Nanotech firm Protochips raises $2M, wants $5M more

MORRISVILLE, N.C. — Nanotechnology company Protochips Inc. hopes to raise $7.1 million, according to a filing Friday with the Securities and Exchange Commission.

The Morrisville-based company has already raised $2,042,275 in the form of equity. The first sale occurred on Nov. 22.

The filing did not reveal what the company intends to do with the proceeds. There is still $5,071,955 that Protochips wants to raise.

Protochips was founded in 2002, and it has been led by co-founder and Chief Executive Officer David Nackashi since then.

The focus of the company is in creating holders for electron microscopy in order to provide higher resolution of nano-structures for researchers and scientists.

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 the UNC-Chapel Hill School of Media and Journalism.