Great Basin Scientific Financing
Great Basin Scientific, Inc., Corporation just filed form D regarding $188.51 million debt financing. This is a new filing. Great Basin Scientific was able to sell $68.00 million so far. That is 36.07% of the fundraising offer. The total offering amount was $188.51 million. The fundraising form was filed on 2016-07-13. The reason for the financing was: (b) represents discounted secured convertible notes with a principal aggregate amount of $75M; (c) represents exercise price of Series H warrants calculated at $2.08 per share.. The fundraising still has about $120.51 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Great Basin Scientific is based in Utah. The company’s business is Other Health Care. The SEC form was submitted by Jeffrey Rona Chief Financial Officer & Corporate Secretary. The company was incorporated more than five years ago. The filler’s address is: 420 E. South Temple, Suite 520, Salt Lake City, Ut, Utah, 84111. Ryan Ashton is the related person in the form and it has address: 420 E. South Temple, Suite 520, Salt Lake City, Ut, Utah, 84111. Link to Great Basin Scientific Filing: 000114036116072399.
Analysis of Great Basin Scientific Offering
On average, firms in the Other Health Care sector, sell 68.60% of the total offering size. Great Basin Scientific sold 36.07% of the offering. The financing is still open. The average offering amount for companies in the Other Health Care industry is $1.16 million. The total amount raised is 5,762.07% bigger than the average for companies in the Other Health Care sector. The minimum investment for this fundraising is 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 Great Basin Scientific Also
The Form D signed by Jeffrey Rona might help Great Basin Scientific, 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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