London Sock Company
London Sock Company is a stylish sock brand for today’s modern gentleman.
- London, United Kingdom
Categories: Clothing & Accessories Digital B2C
London Sock Company is a stylish sock brand for today’s modern gentleman, offering an extensive range of quality socks, gifts and socks on subscription.
For co-founders Ryan Palmer & Dave Pickard, both former city professionals, this is part of an exciting start-up journey that began in September 2013 with a simple observation; that very few men wear ties these days, and people really do notice your socks.
Today, London Sock Company proudly offers quality, luxury men’s socks available online and via our subscription service. Our mission is to help modern men add style, while looking and feeling professional.
London Sock Company is supported by strong male celebrity wearers including: Daniel Craig, Tom Hiddleston, Theo James, as well as supermodel David Gandy, who is both brand ambassador and an investor in the company.
The Company has raised 3 rounds of investment, on which Seedrs investors have pre-emption rights:
September 2016: £359,891.85 investment at a £21.05 share price.
March 2017: £194,569 investment at a £33.68 share price. This investment was made through a deferred subscription agreement that had a 20% discount on the valuation set by their next funding round.
October 2017: £355,829.50 at a £42.11 share price.
Because 3 rounds have occurred (at 3 different share prices) since the Seedrs investment, this pre-emption round is being run in a slightly different manner:
> This campaign is being run at the lowest share price of £21.05.
>Investors may invest as little or as much as they like in this round. However, if the aggregate pre-emption rights for Seedrs on the September 2016 investment are exceeded, then investors may be scaled back.
> If this campaign is oversubscribed and investors need to be scaled back, we will then open a new campaign at the next share price (£33.68) (and then again at £42.11 if that round is oversubscribed) to allow investors to take up their full pre-emption rights across all three rounds.
The email sent to each investor sets out:
- your minimum pre-emption rights at the £21.05 price (ie your secured allotment for this round); AND
- your pre-emption rights over all 3 rounds - ie how many shares you will need to purchase across all three rounds to counter the dilution of all three raises.
For those looking to counter dilution across all 3 rounds, you are welcome to subscribe for these shares in this campaign. Depending on demand from other investors, your full subscription may be accepted at this price or may be scaled back as above.
As this is a pre-emption campaign open only for existing shareholders, minimum details are being provided. More information on London Sock Co can be found on the company's website. Please note, this information has not been verified or approved by Seedrs.
Please note that the company has a director loan of £76,738.83. None of the funds raised will be used to pay this loan.
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