Geneticure Inc., Corporation just had published form D because of $400,000 equity financing. This is a new filing. Geneticure was able to finance itself with $250,000 so far. That is 62.50% of the fundraising. The total financing amount was $400,000. The offering form was filed on 2016-10-12. The reason for the financing was: unspecified. The fundraising still has about $150,000 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Geneticure is based in Alabama. The filler’s business is Biotechnology. The D form was signed by Scott Snyder President and Chief Executive Officer. The company was incorporated in 2013. The filler’s address is: 7264 Washington Ave., Eden Prairie, Mn, Minnesota, 55344. Scott Snyder is the related person in the form and it has address: 7264 Washington Avenue, Eden Prairie, Mn, Minnesota, 55344. Link to Geneticure Filing: 000161559416000254.
Analysis of Geneticure Offering
On average, startups in the Biotechnology sector, sell 73.77% of the total offering size. Geneticure sold 62.50% of the offering. The financing is still open. The average financing size for companies in the Biotechnology industry is $3.08 million. The offering was 91.88% smaller than the average of $3.08 million. Of course this should not be interpreted as negative. Companies raise funds for different reasons and needs. The minimum investment for this financing is set at $50000. 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 Geneticure Also
The Form D signed by Scott Snyder might help Geneticure 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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