Hot Dang Financing
Hot Dang, Inc., Corporation just submitted form D announcing $750,000 equity financing. This is a new filing. Hot Dang was able to sell $100,000 so far. That is 13.33% of the fundraising offer. The total private financing amount was $750,000. The financing document was filed on 2016-10-14. The reason for the financing was: unspecified. The fundraising still has about $650,000 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Hot Dang is based in Minnesota. The firm’s business is Manufacturing. The SEC form was submitted by Tim Murphy President. The company was incorporated in 2012. The filler’s address is: 3662 Huntington Ave., Minneapolis, Mn, Minnesota, 55416. Tim Murphy is the related person in the form and it has address: 3662 Huntington Ave., Minneapolis, Mn, Minnesota, 55416. Link to Hot Dang Filing: 000161559416000255.
Analysis of Hot Dang Offering
On average, startups in the Manufacturing sector, sell 59.50% of the total offering amount. Hot Dang sold 13.33% of the offering. The financing is still open. The average investment offering size for companies in the Manufacturing industry is $763,000. The offering was 86.89% smaller than the average of $763,000. Of course this should not be seen as negative. Businesses raise funds for different reasons and needs. The minimum investment for this fundraising is set at $25000. 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 Hot Dang Also
The Form D signed by Tim Murphy might help Hot Dang, 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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