A company affiliated with Milwaukee-based Sellars Absorbent Materials Inc. is raising $2.2 million in debt, options and securities, according to a new SEC filing.
The filing indicates Sellars Mezz Debt Investors LLC has so far raised $800,000 from two investors. The round began July 19.
Tom Sellars, chairman and chief executive officer of Sellars Absorbent, said the company has expanded its financing with its banks, and the $2.2 million is part of that financing, to be used for growth capital for expansion. The debt markets are attractive right now, he said.
“It’s general corporate purposes for growth,” Sellars said. Read the full story here.