Asana Medical Financing
Asana Medical, Inc., Corporation just submitted form D announcing $1.45 million debt financing. The date of first sale was 2014-09-30. Asana Medical was able to sell $1.45 million. That is 100.00% of the fundraising offer. The total financing amount was $1.45 million. The fundraising form was filed on 2016-11-07. The reason for the financing was: The 12% convertible notes and warrant offering was expanded from $750,000 to $1,452,460. These notes were converted in June 2016 to Series A Preferred Shares..
Asana Medical is based in Florida. The firm’s business is Biotechnology. The SEC form was submitted by Gerard S Coombs COO. The company was incorporated in 2013. The filler’s address is: 6135 Nw 167Th Street, Suite: E-15, Miami Lakes, Fl, Florida, 33015. Gary Ramphal is the related person in the form and it has address: 6135 Nw 167Th Street, Suite E15, Miami Lakes, Fl, Florida, 33015. Link to Asana Medical Filing: 000162541116000002.
Analysis of Asana Medical Offering
On average, companies in the Biotechnology sector, sell 73.77% of the total offering size. Asana Medical sold 100.00% of the offering. Could this mean that the trust in Asana Medical is high? The average fundraising amount for companies in the Biotechnology industry is $3.08 million. The offering was 52.84% smaller than the average of $3.08 million. Of course this should not be seen as negative. Startups get financed for different needs and reasons. The minimum investment for this offering was set at $10000. 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 Asana Medical Also
The Form D signed by Gerard S Coombs might help Asana Medical, 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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