Iconnect Corp., Corporation just submitted form D for $2.44 million equity financing. This is a new filing. Iconnect was able to sell $2.44 million. That is 100.00% of the round of financing. The total private offering amount was $2.44 million. The financing document was filed on 2016-10-11. The reason for the financing was: unspecified.
Iconnect is based in Iowa. The filler’s business is Other Technology. The D form was filed by Thomas Kielty Chief Executive Officer. The company was incorporated in 2012. The filler’s address is: 3117 1St Avenue Se, Cedar Rapids, Ia, Iowa, 52402. Thomas Kielty is the related person in the form and it has address: 3117 1St Avenue Se, Cedar Rapids, Ia, Iowa, 52402. Link to Iconnect Filing: 000168685316000001.
Analysis of Iconnect Offering
On average, startups in the Other Technology sector, sell 85.80% of the total offering size. Iconnect sold 100.00% of the offering. Could this mean that the trust in Iconnect is high? The average offering size for companies in the Other Technology industry is $1.54 million. The total amount raised is 58.38% bigger than the average for companies in the Other Technology sector. The minimum investment for this offering is 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 Iconnect Also
The Form D signed by Thomas Kielty might help Iconnect Corp.’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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