Fundings: Durham's All About Beer, Charlotte's Otterplan raise cash
Chapel Hill, N.C. — Funding news as reported by North Carolina Business News Wire:
- Durham-based All About Beer raises $125,000
By Addison Lalier
DURHAM, N.C. — All About Beer LLC has raised $125,000 by selling equity and options, according to a filing with the Securities and Exchange Commission. The company plans to raise $875,000 more.
The Durham, North Carolina-based magazine publication sold the securities on March 2 and intends to raise a total of $1 million.
An estimated $25,000 of the proceeds will be used for executive payments.
All About Beer Magazine is a publication under All About Beer LLC, led by president Christopher Rice.
In 2014, Daniel Bradford, president of Chautauqua Inc., sold All About Beer Magazine to Rice after maintaining ownership for 22 years.
The magazine currently produces six editions each year and presents World Beer Festivals and special events across the United States.
The company is headquartered in Durham and maintains editorial offices in New York and San Francisco.
- Charlotte-based Otterplan raised $120,000
By Ryder Smith
CHARLOTTE, N.C. – A Charlotte, North Carolina-based company sold $120,000 in debt and equity, according to a Securities and Exchange Commission filing. The total filing is for $170,000.
Otterplan Inc. filed the Form D on Feb. 28. It plans to use the proceeds for salary payments.
Otterplan is a professional-to-professional referral platform built for wedding professionals in North Carolina.
Lisa Huber Ganderson is the CEO of Otterplan. Huber was a senior associate with GE Ventures before becoming the CEO of Otterplan.
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.
Note: This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism
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