Virtuix, manufacturer of the Omni active VR motion platform, announced that it is now in the “testing-the-waters” stage on SeedInvest for a possible mini-IPO, which would be open to the general public for investment thanks to Regulation A of the JOBS Act.
President Obama signed The JOBS Act on April 5, 2012, and on June 19, 2015 Regulation A under Title IV of The JOBS Act went into effect, allowing all Americans to invest in private early-stage companies. Before, only individuals with a net worth in excess of $1 million dollars with annual incomes no less than $200,000 annually were permitted to participate in IPO offerings.
In order for a company to raise capital in a Regulation A mini-IPO, it must seek approval through the SEC before launching the offering, and Virtuix' partnership with SeedInvest is to ensure there is sufficient interest in Regulation A funding.
“Given Virtuix’s previous fundraising successes on Kickstarter and SeedInvest, it’s fitting that they now invite all of their customers to indicate interest in potentially owning a small piece of the company,” said Ryan Feit, CEO and Co-Founder of SeedInvest. “Virtuix is a great illustration of a company that is at the forefront of combining raising capital with building a passionate community.”
Virtuix hopes to use the funds it raises in this mini-IPO for growth and product development. The company’s vision is to be an integral part of every active VR setup for both home and commercial applications. Because the VR community played an integral role in growing Virtuix and making the Omni possible, the company is excited for the possibility of letting its supporters profit from the growth of the company.
“Our company owes its beginning to the support of the passionate virtual reality community,” said Jan Goetgeluk, Founder and CEO of Virtuix. “Each week we receive requests from supporters who want to participate in the financial future of our company and, because of regulation, we’ve had to turn them away. It felt counter to our company’s culture. Now, with Regulation A, our customers and supporters may have a chance to buy shares in Virtuix alongside Silicon Valley venture capitalists and global institutional investors.”
To date, Virtuix has pre-sold over 4,000 Omnis, which you can purchase for $699 from its website. The company started shipping Omnis in limited quantities in December, with shipments expected to ramp up next year. Virtuix said the Omni is compatible with “leading headsets and virtual reality content.”
Virtuix said it has requested qualification for its offering from the SEC, and it is accepting non-binding indications of interest from potential investors in the meantime. For more information, see the Virtuix SeedInvest page.