Lucid Drone Technologies, a Davidson-based company, sold $50,000 in debt and plans to raise a total of $500,000, according to a Securities and Exchange Commission filing.

Lucid Drone Technologies filed the Form D on Sept. 19. It did not disclose what it intended to do with the proceeds.

The company specializes in technology that allows multi-storied buildings to be cleaned quickly and efficiently. It offers commercial building cleaning and window washing as well as home and roof washing.

The founders of Lucid Drone Technologies began developing the prototype of their drone in Fall 2017 and are currently continuing developing the cleaning capabilities of the model.

Andrew Ashur is CEO of Lucid Drone Technologies and graduated from Davidson College in May 2018. The entire executive staff is made up of recent and future Davidson graduates.

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.

The form can be found here.