A Dunn-based limited liability investors group has raised $5.89 million in equity, according to a Securities and Exchange Commission filing.

McGill Investors LLC filed the form D on Dec. 1. Of the $5.89 million, $105,000 will be used for a consulting fee for prior work and $125,000 for five-year consulting agreement.

McGill Investors was founded in August 2016. Clark Wooten, James Freeman and Ricky Novak are listed as managers of the company in the filing.

The same managers raised $2.2 million last month for another group called Timothy Investors, North Carolina Business News Wire reported.

Bridge Capital Associates Inc., a middle market investment banking firm, received $1,016,800 for sales commission.

Companies relying on a Reg D exemption do not have to register securities offerings with the SEC, but must file a Form D electronically with the SEC after they first sell securities.

The McGill Investors filing can be found here.