Verdigris Technologies Financing
Verdigris Technologies, Inc., Corporation just released form D announcing $9.20 million equity financing. This is a new filing. Verdigris Technologies was able to finance itself with $6.66 million so far. That is 72.40% of the fundraising offer. The total private offering amount was $9.20 million. The offering form was filed on 2016-10-12. The reason for the financing was: The total offering sold so far includes $4,904,432.62 cash purchase price and $1,704,857.54 conversion of debt and interest.. The fundraising still has about $2.54 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Verdigris Technologies is based in California. The filler’s business is Energy Conservation. The D form was filed by Mark Chung CEO. The company was incorporated more than five years ago. The filler’s address is: Nasa Ames Research Center, Building 19, Room 2073, Moffett Field, Ca, California, 94035. Mark Chung is the related person in the form and it has address: C/O Verdigris Technologies, Inc., Nasa, Ames Research Center, Bldg 19, Rm 2073, Moffett Field, Ca, California, 94035. Link to Verdigris Technologies Filing: 000149723116000002.
Analysis of Verdigris Technologies Offering
On average, firms in the Energy Conservation sector, sell 66.70% of the total offering amount. Verdigris Technologies sold 72.40% of the offering. The financing is still open. Could this mean that the trust in Verdigris Technologies is high? The average offering amount for companies in the Energy Conservation industry is $1.34 million. The total amount raised is 396.55% bigger than the average for companies in the Energy Conservation sector. The minimum investment for this financing 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 Verdigris Technologies Also
The Form D signed by Mark Chung might help Verdigris Technologies, 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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