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Introduction
MAGFAST LLC [1] is a direct-to-consumer electronics company. We design and manufacture chargers, charging accessories, and charging-enabled luggage: A family of premium charging products that snap together magnetically, charge wirelessly, and support any smartphone, any tablet, any reader from any brand... old, new or in the future. A growing range of accessories that start with the last charging cable you’ll ever need. And an extraordinary new family of premium suitcases that integrate MAGFAST’s advanced chargers to keep your devices powered up while you’re on the move.
Individually awesome, they're brilliant together.
Every one of our eleven individual MAGFAST products is designed to compete as best in class, and to fulfill a specific need. To date, the vast majority of our customers have pre-ordered kits – either our 'Pro Kit' bundle of six chargers or our ‘Hello Kit’ bundle of three chargers, both available at a truly attractive price – or our premium Lux charging cable, America’s highest-rated USB cableᵃ. We launched Heathrow, a new range of high-end charging-integrated suitcases, at the end of March 2023. Early sales are already beating expectations.
deal highlights
For a limited period from April 20 to April 30, 2023:
From April 20-April 30 only, invest $250 or more and you’ll receive a voucher for free MAGFAST products. Receive another $50 for each additional $250 you invest.
And if your interest in MAGFAST stretches to a larger investment, these amazing perk packages are also available. Each perk takes full advantage of MAGFAST’s launch pricing for Heathrow, our brand-new family of luxury luggage, including the revolutionary eCarry-On with Extreme, the ultimate charger for travel.
The video at the top of this page explains the details. And we guarantee that any Heathrow perk package secured before this round closes will be in your hands before the end of this year.
Invest $5,000+ and receive the new MAGFAST Heathrow® eCarry-On + Extreme + Toughcover, together valued at $1,397, plus a 7-night getaway for four at a luxury resort (taxes and fees payable)… or any other MAGFAST products.
Invest $10,000+ and receive the new MAGFAST Heathrow® eCarry-On with Extreme and Toughcover, plus Heathrow Medium, plus Heathrow Large, together valued at $3,895, plus a 7-night getaway for four at a luxury resort (taxes and fees payable)… or any other MAGFAST products.
Invest $15,000+ and receive the ultimate Heathrow perk package for your family: two new MAGFAST Heathrow® eCarry-Ons with Extreme and Toughcover, plus Heathrow Carry-On, Heathrow Medium, and Heathrow Large, together valued at $6,291, plus a 7-night getaway for four at a luxury resort (taxes and fees payable)… or any other MAGFAST products.
- MAGFAST’s chargers and power banks are revolutionary, because they snap together magically, and charge as soon as they touch. No wires. No mess. No missing cables. They just work.
- Our last share offering, which opened in November 2021, sold out, raising the maximum $5 million permitted under Reg CF.
- In 2022, we launched MAGFAST Lux — a premium charging cable with a host of unique features and built to such high standards it comes with a Lifetime Warranty. The launch took place on Indiegogo, the well-known crowdfunding platform, and was so successful that sales exceeded $900,000 in the first month. There’s more below about this amazing new addition to the MAGFAST product family.
- In 2023, we launched MAGFAST Heathrow — a luxury aluminum luggage set that pairs with MAGFAST Extreme, the world’s best charger for travel. Heathrow delivers the ultimate combination of style and charging power, and sales exceeded $1 million in the first month.
- The global market for chargers and portable power banks is worth over $20 billion, and growing fast [2]. Yet, somehow, there are no great charging brands! The market for USB cables is worth over $12 billion, and growing even faster [2.1]. And the premium luggage market is estimated to be worth a whopping $48 billion and projected to grow to $76 billion by 2033 [2.2].
- MAGFAST has the marketing and product-design potential to become a dominant force in each of these markets, one of the first and only companies to develop a world-beating system approach to charging and travel.
- We are now shipping! Shipping to our many thousands of pre-order customers is constrained by funding (MAGFAST isn’t yet profitable) and by the care we take to incorporate user input. Nevertheless, things are moving fast: many thousands of customers have received their products, and thousands more will ship this year. Customers tell us they’re truly delighted.
PROBLEM
This story begins in a home, perhaps like yours, that always seems in need of a touch more organization.
Seymour Segnit invented MAGFAST to solve a real problem: those messy, often missing and frequently broken cables that end up all over the floor or in a drawer or back pocket somewhere . . . but which floor, which drawer, which pocket?
