Today’s Form D On Watch: Spritz Technology $1.50 million Fundraising. James C Locke Filed Oct 19 D form

Technology Spritz Technology, Inc. - James C Locke

Spritz Technology Financing

Spritz Technology, Inc., Corporation just filed form D because of $1.50 million equity financing. This is a new filing. Spritz Technology was able to fundraise $100,000 so far. That is 6.67% of the fundraising offer. The total private financing amount was $1.50 million. This form was filed on 2016-10-19. The reason for the financing was: unspecified. The fundraising still has about $1.40 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.

Spritz Technology is based in Massachusetts. The firm’s business is Other Technology. The form was signed by James C Locke President. The company was incorporated in 2012. The filler’s address is: 2223 S. Highland Dr., Suite E6-251, Salt Lake City, Ut, Utah, 84018. Marcy Simon is the related person in the form and it has address: Spritz Technology, Inc., 607 North Avenue, Suite 12, Wakefield, Ma, Massachusetts, 01880. Link to Spritz Technology Filing: 000160207016000004.

Analysis of Spritz Technology Offering

On average, firms in the Other Technology sector, sell 85.80% of the total offering size. Spritz Technology sold 6.67% of the offering. The financing is still open. The average investment floor size for companies in the Other Technology industry is $1.54 million. The offering was 93.51% smaller than the average of $1.54 million. Of course this should not be interpreted as negative. Companies get financed for different reasons and needs. The minimum investment for this fundraising 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 Spritz Technology Also

The Form D signed by James C Locke might help Spritz Technology, 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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