Tecovas, Inc., Corporation just had published form D because of $1.81 million equity financing. This is a new filing. Tecovas was able to fundraise $1.80 million. That is 99.58% of the fundraising offer. The total private offering amount was $1.81 million. The fundraising form was filed on 2016-10-11. The reason for the financing was: Includes $556,143 of principal amount of convertible promissory notes and accrued interest which converted into shares of Series Seed Preferred Stock.. The fundraising still has about $7,504 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Tecovas is based in Alabama. The company’s business is Retailing. The form was filed by Paul Hedrick President. The company was incorporated in 2014. The filler’s address is: 2514 E Cesar Chavez St., Austin, Tx, Texas, 78703. Paul Hedrick is the related person in the form and it has address: 2514 E Cesar Chavez St., Austin, Tx, Texas, 78702. Link to Tecovas Filing: 000168684016000001.
Analysis of Tecovas Offering
On average, firms in the Retailing sector, sell 71.70% of the total offering amount. Tecovas sold 99.58% of the offering. The fundraising is still open. Could this mean that the trust in Tecovas is high? The average investment offering size for companies in the Retailing industry is $45,600. The total amount raised is 3,844.38% bigger than the average for companies in the Retailing sector. The minimum investment for this fundraising was 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 Tecovas Also
The Form D signed by Paul Hedrick might help Tecovas, 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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