solutions. GE also offers industrial automation, grid solutions, and digital services across its business segments. With operations spanning North America, Europe, Asia, and other global regions, General Electric delivers innovative products and services to customers in both industrial and consumer markets worldwide.
What's next for AirXpanders?
The substantial enterprise-level funding and recent strategic investment signal a pivotal phase for AirXpanders. This capital infusion is expected to fuel the company's aggressive growth strategy, focusing on improving existing asset performance and expanding its operational footprint through strategic acquisitions. The company is poised to leverage its established infrastructure and market position to capitalize on opportunities within the onshore US oil and gas landscape, aiming for enhanced production and greater economies of scale. Future developments will likely involve further asset optimization and potential consolidation within its operational regions.
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