Form D Report Mast Mobile $8.37 million Fundraising. Peter Lurie Released Oct 4 D Filing


Telecommunications Mast Mobile, Inc. - Peter Lurie

Mast Mobile Financing

Mast Mobile, Inc., Corporation just submitted form D for $8.37 million equity financing. This is a new filing. Mast Mobile was able to sell $5.79 million so far. That is 69.21% of the financing round. The total fundraising amount was $8.37 million. The offering form was filed on 2016-10-04. The reason for the financing was: The amounts stated above for Total Offering Amount and Total Amount Sold include both cash payments and indebtedness cancellations. The total amount sold is equal to 5,789,316.92 USD and the total amount remaining to be sold is equal to 2,576,001.08 USD.. The fundraising still has about $2.58 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.

Mast Mobile is based in New York. The company’s business is Telecommunications. The SEC form was submitted by Peter Lurie Chief Business and Legal Officer. The company was incorporated in 2013. The filler’s address is: 335 Madison Avenue, 2Nd Floor, New York, Ny, New York, 10017. Peter Lurie is the related person in the form and it has address: 335 Madison Avenue, 2Nd Floor, C/O Mast Mobile, Inc., New York, Ny, New York, 10017. Link to Mast Mobile Filing: 000161811316000002.

Analysis of Mast Mobile Offering

On average, startups in the Telecommunications sector, sell 85.70% of the total offering size. Mast Mobile sold 69.21% of the offering. The financing is still open. The average investment floor size for companies in the Telecommunications industry is $125,000. The total amount raised is 4,531.45% bigger than the average for companies in the Telecommunications sector. The minimum investment for this financing is set at $0. 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 Mast Mobile Also

The Form D signed by Peter Lurie might help Mast Mobile, Inc.’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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