FLY Wilmington

FLY Wilmington

Closed: Mar. 2023

About this raise

FLY Wilmington is raising funds on Folla Capital. The company provides indoor skydiving for military training, education, and entertainment. The business operates an indoor skydiving wind tunnel in Wilmington, North Carolina, and uses it for military training oriented to the United States Marine Corps and additional Military Freefall organizations, STEM training to students, and recreational purposes for locals and tourists. Patrick M. Maguire founded FLY Wilmington in June 2021. The current crowdfunding campaign has a minimum target of $200,000 and a maximum target of $5 million. The campaign proceeds will be used to offset bank portion of the financing package.

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Investment Overview

Invested this round: $371,500

Deal Terms

Total Commitments

Platform
Folla Capital
Start Date
03/06/2023
Close Date
03/31/2023
Min. Goal
$200,000
Max Goal
$5,000,000
Min. Investment

$2,000

Security Type

Debt

SEC Filing Type

RegCF    Open SEC Filing

Interest Rate

10.00%

Term Length

5.0 years

Company & Team

Company

Year Founded
2021
Industry
Media, Entertainment & Publishing
Tech Sector
Non-Tech
Distribution Model
B2B
Margin
Low
Capital Intensity
High
Location
Westport, Connecticut
Business Type
Life Style
Company Website
Visit Website

Team

Employees
4
Prior Founder Exits?
No
Founder Name
Patrick Maguire
Title
Founder

Financials

 Revenue
$0
as of FY2021
 Monthly Burn
$8,493
as of FY2021
 Runway
4.7 months
as of FY2021

Summary Profit and Loss Statement

FY 2021 FY 2020

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-101,919

$0

Summary Balance Sheet

FY 2021 FY 2020

Cash

$39,538

$0

Accounts Receivable

$0

$0

Total Assets

$92,738

$0

Short-Term Debt

$33,657

$0

Long-Term Debt

$0

$0

Total Liabilities

$33,657

$0

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$0
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
03/31/2023 Folla Capital - $371,500 Debt Funded RegCF
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Add to portfolio
FLY Wilmington on Folla Capital 2023
Platform: Folla Capital
Security Type: Debt

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Follow FLY Wilmington on Folla Capital 2023

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Warning: according to the close date for this deal, FLY Wilmington may no longer be accepting investments.

FLY Wilmington Deal Report

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