Synaptive Medical Financing
Synaptive Medical Inc., Corporation just submitted form D announcing $3.73 million equity financing. The date of first sale was 2016-09-24. Synaptive Medical was able to sell $3.73 million. That is 100.00% of the fundraising offer. The total financing amount was $3.73 million. The form was filed on 2016-10-07. The reason for the financing was: Conversions have been made from Canadian dollars to US dollars using an estimated $CAD 1.3171/$USD 1.00 exchange rate, as of close of business on September 23, 2016..
Synaptive Medical is based in Ontario – Canada. The firm’s business is Biotechnology. The form D was submitted by Cameron Piron President. The company was incorporated in 2012. The filler’s address is: 555 Richmond Street W, Suite 800, Toronto, A6, Ontario, Canada, M5v 3B1. Cameron Piron is the related person in the form and it has address: 555 Richmond Street W, Suite 800, Toronto, A6, Ontario, Canada, M5v 3B1. Link to Synaptive Medical Filing: 000162139416000005.
Analysis of Synaptive Medical Offering
On average, startups in the Biotechnology sector, sell 73.77% of the total offering size. Synaptive Medical sold 100.00% of the offering. Could this mean that the trust in Synaptive Medical is high? The average offering amount for companies in the Biotechnology industry is $3.08 million. The total amount raised is 20.96% bigger than the average for companies in the Biotechnology sector. 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 Synaptive Medical Also
The Form D signed by Cameron Piron might help Synaptive Medical 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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