Edn, Inc., Corporation just had published form D for $550,000 debt financing. This is a new filing. Edn was able to sell $500,000. That is 90.91% of the round of financing. The total private offering amount was $550,000. This form was filed on 2016-10-05. The reason for the financing was: unspecified. The fundraising still has about $50,000 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Edn is based in Colorado. The filler’s business is Other Technology. The SEC form was signed by Ryan Woltz President and CEO. The company was incorporated in 2015. The filler’s address is: 3140 West 32Nd Street, #6, Denver, Co, Colorado, 80211. Ryan Woltz is the related person in the form and it has address: 3140 West 32Nd Street, #6, Denver, Co, Colorado, 80211. Link to Edn Filing: 000167167516000004.
Analysis of Edn Offering
On average, startups in the Other Technology sector, sell 85.80% of the total offering amount. Edn sold 90.91% of the offering. The fundraising is still open. Could this mean that the trust in Edn is high? The average financing size for companies in the Other Technology industry is $1.54 million. The offering was 67.53% smaller than the average of $1.54 million. Of course this should not be interpreted as negative. Firms raise funds for a variety of reasons and needs. The minimum investment for this offering 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 Edn Also
The Form D signed by Ryan Woltz might help Edn, 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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