Durham-based Mati Raises Another $2.5 Million

8/8/17

By Chris Roush, NC BIZ News

Energy drink company Mati Inc. has raised another $2.5 million in a private equity offering, according to a filing Tuesday from the Securities and Exchange Commission.

The offering raised money from 58 investors, according to the filing.

The Durham-based company said that other than the payment of salaries and other compensation and benefits, no executive will receive any payments from the proceeds of this offering.

Mati had raised $2.5 million in April and $2 million in August 2016, according to SEC filings.

The company was founded by former Duke University student Tatianna Birgisson. She made Inc.’s 30 Under 30 list in 2016.

Mati Energy drink is a blend of juices mixed with Guayusa, the second-most caffeinated plant behind coffee. Birgisson began making a version of the drink in her dorm room and went on to found her company in 2012.

Today, the company’s energy drinks are sold in more than 400 retail outlets in North Carolina, South Carolina, Georgia and Tennessee. It recently began selling in the Sam’s Club in Durham.

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.

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