Mobile devices have become smarter and faster, and chargers have become more powerful. But the premise of charging is largely unchanged: clunky, throwaway boxes that rely on wires which , almost inevitably, break or get lost.
And then there's the opportunity cost of living without ‘everywhere charging’. Have you ever missed that all-important call or run out of juice when shooting a video of your kids or watching a favorite movie? In today's world, keeping your mobile devices charged is no longer a nice-to-have. Staying in touch for work, handling emergencies smoothly, being there for your loved ones when they need you - these are the promises of today's communications.
We knew it was time for something better.
solution
MAGFAST is:
- Designed to be best in class for each charger, power bank and cable individually
- A truly integrated family of wireless chargers and power banks
- Engineered to work consistently, reliably, every time, for years to come
- Designed in every detail to be elegant as well as functional
MAGFAST Lux, a newer member of our product family, is already Amazon’s highest-rated charging cable. Lux launched in August 2022 on Indiegogo, a leading global crowdfunding platform, and raised over $900,000 in a month.
Super premium, super stylish and super durable – and with a gorgeous, soft and silky feel – there’s a lot to love about Lux. Available as USB-C to USB-C (now standard on most modern devices) or MFi-certified USB-C to Lightning for Apple fans – it comes with an array of features which make it unique, like a custom USB-A adapter, gold-plated tips and Fingerprint® anti-counterfeit technology.
Lux’s Teflon® core makes it so tough that it comes with a Lifetime Warranty … which is why Lux is the last charging cable you’ll ever buy.
MAGFAST Pro Kit is our bundle of six chargers, by far the most popular choice of our early pre-order customers. It can't absolutely guarantee you will never miss another important call, but with MAGFAST you’ll always have the mobile power you need, for work, for play, and in an emergency.
The MAGFAST family is designed for durability, to take the real knocks of real life and to last for years to come. Pro Kit will charge your older devices from the past decade and the new devices coming up for the next decade.
The problem with traditional power banks has always been that they’re so inconvenient to get power in and to get power out! Every MAGFAST product has multiple ways of getting power IN, and multiple ways of getting power OUT.
Thanks to our micro-magnet based patent-pending system every device features MAGFAST Snap-to-Charge. So Wall can instantly charge Road, and Road can charge Life, and Life can charge Air and …
And because the MAGFAST Pro Kit has a powerful charger for every part of your life, it’s the perfect mobile communications power kit. For example, Extreme can charge multiple devices simultaneously, multiple times, and can jump-start up to two dozen cars. Road is both a battery pack and an emergency flashlight.
With MAGFAST in your home, your car, your office and your backpack, you're all set.
Individually, each product is designed to be best in class. As a family, nothing else comes close.
MAGFAST Heathrow, launched in March 2023, is our newest product line. A family of luxury luggage, Heathrow combines supreme style with consummate capability.
The Heathrow range of suitcases is sculpted from a strong, lightweight aircraft-grade anodized aluminum-magnesium alloy, corrugated for extra durability. Corners are triple layered and quad riveted. Every case has a custom lasered nameplate and vegan-leather handles on the outside. On the inside, a sleek designer liner and dual premium stowage chambers with mesh pockets for airflow.
The superstrong, supersmooth spinner wheels and handsome handles are travel tough for the bumps and knocks of all your upcoming trips - and easily repaired or replaced.
Every Heathrow luggage set includes the eCarry-On, MAGFAST’s radical solution for power on the move. eCarry-On’s unique Safe Enclave™ holds your Extreme power bank securely out of harm’s way, and keeps it instantly, always available for charging, or airport security.
The available Toughcover™ snaps onto Extreme for great looks and even greater protection.
business model
In official business-speak, our business model is DTC: direct to consumer.
We find our customers directly - through online advertising and a long-form presentation that explains the product range - and then nurture everyone who chooses to become part of the family.
In business-speak, our business model is DTC: Direct to Consumer.
We attract potential customers in three different but complementary ways, through:
- Online advertising and a long-form presentation that introduces the full MAGFAST product range.
- Online advertising and an invitation to purchase or pre-order products from store.magfast.com.
- Amazon: currently featuring Lux – Amazon’s highest-rated charging cable. We plan to introduce more products from the range over time.
Watch MAGFAST’s unique online pre-order experience that has driven over $16 million in sales and pre-orders. Here is a transcript of the presentation.
