Algal Scientific Financing
Algal Scientific Corp, Corporation just submitted form D because of $4.00 million debt financing. This is a new filing. Algal Scientific was able to finance itself with $600,000 so far. That is 15.00% of the fundraising. The total offering amount was $4.00 million. The financing form was filed on 2016-07-14. The reason for the financing was: unspecified. The fundraising still has about $3.40 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Algal Scientific is based in Illinois. The firm’s business is Manufacturing. The form D was submitted by John Tucker CEO. The company was incorporated more than five years ago. The filler’s address is: 14925 Galleon Court, Plymouth, Mi, Michigan, 48170. Geoffrey Horst is the related person in the form and it has address: 14925 Galleon Court, Plymouth, Mi, Michigan, 48170. Link to Algal Scientific Filing: 000165352816000024.
Analysis of Algal Scientific Offering
On average, companies in the Manufacturing sector, sell 59.50% of the total offering size. Algal Scientific sold 15.00% of the offering. The financing is still open. The average fundraising size for companies in the Manufacturing industry is $763,000. The offering was 21.36% smaller than the average of $763,000. Of course this should not be seen as negative. Startups get financed for a variety of reasons and needs. The minimum investment for this financing was 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 Algal Scientific Also
The Form D signed by John Tucker might help Algal Scientific 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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