A Raleigh, North Carolina-based liquor company has raised $745,000 in a private equity offering, according to a filing with the Securities and Exchange Commission.

Lonerider Spirits LLC filed a form D on Nov. 19. The company will use the money for payments of salaries and other compensation and benefits. Other than for this purpose, no manager, representative, officer, director or promoter will receive any of the proceeds of this offering.

The sister company of Lonerider Brewing Co. launched in May 2018 after three years of planning, the company’s website says. Lonerider Spirits also launched its first spirit that month, a bourbon whiskey. This product was released in fall 2018 across North Carolina in ABC Stores and restaurants and bars.

The company is ran by President Chris Mielke who served as Lonerider Brewing’s vice president of business development.

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.