However people may choose to transact with MAGFAST, we’re committed to nurturing everyone who chooses to become part of the family.
Through superior customer care, regular communication, integrated snap-to-charge products and the announcement of new products and new markets, we believe excellent growth is possible, with strong levels of repeat business and a lifetime value per customer perhaps 2-3X the initial order value.
The MAGFAST family of chargers and power banks takes advantage of the very latest Qi wireless technology to offer a unique system of charging solutions. However, our homes and workplaces are still full of older devices that don’t incorporate wireless charging … and we try to keep them powered with cheap, nasty cables that constantly fail.
And so MAGFAST developed Lux! A super quality, super elegant, super strong charging cable, with a gorgeous, soft and silky feel, it's a world away from the poor quality, unreliable charging cables you’ve been using for years. It’s so well made, it comes with a Lifetime Warranty … which is why we say it’s the only charging cable you’ll ever buy.
It’s available in two formats: USB-C to USB-C (USB-C is now standard on most modern devices) and USB-C to Lightning for all Apple fans — and comes with an array of features below which make Lux cables genuinely unique, like a custom USB-A adapter, gold-plated tips and Fingerprint® anti-counterfeit technology.
We believe that, with Lux, we’ve built the finest device-charging cables that money can buy.
market
The charger market is big. Very big.
While analysts don’t all agree on quite how big, they do agree that the market is huge and growing fast. For example, in a report published by IMARC Group, the global battery charger market reached a value of US$ 21.7 billion in 2020 and is expected to reach US$ 34.1 billion by 2026. The wireless charger segment alone is estimated to have breakneck annual growth of up to 25% [2].
And, unlike most mature consumer markets, there are really no great charger brands.
Competitors include Belkin, Anker, Aukey, Mophie, RAVPower, Duracell, iClever, EasyAcc, Samsung, Xiaomi, Monoprice. Lesser-known (in the U.S. and elsewhere) brands include Aibocn, Boscov, Bestek, Yoobao, iMuto, Maxxima, Moshi, Native Union, Nimble [3]. The market is highly fragmented, with no large companies primarily dedicated to charging, and several smaller companies jockeying to differentiate themselves based on minor feature differences (improved build quality, marginally larger batteries, slightly faster charging times, etc).
To our knowledge, no other charger company yet offers an integrated system of products that all work seamlessly together, or any equivalent to snap-to-charge. MAGFAST’s product range and business model are designed to be considerably more ‘sticky’ than competitive chargers and power banks.
And we believe that no other charger brand has the vision or marketing skill to launch unique, premium charging products that can integrate across markets, from charging cables to power banks to travel goods, and have the potential to dominate in each sector.
We expect repeat orders and a strong lifetime customer value for these reasons:
- Products that work together as a system provide an excellent incentive to buy additional units in the same family of devices.
- MAGFAST is one of the first companies in the space to adopt the ‘direct-to-consumer’ (DTC) model comprehensively. This gives us the advantage of a much closer relationship with prospects and customers: we currently communicate on a weekly and monthly basis about progress, special offers and new opportunities.
Now we are shipping products from our range, we are able to take a major slice of this substantial and highly lucrative market. This is particularly true as those products are receiving positive feedback from customers and journalists. However, we need to expand our ability to both manufacture and ship additional products within our range, as rapidly as possible, and this is the primary reason why this share offering is important. We believe an improved cash position will arm us with negotiating power to cut the cost of goods, speed development and engineering, and to invest in inventory – major direct impacts on our competitive positioning and market share.
progress
The company has made major progress in the following areas:
- Product development: many thousands of pre-order customers have now received products and we continue to ramp shipping as rapidly as we can.
- Marketing: our customer acquisition model, as evidenced by over $16 million in pre-orders, is comprehensively proven
- Operations: our systems are built to scale
- Customer care: response times are consistently well above industry norms
- Intellectual property: the founder has developed a robust portfolio of patents and trademarks
Design, development, engineering and manufacturing are handled by a highly experienced team led by our chief operating officer, responsible for more than 30 products over the past 25 years.
Our manufacturing partner is P3 International, a US-based manufacturer in New York with partners in Asia. Completing product engineering for the product family has taken much longer than expected, impacted in part by our lack of negotiating power and the effects of COVID-19. Production status [4] is regularly updated at www.MAGFAST.com/status.
