Two former North Carolina State University football players filed to raise $200,000 in equity for their sports product company Gryppers Inc., according to a Securities and Exchange Commission filing.
The form was filed on Aug. 30.
The company has raised $150,004 from two investors. The amount is $49,996 less than the total offering.
- Video: Watch an introductory video about Gryppers at: https://www.youtube.com/watch?v=ToKfq_qyPXY
Gryppers produces finger grips that are a cross between athletic tape and football gloves. Founders Jamelle Eugene and DaJuan Morgan met playing football. While captain of the Wolfpack, running back Eugene earned his bachelor’s degree in sports management with an emphasis in entrepreneurship.
Eugene, 29, and Morgan, 30, are getting help from N.C. State’s College of Textiles and the Poole Entrepreneurship Clinic. In early June, the company received a $50,000 grant from the NC Idea Foundation to help take the product to market.
Gryppers claimed a Rule 506 (b) exemption. 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.
Note: This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism
