Somerset Reinsurance Financing
Somerset Reinsurance Ltd., Corporation just released form D about $400.00 million equity financing. This is a new filing. Somerset Reinsurance was able to sell $276.39 million so far. That is 69.10% of the financing round. The total offering amount was $400.00 million. The financing document was filed on 2016-11-03. The reason for the financing was: unspecified. The fundraising still has about $123.61 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Somerset Reinsurance is based in Bermuda. The company’s business is Insurance. The form was filed by Patrick B Kelleher Chief Executive Officer. The company was incorporated in 2014. The filler’s address is: 30 Woodbourne Avenue, Pembroke, D0, Bermuda, Hm 08. Patrick Kelleher is the related person in the form and it has address: 30 Woodbourne Avenue, Pembroke, D0, Bermuda, Hm 08. Link to Somerset Reinsurance Filing: 000163212516000003.
Analysis of Somerset Reinsurance Offering
On average, firms in the Insurance sector, sell 70.00% of the total offering size. Somerset Reinsurance sold 69.10% of the offering. The fundraising is still open. The average fundraising amount for companies in the Insurance industry is $996,000. The total amount raised is 27,650.02% bigger than the average for companies in the Insurance sector. The minimum investment for this fundraising was 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 Somerset Reinsurance Also
The Form D signed by Patrick B Kelleher might help Somerset Reinsurance Ltd.’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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