Borrowed & Blue Financing
Borrowed & Blue, Inc., Corporation just submitted form D for $7.00 million equity financing. This is a new filing. Borrowed & Blue was able to sell $6.67 million. That is 95.22% of the financing offer. The total financing amount was $7.00 million. The offering form was filed on 2016-11-03. The reason for the financing was: A portion of the total amount sold includes conversion of outstanding convertible promissory notes.. The fundraising still has about $334,628 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Borrowed & Blue is based in Virginia. The company’s business is not disclosed. The SEC form was filed by Adam Raymond Healey Chief Executive Officer. The company was incorporated in 2015. The filler’s address is: 206 E. Market Street, Charlottesville, Va, Virginia, 22902. Adam Raymond Healey is the related person in the form and it has address: C/O Borrowed & Blue, Inc., 206 E. Market Street, Charlottesville, Va, Virginia, 22902. Link to Borrowed & Blue Filing: 000164595616000002.
Analysis of Borrowed & Blue Offering
On average, firms in the not disclosed sector, sell 67.77% of the total offering amount. Borrowed & Blue sold 95.22% of the offering. The fundraising is still open. Could this mean that the trust in Borrowed & Blue is high? The average fundraising size for companies in all industries in our database is $3.05 million. The total amount raised is 118.54% bigger than the average for companies in the database. 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 Borrowed & Blue Also
The Form D signed by Adam Raymond Healey might help Borrowed & Blue, 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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