Interaxon Inc., Corporation just had published form D announcing $2.00 million debt financing. This is a new filing. Interaxon was able to fundraise $1.50 million so far. That is 75.00% of the financing round. The total private offering amount was $2.00 million. The private financing document was filed on 2016-10-07. The reason for the financing was: unspecified. The fundraising still has about $500,000 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Interaxon is based in Ontario – Canada. The company’s business is Other Technology. The form D was signed by Derek Luke Chief Executive Officer. The company was incorporated more than five years ago. The filler’s address is: 511 King Street West, Suite 303, Toronto, A6, Ontario, Canada, M5v 1K4. Derek Luke is the related person in the form and it has address: 685 Broadway Avenue, Toronto, A6, Ontario, Canada, M4k 2P4. Link to Interaxon Filing: 000154697916000003.
Analysis of Interaxon Offering
On average, companies in the Other Technology sector, sell 85.80% of the total offering amount. Interaxon sold 75.00% of the offering. The financing is still open. The average offering amount for companies in the Other Technology industry is $1.54 million. The offering was 2.60% smaller than the average of $1.54 million. Of course this should not be interpreted as negative. Startups get financed for different reasons and needs. The minimum investment for this fundraising is set at $25000. 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 Interaxon Also
The Form D signed by Derek Luke might help Interaxon 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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