Sernova Corp., Corporation just submitted form D about $25,367 equity financing. This is a new filing. Sernova was able to sell $10,570 so far. That is 41.67% of the fundraising offer. The total offering amount was $25,367. This form was filed on 2016-07-12. The reason for the financing was: Total Offering Amount represents the price of the units (55,000 units @ C$0.25), plus the aggregate exercise price of the warrants forming part of the units (55,000 warrants @ C$0.35), converted to US$.. The fundraising still has about $14,797 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Sernova is based in Ontario – Canada. The filler’s business is Biotechnology. The SEC form was submitted by RALPH DEITERDING CFO. The company was incorporated more than five years ago. The filler’s address is: 120-700 Collip Circle, London, A6, Ontario, Canada, N6g 4X8. Philip M Toleikis is the related person in the form and it has address: 120-700 Collip Circle, London, A6, Ontario, Canada, N6g 4X8. Link to Sernova Filing: 000118374016000390.
Analysis of Sernova Offering
On average, companies in the Biotechnology sector, sell 73.77% of the total offering amount. Sernova sold 41.67% of the offering. The financing is still open. The average offering amount for companies in the Biotechnology industry is $3.08 million. The offering was 99.66% smaller than the average of $3.08 million. Of course this should not be seen as negative. Firms raise funds for different reasons and needs. The minimum investment for this fundraising 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 Sernova Also
The Form D signed by RALPH DEITERDING might help Sernova Corp.’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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