Authess, Inc., Corporation just released form D announcing $1.50 million equity financing. This is a new filing. Authess was able to finance itself with $830,000 so far. That is 55.33% of the financing offer. The total private offering amount was $1.50 million. The financing document was filed on 2016-10-06. The reason for the financing was: unspecified. The fundraising still has about $670,000 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Authess is based in Massachusetts. The filler’s business is not disclosed. The form was signed by Paul Crockett President. The company was incorporated in 2015. The filler’s address is: 281 Summer St., 2Nd Floor, Boston, Ma, Massachusetts, 02466. Paul Crockett is the related person in the form and it has address: 281 Summer St., 2Nd Floor, Boston, Ma, Massachusetts, 02466. Link to Authess Filing: 000168687616000001.
Analysis of Authess Offering
On average, firms in the not disclosed sector, sell 67.77% of the total offering amount. Authess sold 55.33% of the offering. The fundraising is still open. The average fundraising size for companies in all industries in our database is $3.05 million. The offering was 72.79% smaller than the average of $3.05 million. Of course this should not be interpreted as negative. Businesses get financed for a variety of needs and reasons. The minimum investment for this offering 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 Authess Also
The Form D signed by Paul Crockett might help Authess, 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.