CAPE MAY — According to a filing with the U.S. Securities and Exchange Commission, Fishermen’s Energy, a Cape May-based offshore wind developer, has closed on $2.5 million in debt and warrant offering.
A debt offering is offered for purchase by private investors – normally with warrants for future stock purchases at fixed prices. It is a way for companies to raise debt financing by selling notes with a set annual return rate and a schedule on when the payment will be made to investors. Using a debt offering, a company can avoid giving up ownership or future profit in the business.
Fishermen’s Energy is a consortium formed by the principals of East Coast fishing companies.
A total of 12 investors participated in the offering.
Principals named in the filing were: Daniel Cohen, president; Andrew Gould, vice president finance; Paul Gallagher, general counsel; Aviv Goldsmith, managing director development; Michael Madia, chief operating officer; and directors Richard Hoff, Rhonda Jackson, Kirk Larson, Keith Laudeman and Jeff Reichle.
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