A North Carolina-based audiobook publishing business has filed to raise $250,000, according to a filing with the Securities and Exchange Commission.
Spoken Word Inc. filed a Form D with the SEC earlier this month. The filing listed a total offering amount of $250,000, which the company hopes to raise through an “investment contract,” which would provide investors with the right to a stream of royalties, Spoken Word said.
The money hasn’t been raised, yet, and the minimum investment being accepted is $2,500, the Form D said. No other details were provided regarding the use of money raised through this offering.
Spoken Word describes itself as a tech company and a “vehicle” that helps writers publish their stories in a unique format.
“We believe in producing stories that are gutsy and innovative. We’re all in this together, and that’s pretty darn cool,” its website reads.
Ben Matcher, founder and president of the business, signed off on the Form D.
Private companies similar to Spoken Word, which rely on a Reg D exemption, aren’t required to register securities offerings with the SEC, but instead they must file a Form D electronically with the SEC after they sell the securities.
Note: This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism.