(Above) SPiN co-owner Susan Sarandon plays ping pong at the company’s Los Angeles location. Photo by Steve Schofield. (Click on image to view larger version.)

4-Jun-15 – It will buy a lot of ping pong balls. The New York based company that is building a “ping pong social club” in River North has raised $1.8 million for its Chicago location, according to a document filed on Wednesday with the United States Security and Exchange Commission.

SPiN Chicago LLC, founded last year and with no revenue yet, had $1.8 million in private equity to offer and between May 19 and June 3, the company sold all of it.

The Chicago location on the east side of Hotel Chicago at Marina City will open in late summer or early fall. Besides table tennis, SPiN will have a bar and restaurant. The average company in the restaurant industry raises $302,000 in an offering like this, according to the financial news website Octafinance.com.

Executive officers of the company include Pieter Vanermen, CEO, Andrew Gordon, chief financial officer, Michael McKinley, chief operating officer, and Vincent Herbert, who is on the company’s board of directors. SPiN is co-owned by actress Susan Sarandon.

Privately held companies use the SEC form to report the offering of securities, representing company ownership, that are exempt from being registered.