BREVARD — Gaia Herbs, Inc., a Brevard, North Carolina-based herbal supplements company, has raised $40.3 million from private investors.
According to the Form D filed Tuesday, Gaia Herbs must collect over $8 million in addition to sell its entire offering of $48.3 million. It did not specify how the company intends to use the proceeds.
The company also raised $20.8 million in 2016.
Gaia Herbs’ products are nationally distributed and have been featured in top health publications including Women’s Health and Shape. It was ranked among Real Leader Magazine’s “Top 100 Impact Companies.”
It is B Corporation certified as of November 2018.
Gaia Herbs was founded in 1987 by current CEO Richard Scalzo, who was interested in developing natural, customizable medical treatments. He studied neuropathic botanical medicine at Bastyr University in Seattle and has co-authored various books on natural healing.
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.
The form can be found here.
This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism