Advantagene, Inc., Corporation just released form D announcing $35.00 million equity financing. The date of first sale was 2016-06-30. Advantagene was able to sell $12.89 million so far. That is 36.82% of the offering. The total private financing amount was $35.00 million. The financing form was filed on 2016-07-12. The reason for the financing was: Other than the payment of salaries and other compensation and benefits, no officer, director or promoter will receive any payments from the proceeds of this offering.. The fundraising still has about $22.11 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Advantagene is based in Massachusetts. The filler’s business is Biotechnology. The form D was filed by Stephen C Rocamboli Chief Business Officer. The company was incorporated more than five years ago. The filler’s address is: 440 Lexington Street, Auburndale, Ma, Massachusetts, 02466. Estuardo Aguilar-Cordova is the related person in the form and it has address: C/O 440 Lexington Street, Auburndale, Ma, Massachusetts, 02466. Link to Advantagene Filing: 000166054916000006.
Analysis of Advantagene Offering
On average, firms in the Biotechnology sector, sell 73.77% of the total offering size. Advantagene sold 36.82% of the offering. The fundraising is still open. The average investment offering size for companies in the Biotechnology industry is $3.08 million. The total amount raised is 318.44% bigger than the average for companies in the Biotechnology 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 Advantagene Also
The Form D signed by Stephen C Rocamboli might help Advantagene, 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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