It’s a core competency for MAGFAST. A small team is led by the company’s CEO, a gifted online marketing expert, a CMO with over 25 years of building consumer and B2B brands, and a digital-marketing head with unique experience in building return on advertising spend (ROAS) for consumer products. MAGFAST marketing is currently 100% online, primarily in the form of targeted ads on Facebook and YouTube. A sophisticated marketing funnel, built over five years by an in-house team in collaboration with experienced external agencies, is monitored and refined constantly.
Towards the end of last year, we recruited a full-time, highly experienced head of digital marketing to optimize the effectiveness of our significant online advertising spend. We are already seeing a promising uplift in advertising returns, with lead-generation costs falling and conversion rates rising. Given the substantial sums we allocate to customer acquisition activity, we expect that these enhancements will have a meaningful impact on MAGFAST’s progress towards profitability.
New online ads are made and released regularly and tested in different market segments; each month’s learning is fed into new creative, constantly refining format, benefits and content. Ad respondents typically attend a webinar offering pre-order pricing. Show interest by registering for an online event or other promotional activity and you become part of the MAGFAST marketing ecosystem. A program of customer relationship marketing kicks in to provide information and guidance to purchase.
MAGFAST’s direct-to-consumer model affords us a much closer relationship to prospects and customers than traditional consumer electronics manufacturers using conventional wholesale and retail outlets as their path to market.
The company has been based since inception on a virtual workforce, with team members working remotely in the U.S. and other countries, and a comprehensive suite of online technologies designed to scale. MAGFAST.com has been built to handle high traffic volumes reliably and fast.
All pages of the site are cached on Google’s Cloud Platform which can serve millions of users simultaneously, and the event experience and checkout process (a customized experience for every visitor) use JavaScript to offload the bulk of the computing to the visitor’s browser. Remember, our systems handled $1/4 million in under 15 minutes on the very first day MAGFAST was launched . . .
At MAGFAST, we think a little differently. We hired Sanja, a former lawyer, for customer care because at her interview she aced the question ‘What’s customer care all about?’ with the one word answer: ‘Serotonin’. Keeping our customer happy is the whole game, which is why 9/10 are sticking with us on this long development journey. Today she runs the department, which boasts response times around twice the industry average.
MAGFAST is laser focused on customer care as a key part of building long-term relationships with a large and growing group of supporters. We've devoted a big slice of our time to figuring out how to keep customers happy without draining cash: our team has developed “Intelligent Customer Support” that allows us to keep a big-hearted personal touch while drastically cutting the time it takes to answer every support ticket. Our customer care team is also geographically distributed around the globe to enable near round-the-clock support.
The growing portfolio of patents and trademarks relating to the MAGFAST product range is used by the company under exclusive, royalty-free license from the inventor, Seymour Segnit. According to the terms of the license agreement, title to the licensed materials is automatically assigned to the new controlling entity in the event of a change of control.
We project significant growth both through repeat orders from existing customers and the development of new markets. Current and future initiatives include:
- A follow-up campaign shortly after initial inquiry recalls features and benefits for prospects who did not purchase.
- Ongoing communications allow MAGFAST to build its relationship with customers, cover product and production updates, and make special offers.
- The ongoing release of brand-new products featuring snap-to-charge.
- The release of international variants allowing us to address markets in the EU, UK, Asia and beyond.
product range
MAGFAST Lux
Lux reinvents the charging cable. Super premium, and with a gorgeous, silky feel, it even comes with a Lifetime Warranty … which is why we believe it’s the best device charging cable money can buy.
- Available in two formats – USB-C to USB-C (the new modern standard) and USB-C to Apple Lightning
- A beautifully designed custom USB-A adapter tip included FREE – so they’ll work perfectly with all new AND old outlets everywhere
- Tested to destruction – Lux cables are certified to 25,000 bends
- Not just strong but super strong – capable of supporting a load of over 150lb
- All the speed you’ll need – download an HD movie in about 30 seconds
- Patent-pending, gold-flash gold-plated tips for the ultimate connection
- Our Fingerprint® anti-counterfeit technology to ensure the authenticity of your product
- Customers love Lux! At 4.9/5 on Amazon, it’s America’s highest-rated USB cableᵃ.
