Form D Filing: Snailz $1.00 million Financing. Darren M Sardoff Published Oct 13 SEC Form

Snailz, Inc. - Darren M Sardoff

Snailz Financing

Snailz, Inc., Corporation just released form D regarding $1.00 million debt financing. This is a new filing. Snailz was able to fundraise $600,000 so far. That is 60.00% of the fundraising offer. The total fundraising amount was $1.00 million. The offering form was filed on 2016-10-13. The reason for the financing was: unspecified. The fundraising still has about $400,000 more and is not closed yet. We have to wait more to see if the offering will be fully taken.

Snailz is based in Alabama. The firm’s business is not disclosed. The SEC form was signed by Darren M Sardoff President and CEO. The company was incorporated in 2014. The filler’s address is: 530 Seventh Avenue, New York, Ny, New York, 10018. Darren M. Sardoff is the related person in the form and it has address: 530 Seventh Avenue, New York, Ny, New York, 10018. Link to Snailz Filing: 000114420416127989.

Analysis of Snailz Offering

On average, firms in the not disclosed sector, sell 67.77% of the total offering size. Snailz sold 60.00% of the offering. The fundraising is still open. The average financing size for companies in all industries in our database is $3.05 million. The offering was 80.33% smaller than the average of $3.05 million. Of course this should not be taken as negative. Startups raise funds for a variety of needs and reasons. The minimum investment for this financing is 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 Snailz Also

The Form D signed by Darren M Sardoff might help Snailz, 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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