A Hillsborough-based local frozen food manufacturing company wants to raise $750,000, according to a Securities and Exchange Commission filing.
Seal the Seasons has raised $100,000 from one investor thus far. The offering was not made in connection with a business combination transaction, such as a merger, acquisition or exchange offer, according to the filing.
The first sale occurred Jan. 10, 2017, and the company does not intend this offering to last more than one year.
Founded in 2014, the local food brand markets locally grown and frozen fruits and vegetables in grocery stores. The company aims to empower farmers and consumers to support each during the full year through local frozen produce.
Seal the Seasons’ frozen produce are sold in businesses such as Harris Teeter, Lowes Foods, Whole Foods Market, Weaver Street Market and Ingles.
[VIDEO: Watch a video report about Seal the Seasons at https://www.youtube.com/watch?v=AwyqBz852xU ]
Patrick Mateer, the chief executive officer and co-founder of Seal the Seasons, graduated from UNC-Chapel Hill in 2015 after studying political science and economics, according to his LinkedIn. Seal the Seasons was launched during Mateer’s time at UNC-CH, where it was a venture supported by UNC’s Social Innovation Initiative.
Companies such as Seal the Seasons 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
