Saranas Inc., Corporation just submitted form D announcing $3.50 million equity financing. The date of first sale was 2016-03-18. Saranas was able to fundraise $1.43 million so far. That is 40.79% of the fundraising offer. The total private offering amount was $3.50 million. The form was filed on 2016-07-11. The reason for the financing was: unspecified. The fundraising still has about $2.07 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Saranas is based in Texas. The filler’s business is Other Health Care. The SEC form was signed by Michael Magnani CEO. The company was incorporated in 2013. The filler’s address is: 2450 Holcombe Blvd, Suite X, Houston, Tx, Texas, 77021. Michael Magnani is the related person in the form and it has address: 2450 Holcombe Blvd, Suite X, Houston, Tx, Texas, 77021. Link to Saranas Filing: 000161546116000005.
Analysis of Saranas Offering
On average, firms in the Other Health Care sector, sell 68.60% of the total offering size. Saranas sold 40.79% of the offering. The fundraising is still open. The average investment floor size for companies in the Other Health Care industry is $1.16 million. The total amount raised is 23.06% bigger than the average for companies in the Other Health Care sector. The minimum investment for this fundraising was set at $5000. 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 Saranas Also
The Form D signed by Michael Magnani might help Saranas 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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