RALEIGH – Sprout2, the business entity behind the re-formed Sprout Pharma, disclosed in an SEC filing that the firm has now raised $25,069,129 in debt funding since November 2020 when the company opened its latest fundraising round.

WRAL TechWire reported last year that the company had raised $12 million and had reported 100% growth.

The latest SEC filing is an amended filing, and the amount disclosed is inclusive of the prior funds raised on the round.

So far, 85 investors have participated, according to the filing, which was signed by the company’s CFO, Matthew Petzold, yesterday.

According to the filing, some $1,142,000 of the proceeds from “may be used for normal payroll and benefits costs of officers who are also employees of the Issuer.”

In total, the filing states that the company’s offering could reach $27 million.

Raleigh’s Sprout Pharma has raised $12M, seeing over 100% growth, says CEO

In a 2021 amended filing, the company disclosed the round would be capped at $18 million.  CEO Cindy Eckert previously told WRAL TechWire that the round includes convertible notes with existing shareholders.  The original filing in 2020 set an offering amount of $10 million.

The company also raised $15.9 million in equity in 2019, and $4.5 million in 2018.

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