In The News Publication: Newsday

Digital Donations plans $13 million IPO by shareholders

Digital Donations Technologies Inc., whose digital crowdfunding systems help nonprofits raise money, has filed government documents for an initial public offering to sell up to $13.1 million in stock.

The Melville company’s prospectus says it is seeking to sell 8.75 million shares of common stock for $1.50.

All the proceeds would go to the selling shareholders and none to the company. Alon Kapen, a securities lawyer with Farrell Fritz in Uniondale, said the IPO was unusual in that only shareholders are selling shares to the public.

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