Form D Watching: Formula Xo $750000 Financing. Wayne Willis Submitted Oct 12 D Filing


Formula Xo, Inc. - Wayne Willis

Formula Xo Financing

Formula Xo, Inc., Corporation just had published form D because of $750,000 debt financing. This is a new filing. Formula Xo was able to finance itself with $100,000 so far. That is 13.33% of the fundraising offer. The total private financing amount was $750,000. The fundraising form was filed on 2016-10-12. The reason for the financing was: unspecified. The fundraising still has about $650,000 more and is not closed yet. We have to wait more to see if the offering will be fully taken.

Formula Xo is based in Virginia. The firm’s business is not disclosed. The form was submitted by Wayne Willis Chief Executive Officer. The company was incorporated in 2013. The filler’s address is: 46400 Benedict Drive, Suite 203, Sterling, Va, Virginia, 20164. Wayne Willis is the related person in the form and it has address: 46400 Benedict Drive, Suite 203, Sterling, Va, Virginia, 20164. Link to Formula Xo Filing: 000159458616000003.

Analysis of Formula Xo Offering

On average, companies in the not disclosed sector, sell 67.77% of the total offering size. Formula Xo sold 13.33% of the offering. The financing is still open. The average investment offering size for companies in all industries in our database is $3.05 million. The offering was 96.72% smaller than the average of $3.05 million. Of course this should not be seen as negative. Startups raise funds for a variety of reasons and needs. The minimum investment for this fundraising 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 Formula Xo Also

The Form D signed by Wayne Willis might help Formula Xo, 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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