Biohitech Global Financing
Biohitech Global, Inc., Corporation just filed form D announcing $15.00 million equity and debt financing. The date of first sale was 2016-02-10. Biohitech Global was able to finance itself with $3.40 million so far. That is 22.67% of the fundraising. The total offering amount was $15.00 million. The offering form was filed on 2016-10-11. The reason for the financing was: As of May 31, 2106, the offering amount was increased to $15,000,000, primarily in order to finance the purchase price of a potential acquisition that was identified during the offering.. The fundraising still has about $11.60 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Biohitech Global is based in New York. The filler’s business is Other Technology. The form D was filed by Brian C Essman CFO & Treasurer. The company was incorporated in 2013. The filler’s address is: 80 Red Schoolhouse Road, Suite 101, Chestnut Ridge, Ny, New York, 10977. Frank E Celli is the related person in the form and it has address: 80 Red Schoolhouse Road, Suite 101, Chestnut Ridge, Ny, New York, 10977. Link to Biohitech Global Filing: 000159038316000005.
Analysis of Biohitech Global Offering
On average, startups in the Other Technology sector, sell 85.80% of the total offering size. Biohitech Global sold 22.67% of the offering. The fundraising is still open. The average offering size for companies in the Other Technology industry is $1.54 million. The total amount raised is 120.78% bigger than the average for companies in the Other Technology sector. The minimum investment for this offering 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 Biohitech Global Also
The Form D signed by Brian C Essman might help Biohitech Global, 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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