Westford Scales Financing
Westford Scales, Limited Liability Company just released form D for $4.00 million equity financing. This is a new filing. Westford Scales is expected to fundraise $4.00 million in this fundraising offer. The total private financing amount was $4.00 million. The offering form was filed on 2016-10-12. The reason for the financing was: unspecified. The fundraising still has about $4.00 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Westford Scales is based in Prince Edward Island – Canada. The filler’s business is Other Banking and Financial Services. The D form was submitted by Allison Macphee president. The filler’s address is: 30 Woodward Drive Apt#101, Charlottetown, A7, Prince Edward Island, Canada, C1a6n7. Allison Macphee is the related person in the form and it has address: 30 Woodward Drive Apt#101, Charlottetown, A7, Prince Edward Island, Canada, C1a6n7. Link to Westford Scales Filing: 000168712716000001.
Analysis of Westford Scales Offering
On average, companies in the Other Banking and Financial Services sector, sell 60.00% of the total offering size. Westford Scales sold 0.00% of the offering. The financing is still open. The average investment offering size for companies in the Other Banking and Financial Services industry is $1.58 million. The offering was 100.00% smaller than the average of $1.58 million. Of course this should not be interpreted as negative. Businesses raise funds for different needs and reasons. The minimum investment for this fundraising was set at $100000. 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 Westford Scales Also
The Form D signed by Allison Macphee might help Westford Scales’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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