Note from the Publisher: We are thrilled to report that the first Reg CF deal, which just went live on May 16th of this year, has closed on its funding goal on NextSeed (with some funky graphics and verbiage, we must say) – an “experiential hostel” (que??????) in Austin, TX called “The Native”.
“Reg CF, created under Title III of the JOBS Act, became actionable on May 16, 2016. Since that time, over 50 companies have signed up to raise capital under the crowdfunding exemption. Today we have the first issuer to close having achieved its funding goal. The Native, crowdfunding on NextSeed, has raised $396,500 from 227 different investors.
The Native is a luxury hostel located in Austin, Texas in the downtown entertainment district. Described as the first hostel of its kind, the Native intends on opening up new locations across the United States similar to an expansion strategy used by Freehand and Generator.”