Peri Inc., Corporation just submitted form D announcing $2.50 million equity financing. The date of first sale was 2015-06-22. Peri was able to fundraise $2.16 million. That is 86.55% of the offering. The total financing amount was $2.50 million. The fundraising form was filed on 2016-07-08. The reason for the financing was: unspecified. The fundraising still has about $336,199 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Peri is based in California. The company’s business is Other Technology. The D form was signed by Michael Hsu Chief Financial Officer. The company was incorporated in 2014. The filler’s address is: 19782 Macarthur, Suite 230, Irvine, Ca, California, 92612. Michael Hsu is the related person in the form and it has address: 19782 Macarthur, Suite 230, Irvine, Ca, California, 92612. Link to Peri Filing: 000163038716000007.
Analysis of Peri Offering
On average, startups in the Other Technology sector, sell 85.80% of the total offering amount. Peri sold 86.55% of the offering. The fundraising is still open. Could this mean that the trust in Peri is high? The average investment size for companies in the Other Technology industry is $1.54 million. The total amount raised is 40.51% bigger than the average for companies in the Other Technology sector. The minimum investment for this offering is set at $1. 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 Peri Also
The Form D signed by Michael Hsu might help Peri 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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