April 2025 | Arizona Debt, Equity & Venture Capital Insights
The information reflects transactions as reported, including deal descriptions, values, and statuses, but may contain gaps, such as undisclosed deal terms or financial metrics, which limit comprehensive analysis. While efforts have been made to ensure accuracy, users should consult primary sources or professional advisors for legal, financial, or strategic decisions. No warranties are made regarding the completeness or reliability of this data, and the provider assumes no liability for its use.
Arizona - Transaction Value and Count by Month
Reflects ECM, DCM and ROF datasets
Arizona — Overview
Arizona’s capital markets in April 2025 recorded 16 transactions, spanning Phoenix, Tucson, and Scottsdale, with companies raising $133 million in disclosed funding across Equity Capital Markets (ECM), Debt Capital Markets (DCM), and Rounds of Funding (ROF) in healthcare, technology, industrials, and consumer sectors. ECM activity included CaliberCos Inc.’s $0.9 million follow-on offering and Picard Medical, Inc.’s $11.5 million IPO, while DCM saw Fusion Orthopedics USA, LLC’s $5 million non-convertible debt raise. Venture funding dominated with Source Global, PBC’s $87.9 million Series C round and Apex Motor Club’s $30 million raise, alongside smaller crowdfunding efforts like Just Call Me Shirley, LLC’s $0.12 million, showcasing Arizona’s draw for both startups and mature firms.
Arizona — X / Y Plot By Sector: ECM, DCM and ROF (Venture Capital)
Reflects ECM, DCM and ROF datasets
Equity Capital Markets: Monthly Aggregate Transaction Value and Transaction Count
Debt Capital Markets: Monthly Aggregate Transaction Value and Transaction Count
Rounds of Funding (Venture Capital): Monthly Aggregate Transaction Value and Transaction Count
Arizona — Capital Markets Segmentation
Reflects ECM, DCM and ROF datasets
Arizona — Sector Breakdown
Reflects ECM, DCM and ROF datasets
Second Level Primary Industry Breakdown
Reflects ECM, DCM and ROF datasets
Arizona — April 2025 Capital Markets Deal Summaries
Equity Capital Markets
Follow-on
CaliberCos Inc. Offering
On April 17, 2025, CaliberCos Inc., based in Scottsdale, Arizona, completed a $0.9 million follow-on offering of units, each including one Class A common stock share and one right to acquire one-fifth of a share, listed on Nasdaq under “CWD,” supporting asset management growth through portfolio expansion, with closure on April 21, 2025.
IPO
Picard Medical, Inc. IPO
On April 1, 2025, Picard Medical, Inc., based in Tucson, Arizona, announced an $11.5 million IPO of common stock, intending to list on NYSE American under “PMI,” strengthening healthcare equipment development with funds for innovation, with the transaction pending closure as of the latest data.
Rounds of Funding
Early Stage - Crowdfunding
Just Call Me Shirley, LLC Offering
On April 24, 2025, Just Call Me Shirley, LLC, based in Tempe, Arizona, announced a $0.12 million crowdfunding offering of non-convertible debt via Honeycomb Portal LLC, fueling distillers and vintners growth, with closure expected on May 26, 2025.
Early Stage - Seed
FMTG Corp Offering
On April 1, 2025, FMTG Corp, based in Chandler, Arizona, completed an early-stage seed funding round under Regulation D, supporting initial development in an unclassified sector, with the transaction closed on April 1, 2025.
Venture - <5 Yrs
Pines Gurr LLC Offering
On April 1, 2025, Pines Gurr LLC, based in Flagstaff, Arizona, announced a $5 million venture funding round, raising $1.449 million from 12 investors under Regulation D, driving unclassified sector growth, with the transaction ongoing as of April 1, 2025.
HFO Sun Theory SPV, LLC Offering
On April 4, 2025, HFO Sun Theory SPV, LLC, based in Scottsdale, Arizona, announced a $3.8 million venture funding round, securing $0.45 million from two investors under Regulation D, enabling unclassified sector development, with the transaction open as of April 4, 2025.
