The investment banking division at Cary Street Partners is trying to raise $7.5 million in a private placement equity sale.
They’ve raised $1.5 million so far from two investors, according to a filing with the U.S. Securities and Exchange Commission.
It’s unclear what exactly the funds are for. The firm has not filed any paperwork with the State Corporation Commission’s department of securities.
Tom Tullidge, a managing director at Cary Street, said that SEC regulations prevent the company from talking about the process for now.
The firms started the sale Nov. 13, according to the filing.
