Iquartic, Inc., Corporation just released form D announcing $1.20 million equity financing. The date of first sale was 2014-10-30. Iquartic was able to finance itself with $809,989 so far. That is 67.50% of the round of financing. The total offering amount was $1.20 million. The form was filed on 2016-07-11. The reason for the financing was: unspecified. The fundraising still has about $390,011 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Iquartic is based in Massachusetts. The company’s business is Other Technology. The form was signed by Ze Jiang President and Chief Executive Officer. The company was incorporated in 2012. The filler’s address is: 270 South Street, Brookline, Ma, Massachusetts, 02467. Ze Jiang is the related person in the form and it has address: 270 South Street, Brookline, Ma, Massachusetts, 02467. Link to Iquartic Filing: 000162441216000001.
Analysis of Iquartic Offering
On average, startups in the Other Technology sector, sell 85.80% of the total offering amount. Iquartic sold 67.50% of the offering. The fundraising is still open. The average offering amount for companies in the Other Technology industry is $1.54 million. The offering was 47.40% smaller than the average of $1.54 million. Of course this should not be seen as negative. Companies get financed for a variety of 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 Iquartic Also
The Form D signed by Ze Jiang might help Iquartic, 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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