Irr, Inc., Corporation just had published form D announcing $10.00 million equity financing. This is a new filing. Irr was able to sell $15,000 so far. That is 0.15% of the financing round. The total fundraising amount was $10.00 million. The private financing document was filed on 2016-10-04. The reason for the financing was: unspecified. The fundraising still has about $9.99 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Irr is based in California. The company’s business is Pharmaceuticals. The SEC form was submitted by Dr B Chandler May President, Vice President, Secretary. The company was incorporated in 2011. The filler’s address is: 515 E. Micheltorena St., Ste G, Santa Barbara, Ca, California, 93103. B. Chandler May is the related person in the form and it has address: 515 E. Micheltorena St., Ste G, Santa Barbara, Ca, California, 93103. Link to Irr Filing: 000114036116082025.
Analysis of Irr Offering
On average, firms in the Pharmaceuticals sector, sell 60.90% of the total offering amount. Irr sold 0.15% of the offering. The financing is still open. The average investment offering size for companies in the Pharmaceuticals industry is $556,000. The offering was 97.30% smaller than the average of $556,000. Of course this should not be interpreted as negative. Businesses raise funds for different needs and reasons. The minimum investment for this fundraising was 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 Irr Also
The Form D signed by Dr B Chandler May might help Irr, 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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