Innovega Inc., Corporation just released form D regarding $1.75 million debt financing. The date of first sale was 2015-04-08. Innovega was able to fundraise $725,000 so far. That is 41.43% of the financing round. The total private financing amount was $1.75 million. The form was filed on 2016-11-01. The reason for the financing was: The Total Offering Amount has been reduced by $1,099,953 in connection with sales made under Regulation S.. The fundraising still has about $1.03 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Innovega is based in Washington. The company’s business is Other Technology. The SEC form was signed by Stephen Willey President & Chief Executive Officer. The company was incorporated more than five years ago. The filler’s address is: 11900 Ne 1St Street, Suite 300, Bellevue, Wa, Washington, 98005. Stephen Willey is the related person in the form and it has address: 11900 Ne 1St Street, Suite 300, Bellevue, Wa, Washington, 98005. Link to Innovega Filing: 000147423216000003.
Analysis of Innovega Offering
On average, firms in the Other Technology sector, sell 85.80% of the total offering amount. Innovega sold 41.43% of the offering. The fundraising is still open. The average fundraising amount for companies in the Other Technology industry is $1.54 million. The offering was 52.92% smaller than the average of $1.54 million. Of course this should not be taken as negative. Firms get financed for a variety of reasons and needs. The minimum investment for this financing is 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 Innovega Also
The Form D signed by Stephen Willey might help Innovega 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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