Kiio Inc., Corporation just submitted form D announcing $500,000 debt financing. This is a new filing. Kiio was able to sell $227,000 so far. That is 45.40% of the round of financing. The total fundraising amount was $500,000. The offering form was filed on 2016-07-13. The reason for the financing was: unspecified. The fundraising still has about $273,000 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Kiio is based in Wisconsin. The filler’s business is Other Technology. The SEC form was filed by David Grandin President. The company was incorporated in 2011. The filler’s address is: 2920 Marketplace Drive, Suite 203, Madison, Wi, Wisconsin, 53719. David Grandin is the related person in the form and it has address: 2920 Marketplace Drive, Suite 203, Madison, Wi, Wisconsin, 53719. Link to Kiio Filing: 000089271216001768.
Analysis of Kiio Offering
On average, companies in the Other Technology sector, sell 85.80% of the total offering amount. Kiio sold 45.40% 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 85.26% smaller than the average of $1.54 million. Of course this should not be taken as negative. Companies get financed for a variety of reasons and needs. The minimum investment for this financing was set at $25000. 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 Kiio Also
The Form D signed by David Grandin might help Kiio 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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