MAGFAST Life™
Life is your palm-sized powerhouse
- The perfect everyday charger, it packs two to four full smartphone charges
- High-performance charging, wired or wireless
- Perfect with all your devices — any phone, any tablet, any reader . . . from any brand, old or new
- Truly versatile – five ways to get power out, four ways to get power in
MAGFAST Extreme™
Extreme is a super-charger in a league of its own
- Enough power to keep your devices going for days
- A power bank with three Qi Wireless charging zones
- Six ways to get power out, four ways to get power in
- Powerful with all your devices, it’s also powerful with all your vehicles . . .
- . . . add the available Jumpers™ and it will jump-start your car!
MAGFAST Road™
Road is the star in your car
- Power a road trip for up to six people - an industry pioneer
- 3 USB-C plus 3 USB-A outlets
- Charge Road from the 12V car socket or snap on any other MAGFAST charger
- Our built-in mini-cable
- Plus that gorgeous, super-bright flashlight!
MAGFAST Air™
Air is your simple, gorgeous Qi Wireless charging stand
- Qi-certified to work perfectly with every modern smartphone
- Snaps instantly on to any other MAGFAST charger for power ...
- ... or just plug in a USB-C or micro-USB cable
- The innovative stand stores magnetically on the back . . .
- . . . and snaps sturdily onto the base when you need it
MAGFAST Wall™
Powerful and versatile, it’s the perfect home-charging ‘base station’
Our upgrade to one of the world’s most popular charger designs [5] now offers MAGFAST snap-to-charge magnetic charging top and bottom.
- Retain your home power outlets plus take advantage of wired and Qi Wireless charging
- Snap-to-charge any MAGFAST power bank right on top or underneath
- Modern USB-C, Apple’s Lightning and the older Micro-USB connector tips - all stored neatly in the back
- Two ‘FastCharge’ USB-A outlets
- Upgrades available to either double or quadruple the available power with USB-C to power laptops and other power-hungry devices.
MAGFAST Time™ (for Apple® Watch™)
It’s the best way to charge the world’s most popular watch — Apple Watch
- A full power bank with all the core features
- Fast USB-C, built-in mini-cable, four ways to get power in
- A neat, servo-motorized watch charging platform
- Up to two weeks power for your Apple Watch
MAGFAST Heathrow®
Heathrow shows you’ve arrived when you’re still on your way.
- Lightweight, durable, aluminum-grade premium luggage set
- Anodized aluminum-magnesium alloy shell
- Power-on-the-go provided by Extreme, the ultimate charger for travel
- Superior interior with dual chambers, mesh pockets, custom shoe/laundry bags
- Secret tracker compartment holds Apple AirTag®, Tile®, etc - any tracker, any brand
- Rubber-lined 360-degree ball-bearing spinner wheels are silent and smooth-rolling
- Carry-On dual TSA-approved combination locks; Medium and Large triple locks
- Handles and wheels are both strong... and easy to repair or replace
- Corners are triple-layered and quad-riveted
- Lasered nameplate. You’ll choose up to 30 characters to personalize yours.
MAGFAST TEAM
He studied engineering at Oxford University, and his long career has included stints at Ogilvy & Mather and Saatchi & Saatchi, presenting his own show at London’s biggest radio station and co-founder of a venture-backed Silicon Valley startup. He served in the same capacity at thingCHARGER Inc, another USB charger company, from Dec 2013 to Aug 2016.
Seymour has served with MAGFAST LLC since its inception, and is a controlling member of manager - Mischievous LLC.
Her strong creative work helps MAGFAST stand out from the crowd. Among earlier clients, Amy counts corporations like Barnes & Noble College Bookstore and Businessweek, plus many of the world’s leading ad agencies including Jack Morton Worldwide, Young & Rubicam and TBWA/Chiat Day. Amy served as co-founder and creative director at thingCHARGER Inc, another USB charger company, from Dec 2013 to Aug 2016.
Amy has served with MAGFAST LLC since its inception, and is a controlling member of manager - Mischievous LLC.
As a senior executive, Rich has been personally responsible for over 30 products ranging across software (enterprise, mobile desktop and embedded), hardware (silicon, board, module, and box), and complete systems. His core strength is in aggressive and predictable company execution in the areas of people, products, and financial management. M.S.E.E. (Georgia Tech).
Rex has been managing member of Merexa LLC, an online publishing company, since Jul 2005, and served as executive director of the Cleantech Open from Jan 2009 to Dec 2014. The Cleantech Open is the world’s largest accelerator for clean-technology startups. M.A. (University of Oxford).
