Cordex Systems Financing
Cordex Systems, Inc, Corporation just filed form D for $5.00 million equity financing. This is a new filing. Cordex Systems was able to sell $729,534 so far. That is 14.59% of the round of financing. The total private offering amount was $5.00 million. The fundraising form was filed on 2016-10-07. The reason for the financing was: Proceeds from the offering to be used primarily for general working capital and anticipated expense related to conducting clinical trials. The fundraising still has about $4.27 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Cordex Systems is based in Maryland. The firm’s business is Biotechnology. The SEC form was filed by Albert Fleury III President. The company was incorporated in 2012. The filler’s address is: 415 Fourth Street, Suite 202, Annapolis, Md, Maryland, 20815. Kathy Elizabeth Magliato is the related person in the form and it has address: 401 El Medio Ave, Pacific Palisades, Ca, California, 90272. Link to Cordex Systems Filing: 000164240316000002.
Analysis of Cordex Systems Offering
On average, companies in the Biotechnology sector, sell 73.77% of the total offering size. Cordex Systems sold 14.59% of the offering. The fundraising is still open. The average investment floor size for companies in the Biotechnology industry is $3.08 million. The offering was 76.31% smaller than the average of $3.08 million. Of course this should not be taken as negative. Businesses get financed for different needs and reasons. The minimum investment for this financing was set at $50000. 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 Cordex Systems Also
The Form D signed by Albert Fleury III might help Cordex Systems, 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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