INVEST IN AFFORDABLE COMMUNITY ENERGY SERVICES COMPANY (ACE) TODAY!
Dan Greenberger
Chief Innovation Officer
Rachel Liu
Project and Marketing Manager
Jeffrey Perlman
President of Bright Power (Technical Advisor)
Trenton Allen
CEO of Sustainable Capital Advisors (Financial and Capital Advisor)
Madelyn Greenberger
Director, Vice President and Secretary
Maximum Number of Shares Offered subject to adjustment for bonus shares
Maximum 20,000 shares of Class B Common Stock ($1,000,000)
Minimum 200 shares of Class B Common Stock ($10,000)
Company | Affordable Community Energy Services Company |
| |
Corporate Address | 180 N. Michigan Avenue, Suite 2405, Chicago, IL 60601 |
| |
Description of Business | An energy services company (ESCO) providing broad-based energy efficiency, water conservation and renewable energy retrofit improvements to the owners of multifamily low-income ("affordable") housing. |
| |
Type of Security Offered | Shares of Class B Common Stock (the "Shares", or the "Securities") |
| |
Purchase Price of Security Offered | $50 |
| |
Minimum Investment Amount (per investor) | $250 |
Unless required by applicable law, no holder of Class B Common Stock shall have any voting right or power in respect of Class B Common Stock, and no holder of Class B Common Stock shall be entitled in respect of Class B Common Stock to notice of any stockholders’ meeting; provided, that no amendment of the Second Amended and Restated Articles of Incorporation of the Company (the “Restated Articles”) that adversely affects the rights of holders of Class B Common Stock as set forth in Article 5 of the Restated Articles of Incorporation (other than any amendment that proportionally affects the rights of holders of the Class A Common Stock in the same manner) shall become effective unless it shall have been approved by vote of holders of more than 50% of all outstanding shares of Class B Common Stock, voting as a separate class on the basis of one vote per share of Class B Common Stock held.
If ACE completes this offering of shares of Class B Common Stock with the sale of the minimum number of the shares of this offering (200 shares), then ACE will at the time of the completion of the offering have the following capital structure:
Class A Common Stock (voting): 45,000 shares owned directly and indirectly (through Greenberger Holding LLC) by Jeffrey Greenberger and his spouse.
Class B Common Stock (non-voting): 200 shares to be owned by purchasers in this offering
Convertible Note Holders: 4,712 shares of Class A Common Stock issuable on conversion of notes owned by prior investors
Irregular Use of Proceeds
The Company might incur Irregular Use of Process that may include Salary and other personnel-related payments to its President, repayments of project-related advances made by the President, payments for marketing and strategic advisory services to the President’s brother and to repay the principal and interest due on a portion of the Convertible Promissory Notes that have been purchased by relatives of the President and Madelyn Greenberger, his spouse. See Related Party Transactions above.
At this panel discussion, Jeff Greenberger, as COO of ACE Inc., the Hispanic Housing Development Corporation subsidiary that pioneered ACE’s model, described how a mission-driven energy solution company can be a source for the payment of all of the costs of a comprehensive energy and water efficiency retrofit.
Continental Plaza is an example of how energy and water upgrades can help preserve affordable housing while reducing carbon emissions and conserving natural resources. Using ACE, Inc.’s innovative, mission-driven energy service company model, Continental Plaza reduced its annual utility costs by over $47,000 under the shared-savings agreement—a 15 percent utility cost reduction. A building owner who receives all of the energy and water cost savings could have seen its 2014 utilities reduced by as much as $109,282. (Note: ACE Inc. was the Hispanic Housing Development Corporation subsidiary that pioneered ACE’s model and of which Jeff Greenberger was COO at the time.)
01.24.18
Dear investors and followers,
We are approaching the end of ACE's crowdfunding campaign! This is your last chance to be part of ACE’s mission to help low-income housing communities and the planet.
ACE is more than thankful for your emotional support, yet we do hope to get your monetary investment, too. As we continue with the $6 million project with Mercy Housing in the coming year and expect a financial return, a substantial working capital would help us to make sure that we deliver the best service. This means that every investment you make would be of great value to ACE and our mission!
Please take this last chance and invest in ACE today.
We appreciate your help.
Sincerely,
The ACE Team
01.23.18
Dear StartEngine Followers,
Thank you for being a part of ACE's crowdfunding campaign over the past few months. We are heartened by your interest in improving lives for low-income communities and for protecting our environment—which, as you know, is at the heart of ACE's work. We are closing our campaign in TWO days! That’s two days left for you to invest in ACE and put your money where your values are!
As a mission-driven energy services company providing comprehensive green retrofits to low-income housing, ACE has completed important work over the past few years. Happily, ACE just obtained a commitment for a $3 million financing commitment for our $6 million California project. But it has been a long haul and we still need to increase our working and growth capital. We hope you will continue to be part of the ACE family. Your support, both emotionally and monetarily, is greatly appreciated. Our minimum investment amount is only $250, but please give more if you can.
Feel free to leave us a comment if you have any questions.
ACE appreciates your support.
