Looptworks, Llc, Limited Liability Company just submitted form D for $1.00 million debt financing. This is a new filing. Looptworks was able to finance itself with $200,000 so far. That is 20.00% of the fundraising. The total offering amount was $1.00 million. This form was filed on 2016-10-13. The reason for the financing was: unspecified. The fundraising still has about $800,000 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Looptworks is based in California. The company’s business is Manufacturing. The form was signed by Erik Swanson by power of attorney Manager. The company was incorporated more than five years ago. The filler’s address is: 333 Ne Hancock St, #4, Portland, Or, Oregon, 97212. Scott Hamlin is the related person in the form and it has address: 333 Ne Hancock St, #4, Portland, Or, Oregon, 97212. Link to Looptworks Filing: 000161881816000001.
Analysis of Looptworks Offering
On average, firms in the Manufacturing sector, sell 59.50% of the total offering size. Looptworks sold 20.00% of the offering. The fundraising is still open. The average financing size for companies in the Manufacturing industry is $763,000. The offering was 73.79% smaller than the average of $763,000. Of course this should not be taken as negative. Firms raise funds for a variety of reasons and needs. 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 Looptworks Also
The Form D signed by Erik Swanson by power of attorney might help Looptworks, Llc’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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