MORRISVILLE – An atmospheric plasma technology company based in Morrisville, is seeking to raise $1.3 million by selling options and warrants, according to a filing Thursday with the Securities and Exchange Commission.
Apjet
Apjet Inc. did not state in the filing what it intends to do with the money. The company raised more than $3 million in equity financing in March 2014.
Apjet is developing a fabric coating technology to be used in everything from combat wear to automobiles.
The Aptex plasma machine is Apjet’s industrial scale machine for finishing fabric. It is designed to handle all fabric constructions, including knits, wovens, nonwovens, pile materials and all polymer types such as cotton, wool, silk, nylon and polyester.
The company was founded in 2002 at Los Alamos National Laboratory in Santa Fe, New Mexico. In 2008, the company formed a development partnership with N.C. State University’s College of Textiles, where it operated until 2015.
Its current location is in the Research Triangle Park.
John Emrich is the president and chief executive officer. He joined Apjet in May 2007. He previously was the CEO and president of Guilford Mills Inc.
Emrich held many positions throughout the company in the apparel, automotive and fiber divisions. He has over 35 years of executive experience in the textile industry and has an MBA from Adelphi University in Garden City, New York.
Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must first 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
