Data / Crowdfunding / North Carolina / ALBEMARLE HOTEL DEVELOPMENT, LLC
ALBEMARLE HOTEL DEVELOPMENT, LLC: crowdfunding raise on Vicinity LLC, $350,000 to $1,070,000 (2021)
ALBEMARLE HOTEL DEVELOPMENT, LLC, a limited liability company in Albemarle, NC, filed a Form C with the SEC on April 27, 2021 to raise $350,000 to $1,070,000 in Convertible Debentures through Vicinity LLC. The offering closed on May 5, 2021. In its most recent fiscal year it reported $0 in revenue and a net loss of $38,039.
SpecStream is the live web data engine for teams and agents. It reads every Form C on SEC EDGAR each morning, and this page is that reading. Ask for your own cut (a portal, a state, a size, a revenue range) and new raises arrive in your sheet, CRM, Slack or agent as they land.
- Website
- www.liveatthealbemarle.com
- Funding portal
- Vicinity LLC
- Address
- 197 N. SECOND STREET SUITE 200, Albemarle, NC 28001
- Legal form
- Limited Liability Company
- Jurisdiction
- NC
- Incorporated
- December 19, 2017
- SEC CIK
- 0001846512
Offering terms
From the amendment filed April 27, 2021.
- Security
- Convertible Debentures
- Price
- $100.00
- Target
- $350,000
- Maximum
- $1,070,000
- Deadline
- May 5, 2021
- Portal compensation
- Company shall pay to Vicinity at each closing a fee consisting of a 5% commission based on the dollar amount received from US investors. Also, Vicinity will receive a fee from investors in the form of 1% of the invested amount (max of $250/investor).
Financials
From the Form C-U filed November 15, 2022.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $0 | $0 | sec.gov |
| Cost of goods sold | $0 | $0 | sec.gov |
| Net income | $-38,039 | $-16,882 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $634,950 | $366,424 | sec.gov |
| Cash | $2,946 | $0 | sec.gov |
| Accounts receivable | $0 | $0 | sec.gov |
| Short-term debt | $110,597 | $4,862 | sec.gov |
| Long-term debt | $527,963 | $327,133 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| June 21, 2023 | Termination of reporting | Not listed | Not listed | sec.gov | ||
| November 15, 2022 | Progress update | $350,000 | $1,070,000 | May 5, 2021 | The deal successfully closed on 05/05/2021 having raised $1,800,000 from committed investments by the deadline, according to the final accounting. | sec.gov |
| May 2, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| April 27, 2021 | Amendment | $350,000 | $1,070,000 | May 5, 2021 | Increase maximum offering amount to $1,800,000 and move up the offering deadline to May 5, 2021. | sec.gov |
| April 26, 2021 | Amendment | $350,000 | $1,070,000 | June 30, 2021 | Increasing maximum offering amount to $1,500,000, adding audited financials, moving the final closing date, and updating intermediary compensation. | sec.gov |
| March 30, 2021 | Offering | $350,000 | $1,070,000 | April 30, 2021 | sec.gov |
Updated June 21, 2023. Read from SEC EDGAR. Public domain (U.S. government work). Financials are as each company reported them in its Form C, unaudited unless the filing says otherwise. Websites are the ones the companies declared to the SEC. Free to reuse with credit to SpecStream under CC BY 4.0. Spot a wrong value? Write to [email protected] with the link to this page.