CHARLOTTE — Charlotte-based telecommunications company Airwavz Solutions Inc. raised $19.4 million from 43 investors in a private equity offering, according to a filing Thursday with the Securities and Exchange Commission.
Airwavz’s recent capital injections are the latest in a spate of financing agreements: The in-building wireless infrastructure provider raised $3.58 million in July 2017 through a private debt offering, and $1.5 million in October 2016.
Last week, Airwavz disclosed an equity investment from Pamlico Capital, a Charlotte-based private equity group that invests primarily in middle-market North American companies.
Pamlico’s target industries are business and technology services, communications and health care. The amount was undisclosed.
Airwavz
“The partnership with Pamlico will allow us to accelerate the execution of our vision to solve these challenges for commercial building owners, tenants, and wireless carriers,” said Airwavz CEO Brad Davis in a statement.
The firm owns and operates wireless infrastructure in dense metro areas, specifically in commercial office space and hospitality buildings.
Approximately 80 percent of mobile data consumption originates or terminates inside buildings, and only a small fraction of buildings have adequate wireless infrastructure, according to the company.
Davis is a 25-year telecommunications and technology veteran with experience in corporate, private equity and early stage growth companies.
Private companies similar to Airwavz Solutions, which rely on a Reg D exemption, aren’t required to register securities offerings with the SEC, but instead they must file a Form D electronically with the SEC after they sell the securities.
This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism
