Medocity, Inc., Corporation just submitted form D announcing $1.50 million debt financing. This is a new filing. Medocity was able to finance itself with $675,000 so far. That is 45.00% of the financing round. The total fundraising amount was $1.50 million. The private financing document was filed on 2016-10-17. The reason for the financing was: unspecified. The fundraising still has about $825,000 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Medocity is based in New Jersey. The firm’s business is Other Health Care. The form was signed by Raj Agarwal President. The company was incorporated in 2013. The filler’s address is: 1 Upper Pond Road, Building D, 3Rd Floor, Parsippany, Nj, New Jersey, 07054. Raj Agarwal is the related person in the form and it has address: 1 Upper Pond Road, Building D, 3Rd Floor, Parsippany, Nj, New Jersey, 07054. Link to Medocity Filing: 000157615816000003.
Analysis of Medocity Offering
On average, companies in the Other Health Care sector, sell 68.60% of the total offering amount. Medocity sold 45.00% of the offering. The fundraising is still open. The average fundraising size for companies in the Other Health Care industry is $1.16 million. The offering was 41.81% smaller than the average of $1.16 million. Of course this should not be seen as negative. Companies get financed for different needs and reasons. The minimum investment for this offering 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 Medocity Also
The Form D signed by Raj Agarwal might help Medocity, 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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