SHAVEKIT LTD a Home & Personal business raised £ 411,756 via a Equity raise funded on 6 Mar 2020

Seedrs

Who are SHAVEKIT LTD

SHAVEKIT LTD is located in Wallington.

Shavekit restocks men’s bathrooms with razors and other high quality grooming supplies.

The terms of the deal, for which we are today opening up the pre-emption rights, was negotiated over a period of about a year between 2015 and 2016. The equity/shares from that strategic investment were not allocated all at once in 2015, they have been distributed quarterly, from Q2 2016 until Q4 2019. So although the deal was agreed in 2016, the terms meant that the investment actually flowed over a period of 5 years. Which created an unusual situation; where we had further rounds of investment, at a higher valuation, open and complete, before the strategic investment’s shares had been completely issued and that 2015 round closed. The valuation you see today is therefore not today’s valuation, but a pre-emption round for 2015’s valuation, that 2015 valuation was not based on just what capital we received in exchange for equity. The strategic investment adds far more value than just money, in this tough industry, in our view, a strategic partner was and is, crucial to success. The investment round that this pre-emption relates to was agreed in 2015/2016 but took 5 years to allocate the shares, at the 2015 valuation. You are now being offered the pre-emption rights for on the same basis as the strategic investor, as is your right and for the same share price that they had in 2015.

Company details for SHAVEKIT LTD

The company was incorporated as a Private limited with Share Capital on 7 Oct 2013 and is registered in the UK at Companies House with Company Number 08720732

The sector the business operates in is described at Companies House as 47910 – Retail sale via mail order houses or via Internet with its registered office at SUITE 308 REAVER HOUSE, 12 EAST STREET, EPSOM
SURREY
KT17 1HX.

Current status of the company is Active.

How much was raised in the Shavekit Seedrs Crowdfunding Campaign

Company funded on 6 Mar 2020 with £411,756 at a pre money valuation of £1,668,506 . The target raise was £399,996 for 19.34% of the equity of the company.

The raise was a Equity raise.

The company operates in the sectors Home & Personal , Non-Digital and B2C .

What information do the filings at Companies House provide about the Company

Last accounts made up to 31 December 2019 filed by the company show

  1. Cash £228.4k
  2. Net Worth £162.2k
  3. Total Liabilities £217k
  4. Net Assets £163.2k

The records indicate the company has total directors of 2 and 9 shareholders.

Accounts Filing Status

  1. Last Accounts – Last accounts made up to 31 December 2019
  2. Last accounts made up to 31 December 2019

Confirmation Statement Status

  1. Last Confirmation Statement – Last statement dated 7 October 2019
  2. Next statement date 7 October 2020
    due by 18 November 2020

Filings Recently Made By SHAVEKIT LTD

12 Jun 2020 – Statement of capital following an allotment of shares on 23 April 2020
GBP 2,067.855

05 May 2020 – Total exemption full accounts made up to 31 December 2019

27 Apr 2020 – Registered office address changed from Sbc House Restmor Way Wallington Surrey SM6 7AH England to Suite 308 Reaver House 12 East Street Epsom Surrey KT17 1HX on 27 April 2020

19 Nov 2019 – Statement of capital following an allotment of shares on 19 November 2019
GBP 2,056.19

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