Iscribes Inc., Corporation just had published form D for $1.02 million equity financing. This is a new filing. Iscribes was able to sell $702,082 so far. That is 68.69% of the fundraising. The total financing amount was $1.02 million. The offering form was filed on 2016-10-12. The reason for the financing was: Proceeds will be used for working capital, which may include normal compensation to executive officers.. The fundraising still has about $320,000 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Iscribes is based in North Carolina. The company’s business is Other Technology. The form was signed by Jared Pelo President and Chief Executive Officer. The company was incorporated in 2014. The filler’s address is: 118 W. Parrish St., Suite 300, Durham, Nc, North Carolina, 27701. Jared Pelo is the related person in the form and it has address: 118 W. Parrish St., Suite 300, Durham, Nc, North Carolina, 27701. Link to Iscribes Filing: 000161267216000005.
Analysis of Iscribes Offering
On average, firms in the Other Technology sector, sell 85.80% of the total offering size. Iscribes sold 68.69% of the offering. The financing is still open. The average investment offering size for companies in the Other Technology industry is $1.54 million. The offering was 54.41% smaller than the average of $1.54 million. Of course this should not be taken as negative. Firms get financed for different 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 Iscribes Also
The Form D signed by Jared Pelo might help Iscribes 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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