Business

Vaping company Kure files to raise $5 million

In this 2014 file photo, a casino patron exhales vapor from an e-cigarette in Las Vegas.
In this 2014 file photo, a casino patron exhales vapor from an e-cigarette in Las Vegas. NYT

A North Carolina-based vaping company has filed to raise $5 million in a private stock offering, according to a filing with the Securities and Exchange Commission.

Kure Corp. filed a Form D with the SEC on Oct. 31. The filing listed a total offering amount of $5 million, with no money raised nor any investors involved, yet.

No other details were mentioned in the filing regarding the company’s use of the proceeds, but Kure said the offering won’t last for more than one year.

Kure manufactures and distributes vaporizing pens, e-juices and related accessories. It offers its products online and through its branded stores, and Kure also operates juice bars and lounges. Kure was incorporated in 2014 out of Mooresville.

Back in April, Kure announced it was opening three new franchise stores. At the time, Kure had just opened five corporate stores and had multi-unit development deals pending in six states, making it one of the fastest growing, vape franchises in the U.S., its website said.

Kure has said the company is on target to open at least one new store per month throughout the remainder of 2016.

Craig Brewer, chief executive officer of Kure Corp., signed off on the firm’s Form D on Monday.

Private companies similar to Kure, which rely on a Reg D exemption, aren’t required to register securities offerings with the SEC, but instead they must file a Form D electronically with the SEC after they sell the securities.

The form can be found here.

This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism

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