Tnemec Co. Inc. sold $409,493 in equity in a private offering that commenced on May 13, according to a filing with the Securities and Exchange Commission.
The Kansas City-based provider of industrial coatings offered a total of $1.4 million in equity.
Tnemec CEO Peter Cortelyou said the company is not raising capital for any specific business purpose. He said it's an annual stock offering. The capital is used to cover shareholders who leave the company or who retire and need to redeem stock. Share…
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