Grow, Inc., Corporation just released form D about $7.00 million equity financing. This is a new filing. Grow was able to sell $6.97 million. That is 99.64% of the fundraising. The total private financing amount was $7.00 million. The private financing document was filed on 2016-07-11. The reason for the financing was: unspecified. The fundraising still has about $24,999 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Grow is based in Utah. The company’s business is Other Technology. The form D was filed by Rob Nelson Chief Executive Officer. The company was incorporated in 2014. The filler’s address is: 5152 Edgewood Drive, Suite 150, Provo, Ut, Utah, 84604. Rob Nelson is the related person in the form and it has address: 5152 Edgewood Drive, Suite 150, Provo, Ut, Utah, 84604. Link to Grow Filing: 000162684616000003.
Analysis of Grow Offering
On average, companies in the Other Technology sector, sell 85.80% of the total offering amount. Grow sold 99.64% of the offering. The financing is still open. Could this mean that the trust in Grow is high? The average investment offering size for companies in the Other Technology industry is $1.54 million. The total amount raised is 352.92% bigger than the average for companies in the Other Technology sector. The minimum investment for this fundraising 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 Grow Also
The Form D signed by Rob Nelson might help Grow, 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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