Sol Boards Financing
Sol Boards, Inc., Corporation just filed form D regarding $200,000 debt financing. The date of first sale was 2016-10-06. Sol Boards was able to sell $47,892 so far. That is 23.95% of the offering. The total financing amount was $200,000. The financing document was filed on 2016-10-31. The reason for the financing was: Some money raised in this round may be used for general business purposes, including paying wages and reimbursing business expenses. Because some of the company’s officers are employees, some funds may be paid to them as wages or other compensation.. The fundraising still has about $152,108 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Sol Boards is based in Oregon. The firm’s business is not disclosed. The D form was filed by Jeff Dowell President. The company was incorporated in 2013. The filler’s address is: 18080 Wanona Road, Sisters, Or, Oregon, 97759. Jeff Dowell is the related person in the form and it has address: 61385 Meeks Trail, Bend, Or, Oregon, 97702. Link to Sol Boards Filing: 000157359116000009.
Analysis of Sol Boards Offering
On average, startups in the not disclosed sector, sell 67.77% of the total offering amount. Sol Boards sold 23.95% of the offering. The financing is still open. The average fundraising size for companies in all industries in our database is $3.05 million. The offering was 98.43% smaller than the average of $3.05 million. Of course this should not be interpreted as negative. Startups get financed for different needs and reasons. The minimum investment for this financing was set at $2651. 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 Sol Boards Also
The Form D signed by Jeff Dowell might help Sol Boards, 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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