Category: Private placement (page 1 of 5)

Rockville-based biopharmaceuticals company raises $23.6 million

ROCKVILLE, MD — A clinical-stage biopharmaceuticals company raised $23.6 million by selling 1.1 million shares to an investor, according to a filing with the Securities and Exchange Commission.

MacroGenics Inc. entered the agreement with an investor not affiliated with the company on April 26. The shares were offered at $21.50 per share. The closing of the offering is expected to occur on May 2. No underwriter or agent was used.

Founded in 2000, the company focuses on discovering and developing innovative monoclonal antibody-based therapeutics for the treatment of cancer, autoimmune disorders and infectious diseases.

On its website, the company has eleven products listed in its pipeline and three platforms. It has several strategic collaborations with global pharmaceutics and biotechnology companies through its technology platforms and protein engineering expertise.

Senior Vice President and General Counsel Atul Saran signed the filing April 26. The filing can be found here.

MacroGenics was trading at $21.94, up 26 cents, on Thursday morning.

This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism

Takoma Park-based start-up brewery seeks to raise $700,000

TAKOMA PARK, MD — A start-up brewery has raised $140,000 from four investors, according to a filing with the Securities and Exchange Commission. MDBW-logo-draft-yellow-whitebg

Parallel World Brewing Co. filed the Form D on April 25. The first sale occurred on April 10, and the company plans to raise a total of $700,000. The minimum investment accepted from any outside investor is $14,000.

The company does not intend this offering to last more than one year, and it is not being made in connection with a business combination transaction.

The company has two trademarks, which can be found here.

Christian Layke, chief executive officer, signed the Form D. He was head brewer at Gordon Biersch Brewery Restaurant for eight years before co-founding Parallel World Brewing in March 2017.

The Form D can be found here.

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

Baltimore-based architectural company files to raise over $600,000

BALTIMORE, MD — A Maryland-based architecture firm filed to raise over $600,000 in equity, according to a filing with the Securities and Exchange Commission.images

Baltimore-based Hord Coplan Macht filed a form D signed by Edward Hord, Lee Coplan, Carol Macht, Christoher Harvey, Jim Albert, Christopher Schein, Monica Robertson, Wirt Winebrenner, James Pedler, Adele WIillson and Jennifer Cordes on April 24.

Hord Coplan Macht is an architecture, landscape architecture, planning and interior design firm that focuses in environmental sensitivity. According to the website, 60 percent of its staff has LEED accreditations. The company specializes in multifamily, health care and education.

The company, formed in 1977, has three offices in Baltimore, Denver and Washington and employs over 230 people in the U.S.

The total filing says the firm seeks to raise $614,522. This is a new notice with the first date of sale yet to occur as the company has not sold anything yet.

This offer is not being made in connection with a business combination transaction and the minimum investment accepted from any outside investor is $11,529.

None of the money raised will be used for payment to executive directors other than the payments of the salary in the ordinary course of business to certain of the parties listed on the filing.

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

Old Line Spirits in Baltimore has raised $290,000

Old Line Spirits

BALTIMORE, MD.– A Baltimore, Maryland-based liquor distillery has raised $290,000 in debt, according to a Securities and Exchange Commission filing.

Old Line Spirits filed the Form D on April 20. It did not disclose what it intended to do with the proceeds.

Old Line Spirits is a craft distillery located in Baltimore, Maryland, offering whiskey made of 100 percent malted rye.

Mark McLaughlin and Arch Watkins acquired Golden Distillery, located in Seattle, Washington, from Bob Stilnovich. McLaughlin and Watkins moved what is now Old Line Spirits to Baltimore.

Companies relying on a Reg D 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 securities.

The form can be found here.

This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism

Medical tech company Vasoptic Medical raises $1.5 million

VasopticBALTIMORE, MD — Vasoptic Medical Inc., a Baltimore-based medical technology company, raised $1.5 million in a private equity offering, according to a filing with the Securities and Exchange Commission.

Vasoptic Medical filed a Form D on April 7. It did not disclose what it intended to do with the proceeds.

The company was founded in 2012 by M. Jason Brooke and Abhishek Rege based on technology developed by Rege while studying at Johns Hopkins University.

The technology is a portable retinal imager that examines retinal microvasculature and is making a significant impact on the prevention of vision loss associated with diabetes.

It has implemented its product in primary care and community clinics. It is  low-cost and easy to use technique that monitors the progression of various metrics that are commonly found in retinal diseases.

The Maryland Technology Development Corp. chose Vasoptic Medical for financial investment from the Life Science Investment Fund in 2016. Companies chosen by TEDCO are given an investment of up to $200,000 in order to advance their products commercialization.

This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism

 

Bethesda-based REIT First Potomac CEO’s compensation tripled in 2016

BETHESDA, MD – First Potomac Realty Trust CEO Robert Milkovich received $3.6 million in total compensation in 2016, up from a total of $978,000 in 2015, according to a filing with the Securities and Exchange Commission.

The CEO’s increase in compensation was driven primarily by a special equity award of 150,000 restricted common shares worth about $1.5 million.

