Cutting Edge Spine, a spinal technology company located in Waxhaw, North Carolina, wants to raise $1.25 million through equity and options, according to a filing Wednesday with the Securities and Exchange Commission.

Cutting Edge Spine plans to use the proceeds to repay loans given to the company in the form of delayed payment of wages and financial loans.

An estimated $155,000 of the proceeds of the offering will go toward executive compensation.

The company has not sold any of the offering yet, no investors have invested in the offering. The minimum investment accepted from outside investors is $25,000.

Cutting Edge Spine develops and distributes new spinal technology. It currently has three proprietary technologies cleared by the Food and Drug Administration.

The company’s president and co-founder Randy Roof has nearly 25 years of orthopedic and biologic experience. Prior to co-founding Cutting Edge Spine, Roof served as president and founder of nuSpine Medical Technologies, founding and co-founding several other spine-related companies.

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.