CHARLOTTE — A Charlotte-based enterprise security service provider has raised $478,000 through a private equity offering, according to a Securities and Exchange Commission filing.
ThreatSwitch Inc. intends to raise $1.15 million in total through this equity offering. It has currently raised 41.5 percent of that number, and will need to raise $672,000 more to reach its goal.
The company filed the Form D on May 7. ThreatSwitch’s first sale of these securities occurred April 23.
The equity offering was sold to five different investors, according to the filing. ThreatSwitch accepted a minimum investment of $25,000.
ThreatSwitch plans to use $50,000, or 4.3 percent, of the total equity offering as compensation for founder and CEO John Dillard. That number is based on whether the company can reach its goal of raising $1.15 million.
ThreatSwitch
Dillard, a former Naval officer and CIA intelligence officer, founded ThreatSwitch in February 2016. The ThreatSwitch Platform is a software program meant to help companies maintain compliance with federal requirements, such as employee trainings and security inspections.
The company also provides cybersecurity services that help companies and federal contractors become compliant with federal regulations, such as insider threat programs.
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.
This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism
