Geostellar, Inc., Corporation just submitted form D about $4.36 million equity financing. This is a new filing. Geostellar was able to finance itself with $1.00 million so far. That is 22.93% of the fundraising. The total fundraising amount was $4.36 million. The offering form was filed on 2016-10-11. The reason for the financing was: unspecified. The fundraising still has about $3.36 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Geostellar is based in West Virginia. The firm’s business is Other Energy. The D form was filed by David Levine Chief Executive Officer. The company was incorporated more than five years ago. The filler’s address is: 224 West King Street, Martinsburg, Wv, West Virginia, 25401. David Levine is the related person in the form and it has address: 224 West King Street, Martinsburg, Wv, West Virginia, 25401. Link to Geostellar Filing: 000151756016000003.
Analysis of Geostellar Offering
On average, companies in the Other Energy sector, sell 65.00% of the total offering size. Geostellar sold 22.93% of the offering. The financing is still open. The average offering size for companies in the Other Energy industry is $1.11 million. The offering was 9.67% smaller than the average of $1.11 million. Of course this should not be taken as negative. Startups get financed for a variety of needs and reasons. The minimum investment for this offering was set at $1000000. 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 Geostellar Also
The Form D signed by David Levine might help Geostellar, 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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