Apex Motor Club Offering
On April 18, 2025, Apex Motor Club, based in Maricopa, Arizona, completed a $30 million venture funding round led by RJT Capital Partner under Regulation D, accelerating movies and entertainment growth, with the transaction closed on April 18, 2025.
Simplifyance Inc. Offering
On April 8, 2025, Simplifyance Inc., based in Phoenix, Arizona, announced a $3.554 million Series A funding round, raising $2.304 million from 16 investors under Regulation D, enhancing healthcare technology development, with the transaction ongoing as of April 8, 2025.
Mature - >7 Yrs
Ron Turley Associates Inc. Offering
On April 24, 2025, Ron Turley Associates Inc., based in Phoenix, Arizona, completed a Series A funding round led by Susquehanna Growth Equity, LLC under Regulation D, bolstering IT consulting services, with the transaction closed on April 24, 2025.
Source Global, PBC Offering
On April 3, 2025, Source Global, PBC, based in Tempe, Arizona, announced an $87.9 million Series C funding round, raising $19.3 million from nine investors under Regulation D, scaling electrical component production, with the transaction ongoing as of April 3, 2025.
Wealth, Inc. Offering
On April 16, 2025, Wealth, Inc., based in Tempe, Arizona, completed a Series 5-7 Yrs funding round with The Charles Schwab Corporation for a minority stake, enhancing financial technology software, with the transaction closed on April 16, 2025.
Flora Surfaces Inc. Offering
On April 7, 2025, Flora Surfaces Inc., based in Tucson, Arizona, completed a mature funding round with Capital Q Ventures under Regulation D, supporting specialty chemicals production, with the transaction closed on April 7, 2025.
NCS Engineers, LLC Offering
On April 10, 2025, NCS Engineers, LLC, based in Scottsdale, Arizona, completed a mature funding round with Clairvest Equity Partners VII under Regulation D, strengthening construction and engineering capabilities, with the transaction closed on April 10, 2025.
Fusion Energy Solutions, Inc. Offering
On April 25, 2025, Fusion Energy Solutions, Inc., based in Chandler, Arizona, completed a $0.03 million mature funding round under Regulation D, advancing heavy electrical component development, with the transaction closed on April 25, 2025.
Non-convertible Debt
Fusion Orthopedics USA, LLC Offering
On April 8, 2025, Fusion Orthopedics USA, LLC, based in Mesa, Arizona, announced a $5 million non-convertible debt offering under Regulation D, supporting healthcare equipment production scaling, with the transaction ongoing for over a year.
Magic Cactus Co Inc. Offering
On April 14, 2025, Magic Cactus Co Inc., based in Phoenix, Arizona, announced a $1.5 million offering, raising $1.03 million in common shares (treated as non-convertible debt) under Regulation D, bolstering non-alcoholic beverage production, with the transaction open as of April 14, 2025.
Capital Markets Segmentation — Glossary:
Equity Capital Markets
Follow-on: A public issuance of additional shares by a listed company to raise capital.
Convertible: Issuing equity-linked securities that can convert into common shares, blending debt and equity.
Debt Capital Markets
Non-convertible Debt: Fixed-income securities issued to raise capital, without equity conversion.
Preferred Equity: Shares with fixed dividends and priority over common equity, without conversion.
Rounds of Funding
Early Stage - Pre-Seed: Early startup investment for ideation or initial setup.
Early Stage - Crowdfunding: Raising small capital amounts from many investors via online platforms.
Early Stage - Seed: Initial startup investment for product development or market entry.
Venture - <5 Yrs: Early-stage investment in startups less than five years old for growth.
Mature - >7 Yrs: Capital raised by established companies over seven years old for expansion.
Debt - Convertible: Private debt that converts to equity, often for startups.
Debt - Non-Convertible: Private debt financing that doesn’t convert to equity, funding operations.
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