September 3, 2014

BoomTown sells $20.1 million in security offerings, according to SEC filings

Liz Segrist  /  Charleston Regional Business Journal

Downtown Charleston-based BoomTown recently sold $20.1 million in equity securities, according to a Form D filing with the Securities and Exchange Commission.

The software firm, which creates Web-based software for real estate professionals, began the offering on July 25, according to a July 29 filing. The firm filed an amended form on Aug. 29 noting that all the securities have been sold.

Companies may use an exemption under Regulation D to offer and sell securities without having to register the offering with the SEC, the commission said. The Form D is a brief notice that includes basic information about the company and the offering.

According to the filing, $10 million of the gross proceeds is proposed to be used for payments to people required to be named as executive officers, directors or promoters.

BoomTown said this morning that it had no comment on the offerings.

Founded in 2006, BoomTown provides an online marketing system for real estate professionals including a real estate website with local multiple listing service data, online advertising, marketing services and a customer relationship management system.