Transatlantic Petroleum Financing
Transatlantic Petroleum Ltd., just had published form D announcing $3.81 million equity financing. This is a new filing. Transatlantic Petroleum was able to sell $3.81 million. That is 100.00% of the financing round. The total financing amount was $3.81 million. The financing form was filed on 2016-07-12. The reason for the financing was: Issuer issued (i) 4,087,734 and 355,826 shares in lieu of cash interest to certain holders of its 13.0% convertible notes (“2017 Notes”) and the holder of its $5.0 million draw down convertible note, respectively; and (ii) 1,329,745 shares for cash..
Transatlantic Petroleum is based in Texas. The firm’s business is Oil and Gas. The form D was signed by Chad Burkhardt Vice President, General Counsel and Secretary. The company was incorporated more than five years ago. The filler’s address is: 16803 Dallas Parkway, Addison, Tx, Texas, 75001. Noah Malone Mitchell, 3Rd is the related person in the form and it has address: 16803 Dallas Parkway, Addison, Tx, Texas, 75001. Link to Transatlantic Petroleum Filing: 000120919116132489.
Analysis of Transatlantic Petroleum Offering
On average, firms in the Oil and Gas sector, sell 13.77% of the total offering size. Transatlantic Petroleum sold 100.00% of the offering. Could this mean that the trust in Transatlantic Petroleum is high? The average investment size for companies in the Oil and Gas industry is $227,000. The total amount raised is 1,578.33% bigger than the average for companies in the Oil and Gas sector. The minimum investment for this fundraising 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 Transatlantic Petroleum Also
The Form D signed by Chad Burkhardt might help Transatlantic Petroleum Ltd.’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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