Michael's unique understanding of the relationship between strategy and communications allows him to help businesses optimize marketing efforts to meet strategic goals. His passion for digital marketing drives him to seek out new and innovative solutions, making him a valuable asset to the MAGFAST team.
She lives in Texas and, since graduating from Texas A&M University in 2015, this is the second startup that she’s worked with. Kate loves the startup culture and is excited to be working with the great team at MAGFAST.
In addition to providing personal assistance via email and live chat, Sanja manages our payment plan program and complex data-driven projects. Sanja’s law degree and nine years of working expertise in the legal system allow her to provide valuable new perspectives to MAGFAST’s development. An entrepreneur at heart with a passion for startups, Sanja's enthusiasm and effervescence have made her a perfect match for MAGFAST’s vision.
He built a financial software development company to serve clients like Barclays, Merrill Lynch, Morgan Stanley Smith Barney, and UBS. In addition to large-scale software development, Jeff helps these organizations with business strategy, sales process, and client experience.
Jeff has served on the New York Board of Entrepreneur’s Organization and is certified Gazelles, Outhinker and Book Yourself Solid coach.
FOOTNOTES
[a] There are at least hundreds of USB cables on Amazon, the primary US marketplace. We have researched and monitored this over many weeks, and don't see any other USB cable selling in any meaningful volume that rate as highly as MAGFAST Lux.
[b] MAGFAST limited-edition products are manufactured to order in different series. Some investors and collectors may be interested in acquiring more than one series, or the complete set. Series 1 Limited-Edition MAGFAST Air is manufactured in alpine white. Series 2 Limited-Edition MAGFAST Air is manufactured in piano black.
[1] MAGFAST® and the MAGFAST® logo are registered trademarks of Mischievous LLC and are used under license. Apple, Lightning and MFi are trademarks of Apple, Inc. and are used by license under Made for Apple/MFi program. Qi is a trademark of the Wireless Power Consortium and is used under license. AirTag is a trademark of Apple Inc.Tile is a trademark of Tile, Inc.
[2] A recent report by IMARC Group, titled 'Battery Charger Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020 - 2026', finds that the global battery charger market reached a value of US $21.7 billion in 2020 and is anticipated to reach US $34.1 billion by 2026. According to MarketsandMarkets Research, the market for wireless chargers is expected to grow even more rapidly and is expected to reach $13.4 billion by 2026, rising at a compound annual rate of 24.6%.
[2.1] In their report titled ‘USB Cable Market ... : Global Opportunity Analysis and Industry Forecast, 2021-2031,’ Allied Market Research considers that ‘The global USB cable market was valued at $12.73 billion in 2021, and is projected to reach $69.86 billion by 2031, growing at a CAGR of 20.24% from 2022 to 2031.’
[2.2] Prudour indicates in their research report titled ‘Global Premium Luggage Market Research Report 2022 (Status and Outlook)’ that ‘The Premium Luggage Market is estimated to be USD 48.55 Billion in 2022 and is expected to reach USD 76.8 Billion by 2033, growing at a CAGR of 7.4%.’
[3] This is a cross sample of competitors from our own observations and represented in market research published by third parties. Competitors vary by region.
[4] At this early manufacturing stage, our full family of products may be represented in our materials by production and pre-production units, along with hand-made prototypes, animations and CAD 3D renderings.
[5] Amy and Seymour Segnit were previously the owners of thingCHARGER, Inc. which shipped over 1⁄4 million units of thingCHARGERs based on that company’s records, before thingCHARGER, Inc. ran out of funds. MAGFAST Wall is an updated version of thingCHARGER. Rights to key thingCHARGER assets were purchased by Amy and Seymour when they started MAGFAST.
[6] If you choose to make your investment using a credit card, Netcapital will charge you a card processing fee that’s typically slightly more than 3%. Netcapital can answer your questions about this fee.
[7] MAGFAST is a Limited Liability Company (LLC). LLCs have considerable flexibility in the language used to define their ownership and governance. Instead of 'members' and 'units', MAGFAST has chosen to use terminology that we believe is more readily understood: for example, managing members may be referenced in our materials as MAGFAST’s board of directors, and members as stockholders.
iNFORMATION FOR INVESTORS
Here’s some material we think you’ll find useful as you consider an investment [6] in MAGFAST LLC [7].
