Form D Report: Smart Alec $699999 Financing. Nathan Kane Published Nov 4 D Form

Technology Smart Alec, Inc. - Nathan Kane

Smart Alec Financing

Smart Alec, Inc., Corporation just released form D for $699,999 equity financing. This is a new filing. Smart Alec was able to sell $615,140. That is 87.88% of the financing round. The total financing amount was $699,999. The offering form was filed on 2016-11-04. The reason for the financing was: Total Offering Amount: $699,999.97Total Amount Sold: $615,140.18Total Remaining to be Sold: $84,859.79. The fundraising still has about $84,859 more and is not closed yet. We have to wait more to see if the offering will be fully taken.

Smart Alec is based in New York. The filler’s business is Other Technology. The SEC form was signed by Nathan Kane President and Chief Executive Officer. The company was incorporated in 2015. The filler’s address is: 946 Fulton Street, Apt. 6, Brooklyn, Ny, New York, 11238. Nathan Kane is the related person in the form and it has address: C/O Smart Alec, Inc., 946 Fulton Street, Apt. 6, Brooklyn, Ny, New York, 11238. Link to Smart Alec Filing: 000168876916000001.

Analysis of Smart Alec Offering

On average, firms in the Other Technology sector, sell 85.80% of the total offering amount. Smart Alec sold 87.88% of the offering. The financing is still open. Could this mean that the trust in Smart Alec is high? The average financing size for companies in the Other Technology industry is $1.54 million. The offering was 60.06% 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 was set at $1. 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 Smart Alec Also

The Form D signed by Nathan Kane might help Smart Alec, 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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