Sincerely,
The ACE Team
01.16.18
Dear investors and followers,
We have tremendous news to report: ACE has found its financial partner! As a result, we will be able to deliver meaningful sustainable benefits to approximately 6,000 units of low-income housing and the odds that this investment will be financially rewarding have greatly increased.
The Loan Committee of the Reinvestment Fund has approved a $3 million loan to ACE that will allow us to complete the comprehensive retrofit of approximately 90 multifamily affordable housing properties owned by Mercy Housing in California.
This loan approval will have several game-changing impacts:
We are extremely excited about 2018 and beyond as a result of this news. For those of you who have invested in ACE, we thank you for your support; we couldn’t have gotten here without you. And for those of you who haven't, we welcome you to be part of ACE's future. Please consider investing in ACE and share this opportunity with people who have the same passion as us. We appreciate your help.
For more details about the loan approval, please read at www.affordablecommunityenergyservices.com/unique-3-million-loan-benefits-low-income-families-environment/.
Sincerely,
ACE Team
01.10.18
Happy New Year investors!
At the beginning of this year, ACE has a list of exciting news to share with you. And here is the first one:
ACE has become a new member of the U.S. Department of Energy (DOE) Better Buildings Residential Network, which connects energy efficiency programs and partners to share best practices and learn from one another to increase the number of homes that are energy efficient.
ACE will benefit immediately by receiving access to monthly topical calls with peers about residential energy efficiency strategies. Calls have discussed business partners and workforce development, marketing and outreach, evaluation and data collection, financing, moderate- and low-income markets, and so on.
Joining the Network will provide ACE more opportunities to establish itself in the energy efficiency industry and to jointly work with other organizations to make affordable housing affordable and the planet livable.
For more details, please read the press release at: https://www.affordablecommunityenergyservices.com/affordable-community-energy-services-company-joins-doe-residential-network/
12.20.17
[The following is an automated notice from the StartEngine team].
Hello!
As you might know, Affordable Community Energy Services Company (ACE) has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Affordable Community Energy Services Company (ACE) be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
12.06.17
Recently, with the help of our investors, we passed our initial goal of $10,000! We thank you for supporting our mission.
Still there's plenty of work to do.
If you haven't invested yet, please consider doing so.
If you have invested, please spread the words for us and urge your friends to do so, too.
Doing good to the low-income housing communities and our environment requires a lot more than what we have now.
And there are less than 2 months left for our campaign.
We need your help more than ever!
11.14.17
Welcome to our new investors and followers. To all of you, thank-you for supporting ACE’s mission to help low-income housing communities and to protect the environment! Now that you are part of ACE's movement, we want to keep you updated on our work:
• Crowdfunding Progress, but a Long Way to Go. After launching our crowdfunding campaign, we've received additional investments and commitments of almost $20,000 from more than 15 investors. We are still waiting for some investors to finalize their investments on the StartEngine platform, but with all the commitments, we are exceeding the minimum funding goal set with the platform. But this was an arbitrary minimum, we have as our goal to raise between $200,000 and $500,000 to provide the additional liquidity that will be required as ACE moves on to new projects.
• Term Sheet with A Project Lender. The good news is that we have signed a Term Sheet with the Reinvestment Fund to provide the project loan for the $5.5 million Mercy California Project. While we still have details to iron out, RF is aiming for a loan committee meeting in late November. We are working diligently, and hope to close the loan by early in 2018.
• More Visibility for ACE’s Work. ACE has been cited as an industry pioneer, tapping into social impact investors like you to help fund energy efficiency for low-income housing. Check out the press coverage here.
We are very positive about our progress in our core business and in the preliminary results of our crowdfunding campaign, but we still have an urgent need to raise additional funds to provide the liquidity required to strengthen ACE’s balance sheet. This will help us reach more low-income individuals and families and to grow our business.
Please join us in the cause and share your support with those whom you think our mission might resonate. And if you haven’t yet invested, please do so now.
Thank you for being part of GOOOD to the Power of ThreeTM.
0/2500
Cancel anytime before 48 hours before a rolling close or the offering end date.
We want you to succeed and get the most out of your money by offering rewards and memberships!
Your info is your info. We take pride in keeping it that way!
Invest in over 200 start-ups and collectibles!
With Regulation A+, a non-accredited investor can only invest a maximum of 10% of their annual income or 10% of their net worth per year, whichever is greater. There are no restrictions for accredited investors.
With Regulation Crowdfunding, non-accredited investors with an annual income or net worth less than $124,000, are limited to invest a maximum of 5% of the greater of those two amounts. For those with an annual income and net worth greater than $124,000, he/she is limited to investing 10% of the greater of the two amounts.
At the close of an offering, all investors whose funds have “cleared” by this time will be included in the disbursement. At this time, each investor will receive an email from StartEngine with their Countersigned Subscription Agreement, which will serve as their proof of purchase moving forward.
Please keep in mind that a company can conduct a series of “closes” or withdrawals of funds throughout the duration of the campaign. If you are included in that withdrawal period, you will be emailed your countersigned subscription agreement and proof of purchase immediately following that withdrawal.
