RALEIGH – A Raleigh, North Carolina-based specialty coffee company raised nearly $528,000 from a debt sale, according to a Securities and Exchange Commission filing.
Slingshot Coffee Co. filed the Form D on Thursday. The company said it will use the proceeds for payment of salaries and other compensations and benefits.
The company stated in the filing that it intends to raise a total of $630,000. Slingshot will need to raise an additional $102,074 to achieve that goal.
The company was founded in 2012 by Jenny and Jonathan Bonchak, who are also married. Jenny takes on the role of CEO and president, while Jonathan is Slingshot’s chief financial officer. The company’s website describes them as “national award-winning baristas.”
Slingshot uses only organic, in-season beans direct from the source to produce its coffee. The company also offers unique products aside from its signature cold brew, including a “coffee tonic,” which mixes the company’s cold brew with Jack Rudy Cocktail Co.’s signature tonic, and coffee caramel bites.
Its products are sold at retailers in more than 20 states throughout the Southeast and along the East Coast. The company’s coffee-based offerings can be found in Whole Foods Markets, Earth Fares, Targets and other independent businesses. Slingshot’s products are also available for online order through its website.
Companies relying on a Reg D exemption do not have to register their offerings 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.
The form can be found online.
This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism
