BETHESDA, MD — A Bethesda-based company that focuses on development and improving lives around the world has raised more than $7.5 million in a private equity offering, according to a filing Monday with the Securities and Exchange Commission.
DAI Global LLC raised $7,507,981 in equity of the total offering of $9,499,924 from 76 investors.
The form was signed by Michael Jakobowski, James Boomgard, Helle Weeke, Elizabeth Nelson, Daniel Heaney, Marwan Juma, Maria Otero, Gail Steinel, Jean Gilson, Christopher LeGrand, Christopher Lockett, Zan Northrip and Laura Viehmyer.
The company, formed in 2015, is categorized as a business services firm and employs about 3,000 people around the world with 70 percent being local staff. The company has offices in over 150 locations around the world.
DAI was incorporated in 1970 as Development Alternatives Inc. as the founders wanted to change the way development happens.
According to the website, the company “tackle(s) fundamental social and economic development problems caused by inefficient markets, ineffective governance, and instability. And we do this by bringing together fresh combinations of expertise and innovation across multiple disciplines—crisis mitigation and stability operations, democratic governance and public sector management, agriculture and agribusiness, private sector development and financial services, economics and trade, HIV/AIDS and disease control, water and natural resources management, and energy and climate change.”
DAI is strict with ethical and compliance standards for all related laws and regulations. The company offers solutions to problems around the world in digital, environment and energy, corporate sustainability, economic growth, governance, health and stability.
This is a new notice with the first date of sale on March 1. The offering is not intended to last more than one year.
None of the money will go toward executive salary, and the offering is not being made in conjunction with a business combination transaction. The minimum investment accepted from any outside investor is $500.
The company claimed a Rule 506 (b) exemption for the filing. Companies relying on the Rule 506 exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.
This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism