Form D: Utrip $6.17 million Fundraising. Gilad Berenstein Published Nov 4 SEC Filing

Technology Utrip, Inc. - Gilad Berenstein

Utrip Financing

Utrip, Inc., Corporation just released form D because of $6.17 million equity financing. This is a new filing. Utrip was able to sell $3.42 million so far. That is 55.42% of the financing offer. The total financing amount was $6.17 million. The form was filed on 2016-11-04. The reason for the financing was: unspecified. The fundraising still has about $2.75 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.

Utrip is based in Washington. The company’s business is Other Technology. The form D was filed by Gilad Berenstein Chief Executive Officer. The company was incorporated in 2012. The filler’s address is: 530 4Th Avenue West, Unit 301, Seattle, Wa, Washington, 98119. Gilad Berenstein is the related person in the form and it has address: 530 4Th Avenue West, Unit 301, Seattle, Wa, Washington, 98119. Link to Utrip Filing: 000155916416000002.

Analysis of Utrip Offering

On average, firms in the Other Technology sector, sell 85.80% of the total offering size. Utrip sold 55.42% of the offering. The fundraising is still open. The average investment floor size for companies in the Other Technology industry is $1.54 million. The total amount raised is 121.98% bigger than the average for companies in the Other Technology sector. The minimum investment for this fundraising is 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 Utrip Also

The Form D signed by Gilad Berenstein might help Utrip, 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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