Digital Donations plans $13 million IPO by shareholders
November 16, 2016
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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