Everquote, Inc., Corporation just filed form D about $31.12 million equity financing. This is a new filing. Everquote was able to sell $31.12 million. That is 100.00% of the offering. The total private offering amount was $31.12 million. This form was filed on 2016-11-09. The reason for the financing was: A portion of the gross proceeds from the offering may be used to repurchase shares of common stock from Related Persons named in Item 3 or affiliates of such Related Persons..
Everquote is based in Massachusetts. The firm’s business is Other Technology. The SEC form was submitted by David Mason General Counsel of the Issuer. The company was incorporated more than five years ago. The filler’s address is: 210 Broadway, Cambridge, Ma, Massachusetts, 02139. Seth N. Birnbaum is the related person in the form and it has address: C/O Everquote, Inc., 210 Broadway, Cambridge, Ma, Massachusetts, 02139. Link to Everquote Filing: 000114036116085594.
Analysis of Everquote Offering
On average, firms in the Other Technology sector, sell 85.80% of the total offering size. Everquote sold 100.00% of the offering. Could this mean that the trust in Everquote is high? The average fundraising amount for companies in the Other Technology industry is $1.54 million. The total amount raised is 1,920.73% bigger than the average for companies in the Other Technology 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 Everquote Also
The Form D signed by David Mason might help Everquote, 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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