Section.Io Inc, Corporation just filed form D because of $1.50 million equity financing. The date of first sale was 2016-03-09. Section.Io was able to finance itself with $1.50 million. That is 100.00% of the financing round. The total private financing amount was $1.50 million. The offering form was filed on 2016-07-12. The reason for the financing was: unspecified. The fundraising still has about $6 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Section.Io is based in Colorado. The company’s business is Other Technology. The form was signed by Stewart McGrath Chief Executive Officer. The company was incorporated in 2016. The filler’s address is: 1215 Spruce Street, Suite 201, Boulder, Co, Colorado, 80302. Stewart Mcgrath is the related person in the form and it has address: C/O Section.Io Incorporated, 1215 Spruce Street, Suite 201, Boulder, Co, Colorado, 80302. Link to Section.Io Filing: 000166959516000003.
Analysis of Section.Io Offering
On average, firms in the Other Technology sector, sell 85.80% of the total offering amount. Section.Io sold 100.00% of the offering. The fundraising is still open. Could this mean that the trust in Section.Io is high? The average investment floor size for companies in the Other Technology industry is $1.54 million. The offering was 2.60% smaller than the average of $1.54 million. Of course this should not be interpreted as negative. Startups get financed for different reasons and needs. The minimum investment for this financing is set at $0. If you know more about the reasons for the financing, 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 Section.Io Also
The Form D signed by Stewart McGrath might help Section.Io 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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