Growgeneration Corp., Corporation just submitted form D announcing $700,000 equity financing. This is a new filing. Growgeneration was able to finance itself with $480,000 so far. That is 68.57% of the offering. The total fundraising amount was $700,000. The fundraising form was filed on 2016-10-04. The reason for the financing was: Pursuant to an agreement dated 03/12/2015 with Cavu Securities LLC, Issuer agreed to pay Cavu a cash fee of 7% and an equity fee of 7% in 5 year warrants of the aggregate amount raised by Cavu in offerings of up to $4,200,000.. The fundraising still has about $220,000 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Growgeneration is based in Colorado. The filler’s business is Retailing. The SEC form was filed by Darren Lampert Chief Executive Officer. The company was incorporated in 2014. The filler’s address is: 503 N. Main St., Suite 740, Pueblo, Co, Colorado, 81003. Darren Lampert is the related person in the form and it has address: 503 N. Main St., Suite 740, Pueblo, Co, Colorado, 81003. Link to Growgeneration Filing: 000121390016017266.
Analysis of Growgeneration Offering
On average, startups in the Retailing sector, sell 71.70% of the total offering size. Growgeneration sold 68.57% of the offering. The financing is still open. The average investment offering size for companies in the Retailing industry is $45,600. The total amount raised is 952.63% bigger than the average for companies in the Retailing sector. The minimum investment for this offering was set at $35000. If you know more about the reasons for the financing, please comment below.
What is Form D? What It Is Used For
Form D disclosures could be used to track and understand better your competitors. The information in Form D is usually highly confidential for ventures and startups and they don’t like revealing it. This is because it reveals amount raised or planned to be raised as well as reasons for the financing. This could help competitors. Entrepreneurs usually want to keep their financing a ‘secret’ so they can stay in stealth mode for longer.
Why Fundraising Reporting Is Good For Growgeneration Also
The Form D signed by Darren Lampert might help Growgeneration Corp.’s sector. First, it helps potential customers feel more safe to deal with a firm that is well financed. The odds are higher that it will stay in the business. Second, this could attract other investors such as venture-capital firms, funds and angels. Third, positive PR effects could even bring leasing firms and venture lenders.
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