Concussion management company SportGait Inc., based in Wilmington, has raised $205,000 in a private equity offering, according to a filing this month with the Securities and Exchange Commission.
The firm raised the money from five investors.
SportGait is looking to raise an additional $695,000 to meet its goal of $900,000. The filing did not disclose what the money would be directly used for.
The company, which is an entity of LifeGait, uses its concussion management platform to provide tools and resources to identify, track and monitor concussion-related symptoms.
SportGait’s concussion management system includes three products — biokinetographs, a sideline coaches app, and a parent/athlete app.
Through SportGait’s applications, coaches and parents can determine whether an athlete’s head injuries warrant a visit to the doctor or emergency room.
The company, which was incorporated in 2015, is located in the University of North Carolina Wilmington Center for Innovation and Entrepreneurship.
The company is led by CEO Christopher Newton. According to Newton, the company is a “full concussion management system that can be used by everybody,” with the intent to “preserve the game while making it safer.”
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.
This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism.
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