Pryor Cashman Represents PayGo Energy in Series A Financing
Pryor Cashman represented PayGo Energy, Inc. in connection with the private placement of $3.5 million of Series A Convertible Preferred Stock to institutional accredited investors that are focused on making investments in entrepreneurial ventures in Africa that promise to provide long-term social impact. The offering closed on August 20, 2018.
Founded in early 2016 and based in Nairobi, Kenya, PayGo Energy seeks to provide clean and affordable gas on a pay-as-you-go basis to the nearly three billion people worldwide who lack access to clean cooking fuel, with an initial focus on East Africa. Its micro-payment structure critically aligns with existing consumer spending habits to overcome current cost barriers and enable access to a stable supply of cooking gas.
The Pryor Cashman Team
Representing PayGo Energy in the transaction from Pryor Cashman’s nationally-recognized Corporate Group were Counsel Michael Campoli and Associate Edward Cohen. Pryor Cashman has represented PayGo Energy in connection with all corporate matters since inception, including the issuance of Series Seed Convertible Preferred Stock in April 2017.
