Hillsborough’s Seal the Seasons Raises $160,000 in Debt

3/30/18

By Ana Irizarry, NCBIZNews

Seal the Seasons Inc. has raised $160,000 in debt, according to a filing with the Securities and Exchange Commission.

Seal the Seasons, a frozen food manufacturing company based in Hillsborough, did not disclose what it intended to do with the proceeds.

The company intends to raise $300,000, with $140,000 remaining to be sold. The money was raised through four investors, according to the filing. It previously raised $735,000 in a private debt offeringin November through 20 investors.

Seal the Seasons flash freezes local produce to enable small to mid-sized local farmers to market their produce in grocery stores year round.

The company’s products are currently available in various North Carolina stores, including Harris Teeter, The Fresh Market, Whole Foods Market, Ingles and Lowes Foods.

CEO and co-founder Patrick Mateer graduated from UNC-Chapel Hill in 2015. Founded in 2014, Seal the Seasons was a venture supported by UNC’s Social Innovation Initiative.

Companies such as Seal the Seasons relying on the Rule 506 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.

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