Ando Food Financing
Ando Food, Inc., Corporation just released form D for $10.10 million equity financing. This is a new filing. Ando Food was able to fundraise $9.65 million. That is 95.59% of the round of financing. The total fundraising amount was $10.10 million. The form was filed on 2016-11-01. The reason for the financing was: $5,105,561.66 of the offering consists of outstanding promissory notes converted intoPreferred Shares.. The fundraising still has about $445,442 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Ando Food is based in California. The firm’s business is Other Technology. The form was signed by Hooman Radfar Chief Executive Officer. The company was incorporated in 2015. The filler’s address is: 660 4Th Street, #193, San Francisco, Ca, California, 94107. Hooman Radfar is the related person in the form and it has address: 660 4Th Street, #193, San Francisco, Ca, California, 94107. Link to Ando Food Filing: 000168600316000001.
Analysis of Ando Food Offering
On average, companies in the Other Technology sector, sell 85.80% of the total offering size. Ando Food sold 95.59% of the offering. The financing is still open. Could this mean that the trust in Ando Food is high? The average investment size for companies in the Other Technology industry is $1.54 million. The total amount raised is 526.92% bigger than the average for companies in the Other Technology sector. The minimum investment for this fundraising was set at $0. If you know more about the reasons for the fundraising, 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 Ando Food Also
The Form D signed by Hooman Radfar might help Ando Food, 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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