Electrameccanica Vehicles Financing
Electrameccanica Vehicles Corp., Corporation just had published form D because of $160,740 equity financing. This is a new filing. Electrameccanica Vehicles was able to sell $80 so far. That is 0.05% of the fundraising offer. The total financing amount was $160,740. The financing form was filed on 2016-09-28. The reason for the financing was: 13(a)=the price of units (100,000 @ C$0.001), converted to US$, plus aggregate exercise price of warrants forming part of units (100,000 @ C$2.00). No guarantee that the warrants will be exercised.. The fundraising still has about $160,660 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Electrameccanica Vehicles is based in British Columbia – Canada. The company’s business is Manufacturing. The form D was signed by Jerry Kroll President & Chief Executive Officer. The company was incorporated in 2015. The filler’s address is: 102 East 1St Avenue, Vancouver, A1, British Columbia, Canada, V5t 1A4. Jerry Kroll is the related person in the form and it has address: 102 East 1St Avenue, Vancouver, A1, British Columbia, Canada, V5t 1A4. Link to Electrameccanica Vehicles Filing: 000118374016000432.
Analysis of Electrameccanica Vehicles Offering
On average, startups in the Manufacturing sector, sell 59.50% of the total offering size. Electrameccanica Vehicles sold 0.05% of the offering. The fundraising is still open. The average fundraising amount for companies in the Manufacturing industry is $763,000. The offering was 99.99% smaller than the average of $763,000. Of course this should not be seen as negative. Companies raise funds for different reasons and needs. The minimum investment for this financing is set at $0. If you know more about the reasons for the fundraising, 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 Electrameccanica Vehicles Also
The Form D signed by Jerry Kroll might help Electrameccanica Vehicles 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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