Sol Boards, Inc. of Bend, Oregon, has entered into a long-term financing agreement with Golf Capital Group (GCG) of Oklahoma City, Oklahoma, to fund the rapid expansion of the Company’s managed fleet rental program.
Through its new relationship with GCG, Sol Boards will significantly increase the size its company-owned demo fleet from approximately 100 boards today to as many as 400 boards by year-end 2017. GolfBoard has already deployed over 2,000 boards to over 250 courses worldwide. Many of these courses initially participated in a 60-day GolfBoard trial prior to making the decision to lease or purchase. Consequently, this potential 300% increase in company owned trial boards is expected to substantially increase the volume of follow-on purchases in the years ahead.
This new rental fleet financing agreement with GCG will also help accelerate the rapid adoption of the company’s new ResortBoard offering. By leveraging GolfBoard’s proprietary technology, the company expects to quickly penetrate the $15BN worldwide electric scooter marketplace.
The massive size of this adjacent market creates the potential for the popularity of the ResortBoard to eventually exceed its already highly successful GolfBoard.
For investment information go to – https://www.startengine.com/startup/golfboard-2
Sol Boards, Inc. is now completing a second-round equity capital raise through its ongoing 506(c) offering. The company has already raised approximately $1.6M so far this year, and anticipates reaching $2M by the close of the current offering. To ensure the current 506(c) offering is fully subscribed, the closing date has been moved 1 week to Friday April 7th. This will allow investors 7 more days to purchase Sol Boards stock at the current price of only $1.25 per share. The Company anticipates this fleet financing announcement will result in the over subscription of this offering and states that, with over $650K already commitment of $1M of availability, interest investors should subscribe quickly before this offering sells out.