Nanosys to Raise $15 Million in Private Equity Offering, It Says in SEC Filing

Quantum-dot materials supplier Nanosys expects to raise $15 million in a private equity offering that began Tuesday, said the company in a Form D SEC filing Thursday. Nanosys filed the form under Rule 506(b) that exempts companies from registration rules under certain conditions when they're selling stock. Privately held Nanosys declined to disclose its annual revenue on the form, which Chief Financial Officer Noland Granberry signed Wednesday, nor did it say how it plans to use the proceeds, but said none of the cash raised will go to any of the 15 executive officers and board members listed. The filing didn’t disclose who bought the stock and for how much but said all the buyers qualified as “accredited investors,” which federal law defines as those having some pre-existing relationship with the company, such as executive officers, board members or affiliated outside bankers. Nanosys didn’t comment Thursday. The company is “absolutely looking at liquidity options right now,” said CEO Jason Hartlove, when we asked at Display Week a year ago if there are any plans to take the company public (see 1705300060).