Form D Watching: Epic Health $3.00 million Fundraising. Michael E Banks Filed Nov 2 Form D

Technology Epic Health, Llc - Michael E Banks

Epic Health Financing

Epic Health, Llc, Limited Liability Company just filed form D about $3.00 million equity financing. This is a new filing. Epic Health was able to fundraise $15,000 so far. That is 0.50% of the offering. The total private offering amount was $3.00 million. The financing document was filed on 2016-11-02. The reason for the financing was: This is a best efforts offering with no minimum amount that must be sold.. The fundraising still has about $2.99 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.

Epic Health is based in Florida. The company’s business is Other Technology. The form D was signed by Michael E Banks Attorney-In-Fact. The company was incorporated in 2015. The filler’s address is: 1951 Nw 7Th Avenue, Suite 300, Miami, Fl, Florida, 33136. Matthew J. Wanderer is the related person in the form and it has address: 1951 Nw 7Th Avenue, Suite 300, Miami, Fl, Florida, 33136. Link to Epic Health Filing: 000168881316000003.

Analysis of Epic Health Offering

On average, startups in the Other Technology sector, sell 85.80% of the total offering size. Epic Health sold 0.50% of the offering. The financing is still open. The average fundraising size for companies in the Other Technology industry is $1.54 million. The offering was 99.03% smaller than the average of $1.54 million. Of course this should not be seen as negative. Firms get financed for different needs and reasons. The minimum investment for this financing is set at $15000. 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 Epic Health Also

The Form D signed by Michael E Banks might help Epic Health, Llc’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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