TECHdotMN: News about Minnesota Startups

Zipnosis signals intent to raise two million dollars

July 12, 2010 | by Jeff Pesek Comments

Minneapolis-based Zipnosis, an “on the go” provider of remote diagnosis and treatment solutions for individuals suffering from basic health ailments, recently filed notice that the company aims to raise up to $2m in investment capital.

While the SEC Form D (Notice of Exempt Offering of Securities) filed on June 25th indicates that only $62.5k has been raised to date in this offering, securities attorney Michael Schley of Larkin Hoffman explains that  “It’s not uncommon for startup companies to file their Reg D exemption notices early in their funding cycle, sometimes even before the first sale.  Although an issuer must file amendments upon certain material changes, sales up to the stated amount do not require such a filing and the Form D will suffice for a period of up to one year while the issuer completes its offering.”

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