Maine companies continue to raise money actively, filing Form Ds with the U.S. Securities and Exchange Commission for equity or debt offerings. There were 38 filings through early October of this year compared with 44 for all of 2013.Companies must file a Form D to use an exemption to offer and sell securities without having […]
Get Instant Access to This Article
Subscribe to Mainebiz and get immediate access to all of our subscriber-only content and much more.
- Critical Maine business news updated daily.
- Immediate access to all subscriber-only content on our website.
- Bi-weekly print or digital editions of our award-winning publication.
- Special bonus issues like the Mainebiz Book of Lists.
- Exclusive ticket prize draws for our in-person events.
Click here to purchase a paywall bypass link for this article.
Maine companies continue to raise money actively, filing Form Ds with the U.S. Securities and Exchange Commission for equity or debt offerings. There were 38 filings through early October of this year compared with 44 for all of 2013.
Companies must file a Form D to use an exemption to offer and sell securities without having to register the offering with the SEC. The form is a brief notice including basic information about the company and the offering.
Here are the 11 Form D filings since July from the formsd.com website.
Most recently, Tilson Technology Management Inc., a Portland-based telecommunications company, filed a Form D showing it raised $250,000 of a total $2 million equity offering. Named in the filing are directors Joshua Broder, Nathaniel Henshaw, Jill McGowan, Gary Merrill, Doug Morrell and Executive Officers Chad Flynn and Garrett Grunewald.
Novia Products LLC, also of Portland, is developing a scent dispersion prototype using polymer foams. It sold $45,000 of a $500,000 debt offering. Listed on the offering are Peter Van Alstine, executive officer and director, and William Webster, director.
Hyperlite Mountain Gear Inc., a Biddeford maker of lightweight outdoor equipment, sold $908,871 of a $1 million equity offering. Named in the offering is Executive Officer and Director Michael St. Pierre.
Title Alliance of Maine LLC, a Portland title insurance company, sold $23,800 of a $40,000 equity offering. Named in the filing is Jim Campbell, executive officer and promoter.
Resort-based sports program network Outside Television Inc., based in Portland, sold all of its $3 million offering that was a mix of debt; option, warrant or other right to acquire another security; and security to be acquired upon exercise of option, warrant or other right to acquire security. Named in the filing are directors Mark Burchill, Tom Burchill, Lawrence Burke, Leonard Conway, David Cumming and John Cumming.
Baja Aquaculture Inc. of Morrill sold $5.34 million of a $10.04 million equity offering. Named in the offering are directors Glenn Flanders, Robert Orr and Lorenzo Juarez, along with Executive Officer Frank Fay.
Also filing Form Ds where the offering is not yet selling are venture capital fund North Atlantic Venture Fund V, L.P., of Portland, which is seeking $50 million in pulled investment fund interests in multiple states; Double Blue Sports Analytics Inc., an Orono-based sports software and analytics company, which has filed a $500,000 debt offering that is convertible into equity, $50,000 of which has been or is proposed to pay executive officers, directors or promoters; Tide Creative, a Portland-based marketing and app-building company, which is seeking $200,000 in a debt offering that is convertible into equity, $27,00 of which has been or is proposed to pay executive officers, directors or promoters; Orono Spectral Solutions Inc., a Bangor-based chemical and biological agent detection company, which is seeking to sell $768,000 in equity and Series A preferred stock; and finally, Northern Girl LLC, a Van Buren-based food service company that sells Maine-raised produce, which is seeking about $150,000 in an equity financing that might be increased.