Evolution Wellness Seeks $1.2M In Private Equity

1/24/17

By Olivia Browning, Maryland Business News Wire

Evolution Wellness LLC wants to raise $1.2 million in shares in a private stock offering, according to a Securities and Exchange Commission filing.

The Baltimore-based health care company filed the Form D, signed by chief executive officer Christopher Jensen, on Jan. 21. It did not disclose what it intends to do with the proceeds.

On Dec. 9, the Maryland Medical Cannabis Commission selected Evolution Wellness and 101 other companies across the state of Maryland to receive a preliminary dispensary license.

Evolution Wellness, and the other companies picked to run the dispensaries, are now in the process of additional review by the state and must pass inspections before opening.

There is no legal medical cannabis available to patients in Maryland at this time. Qualifying patients are able to register with the Maryland Medical Cannabis Commission beginning in the first quarter 2017 and the state plans to have dispensaries open by the end of 2017.

Evolution Wellness was founded by Jensen in 2015. Jensen is a former practicing attorney and, since launching Evolution Wellness, has focused on investing in and advising startups.

Jensen has started several other companies including Trust Point International, a legal services firm, and Model B, a technology-enabled managed services firm. Jensen developed TrustPoint in 2009 and grew the company to revenue of over $60 million, with 13 locations across the U.S., by 2013.

Companies relying on a Reg D exemption do not have to register their offerings of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

The form can be found here.

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