Form D: Planet3 $3.00 million Financing. Tim Kelly Submitted Jul 9 Form D

Technology Planet3, Inc. - Tim Kelly

Planet3 Financing

Planet3, Inc., Corporation just released form D because of $3.00 million debt financing. This is a new filing. Planet3 was able to sell $1.00 million so far. That is 33.33% of the offering. The total offering amount was $3.00 million. The financing form was filed on 2016-07-09. The reason for the financing was: unspecified. The fundraising still has about $2.00 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.

Planet3 is based in Dc. The company’s business is Other Technology. The SEC form was submitted by Tim Kelly Chief Executive Officer. The company was incorporated in 2014. The filler’s address is: 3506 Connecticut Avenue, Washington, Dc, District Of Columbia, 20008. Tim Kelly is the related person in the form and it has address: 3506 Connecticut Avenue, Washington, Dc, District Of Columbia, 20008. Link to Planet3 Filing: 000161530316000005.

Analysis of Planet3 Offering

On average, startups in the Other Technology sector, sell 85.80% of the total offering amount. Planet3 sold 33.33% of the offering. The financing is still open. The average fundraising size for companies in the Other Technology industry is $1.54 million. The offering was 35.06% smaller than the average of $1.54 million. Of course this should not be seen as negative. Firms get financed for different needs and reasons. The minimum investment for this offering was set at $0. 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 Planet3 Also

The Form D signed by Tim Kelly might help Planet3, 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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