Helocyte, Inc., Corporation just released form D regarding $5.00 million debt financing. The date of first sale was 2016-09-30. Helocyte was able to finance itself with $3.02 million so far. That is 60.36% of the offering. The total private financing amount was $5.00 million. The financing form was filed on 2016-10-13. The reason for the financing was: Other than the payment of salaries and other compensation and benefits, no officer, director or promoter will receive any payments from the proceeds of this offering.. The fundraising still has about $1.98 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Helocyte is based in New York. The filler’s business is Biotechnology. The D form was filed by Frank Taffy President and CEO. The company was incorporated in 2015. The filler’s address is: 2 Gansevoort Street, 9Th Floor, New York, Ny, New York, 10014. Frank Taffy is the related person in the form and it has address: C/O 2 Gansevoort Street, 9Th Floor, New York, Ny, New York, 10014. Link to Helocyte Filing: 000167980816000002.
Analysis of Helocyte Offering
On average, companies in the Biotechnology sector, sell 73.77% of the total offering size. Helocyte sold 60.36% of the offering. The fundraising is still open. The average investment size for companies in the Biotechnology industry is $3.08 million. The offering was 2.01% smaller than the average of $3.08 million. Of course this should not be taken as negative. Companies raise funds for a variety of reasons and needs. The minimum investment for this offering was 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 Helocyte Also
The Form D signed by Frank Taffy might help Helocyte, 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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