Form D Worth Mentioning Today: Energtek $10.00 million Financing. Yoav Krill Published Oct 18 D Form

Oil And Gas Energtek Inc - Yoav Krill

Energtek Financing

Energtek Inc, Corporation just submitted form D for $10.00 million debt financing. This is a new filing. Energtek was able to finance itself with $1.00 million so far. That is 10.00% of the offering. The total private financing amount was $10.00 million. The offering form was filed on 2016-10-18. The reason for the financing was: Cash commission of 10% of gross proceeds, $25,000 expense fee; warrants to purchase 4 million shares of common stock for every $1 million of notes sold.. The fundraising still has about $9.00 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.

Energtek is based in New York. The filler’s business is Oil and Gas. The D form was submitted by Yoav Krill Chief Executive Officer and President. The company was incorporated more than five years ago. The filler’s address is: 1350 Avenue Of The Americas, New York, Ny, New York, 10019. Eliezer Sandberg is the related person in the form and it has address: 1350 Avenue Of The Americas, New York, Ny, New York, 10019. Link to Energtek Filing: 000147793216013016.

Analysis of Energtek Offering

On average, firms in the Oil and Gas sector, sell 13.77% of the total offering size. Energtek sold 10.00% of the offering. The financing is still open. The average financing size for companies in the Oil and Gas industry is $227,000. The total amount raised is 340.53% bigger than the average for companies in the Oil and Gas sector. The minimum investment for this offering is set at $100000. 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 Energtek Also

The Form D signed by Yoav Krill might help Energtek 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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