RALEIGH — Capstone Event Group LLC has raised slightly more than $2 million by selling both debt and equity in two separate offerings, according to the Securities and Exchange Commission on Wednesday.
The company has raised $671,000 in an equity offering with $4.2 million remaining to be sold for a total of $4.9 million. The $671,000 was raised by eight investors with the date of the first sale near the end of February.
Originally Capstone filed a debt offering for $1.25 million in October 2017, selling $1.1 million of that offering.
In an amended filing, the company disclosed that it had raised $1.42 million in the debt offering with $30,000 remaining to be sold for a total of $1.45 million. The $1.42 million was raised by 10 investors with the date of the first sale in October 2017. The amended file can be found here.
Neither filing disclosed what the company plans to do with the money.
The Raleigh-based company operates running races, such as marathons, throughout the Carolinas and New York. Capstone operates races such as the Bull City Race Fest and the Charleston Marathon while serving over 110,000 runners annually.
John Kane founded Capstone in 2011 and also acts as a chairman and CEO of the company. Kane graduated from North Carolina State University in 2007 where he majored in sports management and lettered on the football team.
Kane serves as a member of the North Carolina State Ports Authority Board of Directors and as a public member of the North Carolina State Bar Disciplinary Hearing Commission.
Capstone’s next race will be the Tar Heel Ten-Miler, which is set to take place on April 13 in Chapel Hill, North Carolina.
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.
This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism