Toughbuilt Industries Financing
Toughbuilt Industries, Inc, Corporation just released form D for $5.00 million equity and debt financing. This is a new filing. Toughbuilt Industries, Inc is expected to fundraise $5.00 million in this round of financing. The total fundraising amount was $5.00 million. The financing form was filed on 2016-10-04. The reason for the financing was: Joseph Gunnar & Co., LLC will receive (1) a Cash fee equal to 8% of the gross proceeds that the Company receives from this offering and (2) 5-year warrants to purchase that number of shares of Common Stock equal to the quotient obtained by dividing (i) 5%. The fundraising still has about $5.00 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Toughbuilt Industries is based in California. The firm’s business is Manufacturing. The form D was signed by Michael Panosian Chief Executive Officer. The company was incorporated in 2012. The filler’s address is: 655 N. Central Ave., Suite 1700, Glendale, Ca, California, 91203. Michael Panosian is the related person in the form and it has address: 655 N. Central Ave., Suite 1700, Glendale, Ca, California, 91203. Link to Toughbuilt Industries Filing: 000161577416007519.
Analysis of Toughbuilt Industries Offering
On average, firms in the Manufacturing sector, sell 59.50% of the total offering size. Toughbuilt Industries sold 0.00% of the offering. The financing is still open. The average fundraising amount for companies in the Manufacturing industry is $763,000. The offering was 100.00% smaller than the average of $763,000. Of course this should not be taken as negative. Companies get financed for different needs and reasons. The minimum investment for this offering is set at $5000000. 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 Toughbuilt Industries Also
The Form D signed by Michael Panosian might help Toughbuilt Industries, 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.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.