Crosstx, Inc., Corporation just filed form D because of $1.21 million equity financing. This is a new filing. Crosstx was able to finance itself with $663,000 so far. That is 54.88% of the financing offer. The total fundraising amount was $1.21 million. The offering form was filed on 2016-07-11. The reason for the financing was: unspecified. The fundraising still has about $545,000 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Crosstx is based in Montana. The filler’s business is Other Technology. The form was submitted by Chad Nybo CEO. The company was incorporated more than five years ago. The filler’s address is: 1155 Kagy Blvd., Suite 200, Bozeman, Mt, Montana, 59715. Nybo Chad is the related person in the form and it has address: 1125 West Kagy Blvd., Suite 200, Bozeman, Mt, Montana, 59715. Link to Crosstx Filing: 000120919116132469.
Analysis of Crosstx Offering
On average, companies in the Other Technology sector, sell 85.80% of the total offering amount. Crosstx sold 54.88% of the offering. The financing is still open. The average investment size for companies in the Other Technology industry is $1.54 million. The offering was 56.95% smaller than the average of $1.54 million. Of course this should not be taken as negative. Firms get financed for a variety of needs and reasons. The minimum investment for this offering 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 Crosstx Also
The Form D signed by Chad Nybo might help Crosstx, 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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