Investor Video Presentation
This is our video announcement about this offering, which includes the latest information about shipping status, and segments with a short overview of our strategic thinking, our business model, competition, intellectual property protection, average order value, systems, marketing, manufacturing, customer care, future opportunities, and setting up an account at Netcapital.
Here's a transcript of the presentation.
Investor Packet
For those of you who prefer a PDF over video or this web page, here’s our current packet. And here’s a packet with answers to frequently asked questions.
Additional Terms
Investors who participate in the Offering on or before February 24, 2023, will be able to invest at a purchase price of $15.57 per share, which equates to a $38,180,427 pre money valuation; and investors who participate in the Offering after February 24, 2023, will invest at a purchase price of $15.77 per share, which equates to $38,670,862 pre money valuation.
Use of Proceeds
If the offering's maximum amount of $3,349,990 is raised:
| Use | Value | % of Proceeds |
|---|---|---|
| Tooling | $130,000 | 3.9% |
| Manufacturing & Materials & Fulfillment | $1,535,850 | 45.8% |
| Sales, General & Administrative | $1,235,000 | 36.9% |
| Product Certification | $20,000 | 0.6% |
| Research & Development | $264,991 | 7.9% |
| Intermediary fees | $164,149 | 4.9% |
Terms
This number includes all funds raised by the Company in this round on Netcapital. This is an offering of Common Units, under registration exemption 4(a)(6), in MAGFAST, LLC. This offering must reach its target of at least $10,000 by its offering deadline of May 1, 2023 at 10:59pm ET. If this offering does not reach its target by the offering deadline, then your money will be refunded.
If the offering is successful at raising the maximum amount, then the company’s implied valuation after the offering (sometimes called its post-money valuation) will be:
Financials
These financial statements have been audited by an independent Certified Public Accountant.
SEC Filings
The Offering Statement is a formal description of the company and this transaction. It’s filed with the SEC to comply with the requirements of exemption 4(a)(6) of the Securities Act of 1933.
We’re also required to share links to each of the SEC filings related to this offering with investors.
- Form C on November 17, 2022
- Form C/A on November 17, 2022
- Form C/A on November 23, 2022
- Form C/A on December 14, 2022
- Form C/A on January 13, 2023
- Form C/A on January 17, 2023
- Form C/A on February 10, 2023
- Form C/A on February 14, 2023
- Form C/A on February 15, 2023
- Form C/A on February 24, 2023
- Form C/A on April 12, 2023
- Form C/A on April 21, 2023
- Form C-U on September 1, 2023
Understand the Risks
Be sure to understand the risks of this type of investment. No regulatory body (not the SEC, not any state regulator) has passed upon the merits of or given its approval to the securities, the terms of the offering, or the accuracy or completeness of any offering materials or information posted herein. That’s typical for Regulation CF offerings like this one.
Neither Netcapital nor any of its directors, officers, employees, representatives, affiliates, or agents shall have any liability whatsoever arising from any error or incompleteness of fact or opinion in, or lack of care in the preparation or publication of, the materials and communication herein or the terms or valuation of any securities offering.
The information contained herein includes forward-looking statements. These statements relate to future events or to future financial performance, and involve known and unknown risks, uncertainties, and other factors, that may cause actual results to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties, and other factors, which are, in some cases, beyond the company’s control and which could, and likely will, materially affect actual results, levels of activity, performance, or achievements. Any forward-looking statement reflects the current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to operations, results of operations, growth strategy, and liquidity. No obligation exists to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
More Info
Updates
- Apr 30, 2024Closing ceremonies encore presentation...
- Apr 30, 2024MAGFAST closing ceremonies encore presentation...
- May 2, 2023Primary offering finalized, selling units
- Feb 16, 2023MAGFAST is live with some gorgeous, unique...
- Nov 24, 2022The countdown clock is running. MAGFAST's fall...
- Nov 22, 2022Seymour has landed at JFK and is right now...
- Nov 22, 2022Join us **this Thursday, Thanksgiving Day...
- Jul 12, 2022A quick reminder that our big Summer 2020 event...
- May 3, 2022We're down to the last few hours, and MAGFAST's...
- May 2, 2022MAGFAST has now raised over $4.9M. Less than 2%...
- Apr 29, 2022Just a few hours from now we'll be streaming...
- Dec 2, 2021This is it! The final hour to invest in...
- Dec 2, 2021We just went LIVE with our 'Closing Ceremony'...
- Dec 2, 2021Today is the final day to **invest in...