StartEngine assists companies in raising capital, and once the offering is closed, we are no longer involved with whether the company chooses to list shares on a secondary market, or what occurs thereafter. Therefore, StartEngine has no control or insight into your investment after the close of the live offering. In addition, we are not permitted to provide financial advice. You may want to contact a financial professional to discuss possible investment outcomes.
For Regulation Crowdfunding, investors are able to cancel their investment at any point throughout the campaign up until 48 hours before the closing of the offering. Note: If the company does a rolling close, they will post an update to their current investors, giving them the opportunity to cancel during this timeframe. If you do not cancel within this 5-day timeframe, your funds will be invested in the company, and you will no longer be able to cancel the investment. If your funds show as ‘Invested’ on your account dashboard, your investment can no longer be canceled.
For Regulation A+, StartEngine allows for a four-hour cancelation period. Once the four-hour window has passed, it is up to each company to set their own cancelation policy. You may find the company’s cancelation policy in the company’s offering circular.
Once your investment is canceled, there is a 10-day clearing period (from the date your investment was submitted). After your funds have cleared the bank, you will receive your refund within 10 business days.
Refunds that are made through ACH payments can take up to 10 business days to clear. Unfortunately, we are at the mercy of the bank, but we will do everything we can to get you your refund as soon as possible. However, every investment needs to go through the clearing process in order to get sent back to the account associated with the investment.
Both Title III (Regulation Crowdfunding) and Title IV (Reg A+) help entrepreneurs crowdfund capital investments from unaccredited and accredited investors. The differences between these regulations are related to the investor limitations, the differing amounts of money companies are permitted to raise, and differing disclosure and filing requirements. To learn more about Regulation Crowdfunding, click here, and for Regulation A+, click here.
Important Message
IN MAKING AN INVESTMENT DECISION, INVESTORS MUST RELY ON THEIR OWN EXAMINATION OF THE ISSUER AND THE TERMS OF THE OFFERING, INCLUDING THE MERITS AND RISKS INVOLVED. INVESTMENTS ON STARTENGINE ARE SPECULATIVE, ILLIQUID, AND INVOLVE A HIGH DEGREE OF RISK, INCLUDING THE POSSIBLE LOSS OF YOUR ENTIRE INVESTMENT.
www.StartEngine.com is a website owned and operated by StartEngine Crowdfunding, Inc. (“StartEngine”), which is neither a registered broker-dealer, investment advisor nor funding portal.
Unless indicated otherwise with respect to a particular issuer, all securities-related activity is conducted by regulated affiliates of StartEngine: StartEngine Capital, LLC, a funding portal registered here with the US Securities and Exchange Commission (SEC) and here as a member of the Financial Industry Regulatory Authority (FINRA), or StartEngine Primary, LLC, a broker-dealer registered with the SEC and FINRA/SIPC . You can review the background of our broker-dealer and our investment professionals on FINRA’s BrokerCheck here. StartEngine Secondary is an alternative trading system regulated by the SEC and operated by StartEngine Primary, LLC, a broker dealer registered with the SEC and FINRA. StartEngine Primary, LLC is a member of SIPC and explanatory brochures are available upon request by contacting SIPC at (202) 371-8300.
Investment opportunities posted and accessible through the site are of three types:
1) Regulation A offerings (JOBS Act Title IV; known as Regulation A+), which are offered to non-accredited and accredited investors alike. These offerings are made through StartEngine Primary, LLC (unless otherwise indicated). 2) Regulation D offerings (Rule 506(c)), which are offered only to accredited investors. These offerings are made through StartEngine Primary, LLC. 3) Regulation Crowdfunding offerings (JOBS Act Title III), which are offered to non-accredited and accredited investors alike. These offerings are made through StartEngine Capital, LLC. Some of these offerings are open to the general public, however there are important differences and risks.
Any securities offered on this website have not been recommended or approved by any federal or state securities commission or regulatory authority. StartEngine and its affiliates do not provide any investment advice or recommendation and do not provide any legal or tax advice with respect to any securities. All securities listed on this site are being offered by, and all information included on this site is the responsibility of, the applicable issuer of such securities. StartEngine does not verify the adequacy, accuracy or completeness of any information. Neither StartEngine nor any of its officers, directors, agents and employees makes any warranty, express or implied, of any kind whatsoever related to the adequacy, accuracy, or completeness of any information on this site or the use of information on this site. See additional general disclosures here.
By accessing this site and any pages on this site, you agree to be bound by our Terms of use and Privacy Policy, as may be amended from time to time without notice or liability.
Canadian Investors Investment opportunities posted and accessible through the site will not be offered to Canadian resident investors. Potential investors are strongly advised to consult their legal, tax and financial advisors before investing. The securities offered on this site are not offered in jurisdictions where public solicitation for offerings is not permitted; it is solely your responsibility to comply with the laws and regulations of your country of residence.
California Investors Only – Do Not Sell My Personal Information (800-317-2200). StartEngine does not sell personal information. For all customer inquiries, please write to contact@startengine.com.
StartEngine’s Reg A+ offering is made available through StartEngine Crowdfunding, Inc. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. For more information about this offering, please view StartEngine’s offering circular and risk associated with this offering.