A Dunn, North Carolina-based company sold $2.28 million in a private equity offering, according to a Securities and Exchange Commission filing.

Timothy Investors LLC filed the form D on Nov. 22. Of the $2.28 million, $275,000 will be used for executive compensation. $150,000 will be used to pay consulting fees for prior work, and an additional $125,000 will be used for a five-year consulting agreement, according to the filing.

Bridge Capital Associates Inc, a middle market investment banking firm, received $393,600 for sales commission.

Timothy Investors was founded on May 31, 2016. Clark Wooten, James Freeman and Ricky Novak are listed as managers of the company in the filing.

Companies relying on a Reg D exemption, such Timothy Investors, do not have to register securities offerings with the SEC, but must file a Form D electronically with the SEC after they first sell securities.

The form can be found here.