- Nov 30, 2021Just TWO days remain to invest in...
- Nov 29, 2021Today we're announcing that we're now...
- Nov 27, 2021I hope you're having a relaxing weekend. I...
Frequently Asked Questions
We've learned from our previous offerings that many people have similar questions about MAGFAST and how to invest. This Q&A video (originally shown on Tuesday, November 16, 2021) covers many of the questions asked by investors, and there are answers to additional frequently asked questions below.
Questions about investing in MAGFAST
We can't of course know what the demand will be like. Many people were unable to get into previous investment rounds, so it is possible that there will be strong demand this time. We do recommend only investing if this is right for you - investing in an early stage company like ours is risky.
If this offering sells out, the Netcapital site will automatically stop taking further investments. However, if you see a message indicating that there's no more room, you do have the choice to join the waitlist. That could be a good idea - it's possible that there will be some additional room should other investors be unable to fund their investment in time, and Netcapital may also be able to inform you of future offerings from MAGFAST.
Yes, by SEC regulation we aren't able to cover specific offering details in our video. But we're able to do so within the Netcapital portal. You'll see our price per share at the top of the 'Pitch' tab: $15.17, and our valuation for this offering at $41,801,460.
Netcapital requires a minimum investment of $100 for U.S. investors (actually, a few cents more than $100 in our case because the share price is not a round number) and $300 for international investors (or slightly more than $300).
There is no fixed maximum investment in MAGFAST. There are, however, some constraints: First, we're aiming to make this offering available to the maximum number of people - there is a chance that, once again, not everyone will be able to make it into this round. Second, the SEC has rules, based on what you can afford, about how much you can invest. You will see questions (to which your answers are fully confidential) which will help the platform calculate the maximum sum you can invest under government rules.
Yes, you will be able to come back in and make as many additional investments as you like, until or unless the round fills up. There is no additional cost for making multiple investments: Netcapital does not charge any fee to you as an investor, other than the 3% processing fee if you choose to invest using a credit card.
The official closing date is November 29th, and it is possible that Netcapital will offer shares to people from the waitlist, if available, after that date.
The information is all here at Netcapital.
Questions from international investors
According to legal advice, yes, absolutely: "Can Non-U.S. Investors Participate in U.S. Crowdfunding Offerings? Yes. No matter where he or she lives, anyone can invest in a U.S. Crowdfunding offering". For more information, take a look here.
It's not truly possible for us to know the exchange rate offered or any fees charged for a foreign transaction by your bank (if you send payment via wire transfer) or credit card processor.
We're delighted to welcome international investors, as long as your country allows you to make investments in a U.S. equity-crowdfunding offering. If you have questions about setting up your Canadian Social Insurance Number or other non-U.S. version of a social security number, please specify that you are not in the U.S. If you need further help, please contact Netcapital.
Questions about paying for my investment
That works. Please be aware that it can take some days for the Netcapital Wallet to be funded, so, if we’re nearing the close date, you might instead like to invest by setting up your bank account or using a credit card. If you choose to invest by credit card, it might be a good idea to phone your card issuer to let them know in advance. We understand from Netcapital that any funds left in your Wallet after you invest can always be refunded.
We understand from Netcapital that, while the interface they use to allow a link to bank accounts for investment is connected with thousands of banks and credit unions, there are some smaller institutions that are not supported. You could ask your credit union if they have a means of connecting with Netcapital - although that's not likely to happen in time. The alternatives are of course to invest using a credit card or wire transfer.
Netcapital does not charge investors a fee for making an investment, which means that:
- There is typically no fee for making your investment through a bank transfer (available only from U.S. banks and credit unions supported by Netcapital's interface)
- There is, however, a ~3% fee for payment via credit card. Card processors charge a fee for use of their services - Netcapital is, as far as we're aware, just passing on the cost.
- We understand that Netcapital does not charge a fee for a wire transfer, but it's likely that your bank does. Fees in the United States are typically $15-$25, but please check with your bank first.
No, Netcapital does not charge a fee to you. Any fees for the offering will be covered by MAGFAST. There is, however, a card processing fee (around ~3%) should you invest via credit card.
If you're not seeing this option, it's likely that you are outside the United States. Investing using your bank account is only available to people with an account at a U.S. bank or credit union.
Please also note that many more of your questions may be answered within the comprehensive, searchable Netcapital Help Center
Ask a Question
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