CFO Andrew Blocher and General Counsel Samantha Gallagher each saw their total compensation more than double in 2016, also driven by awards of special equity.  First Potomac Realty Trust Logo

In total compensation, Blocher received $2.2 million in 2016, up from $987,000 in 2015, and Gallagher received $1.9 million, up from $812,000 in 2015.

Total compensation for executives at First Potomac is comprised of base salary, short and long term incentive compensation, and special equity awards.

In the past First Potomac has relied only upon base salary and incentive-based pay to retain executive talent.

In a proxy statement filed with the SEC, the company said that it has not made special equity awards in the past.

The company acknowledges that the significant jump in compensation “may appear outsized with respect to historical practices,” but maintains that the additional pay is necessary in light of increased responsibility.

The executives have had to take on more important roles in the company as leadership and strategic goals have changed dramatically in the past 18 months.

Milkovich was promoted in November 2015 from chief operating officer to the additional role of chief executive officer. He replaced Douglas J. Donatelli, one of the two founding partners, who resigned unexpectedly.

Donatelli had served as the company’s CEO since the company was founded by himself and Nicholas R. Smith in 1997. Smith also resigned from his position as chief investment officer in November 2015.

Donatelli and Smith resigned at a time when the company’s board wanted to implement significant strategic changes. The board sought to de-risk the portfolio, de-lever the balance sheet and maximize asset values.

In 2015 this strategy took the form of a $200 million reduction in underperforming assets, the proceeds from which were used to buy back shares.

The company also justified the special equity awards by the fact that they will vest over a five-year period in one-quarter increments, maximizing the potential for retention and long-term performance.

In 2016, Blocher received 75,000 shares of restricted common stock worth about $750,000, and Gallagher received 65,000 shares worth about $650,000.

All three executives saw their base salaries increase 2.75 percent for 2017.

In the fourth quarter of 2016 the company reported core funds from operations of 27 cents per share, beating the consensus expectation of 26 cents per share.

The company’s stock rose 7 cents to $10.59 in Friday afternoon trading.

This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism

Bethesda-based Bayshore Networks raises $11 million

BETHESDA, MD — An industrial-strength cybersecurity platform company raised $11 million from 14 investors, according to a filing with the Securities and Exchange Commission.  bayshore-networks inc

Bayshore Networks Inc. filed the Form D on April 6. The the first sale occurred on April 20, 2016. The company does not expect the offering to last more than one year, and the offering is not being made in connection with a business combination transaction.

The company develops cybersecurity software for the industrial Internet of things. It deploys a cloud-based program, Bayshore IT/OT Gateway, which enables secure transactions in manufacturing operations, robotics automation and M2M communications. Founded in 2012, it has strategic partnerships with companies such as BAE systems, Cisco, SAP and VMware.

Bob Lam, co-founder and vice president of finance and corporate development, signed the Form D on April 6.

The company claimed a Rule 506 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 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

TRX Systems raises $400,000 in equity

TRXGREENBELT, MD — A Maryland-based security technology company raised $400,000 in a private equity offering, according to a filing with the Securities and Exchange Commission.

TRX Systems Inc. provides mapping and personnel location in areas where GPS is not available. It is the first company to use sensor fusion and dynamic mapping to pinpoint location indoors.

According to the Form D, proceeds will be used for working capital which will include normal compensation to executive officers and managers.

The offering is not being made in connection with a business combination transaction, and is not intended to last more than one year.

TRX Systems, founded in 2001, is the developer of the NEON Indoor Location Solution and the NEON Personnel Tracker.

On Feb. 27, the company announced in a press release that the NEON Personnel Tracker application was used by the Houston Police to help ensure public safety in NRG Stadium for Super Bowl LI.

The company has a large portfolio including 12 patents issued in the U.S., 15 internationally and 24 pending.

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 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

Annapolis-based health care diagnostics company raises $350,000

Screen Shot 2017-04-02 at 9.21.36 PMANNAPOLIS, MD — A diagnostics company raised $350,000 from one investor, according to a filing with the Securities and Exchange Commission.

xMD Diagnostics filled the Form D on March 29. The first sale occurred Jan. 20, and the company plans to raise $175,000 more. The offering is not being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer.

An estimated $35,000 of the proceeds will be used as payments to executive officers, directors or promoters.

xMD Diagnostics develops proprietary automated instruments and kits for microdissection pathology and molecular diagnostics applications.

Ting Pau Oei, founder and board member of xMD Diagnostics, signed the Form D on March 29. He is managing and founding partner at Fox Feather Ventures, a venture capital advisory firm specializing in health care.

Companies relying on a Reg D 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 securities.

This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism

Cumberland-based Moose Curve Holdings seeks to raise $1 million

CUMBERLAND, MD – A Cumberland, Maryland based company is seeking to raise $1 million by selling shares in a private stock offering, according to a Securities and Exchange Commission filing.MDBW-logo-draft-yellow-whitebg

Moose Curve Holdings filed the Form D on March 28. It did not disclose what it intended to do with the proceeds.

The company is owned and operated by Greg Pappas, who is president of Alliance Publishing and Marketing.  Before that, he was president of Allegany Marketing.

Companies relying on a Reg D 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.

The form can be found here.

This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism

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