Sunshine Heart Financing
Sunshine Heart, Inc., Corporation just submitted form D because of $3.60 million equity financing. This is a new filing. Sunshine Heart was able to fundraise $3.60 million. That is 100.00% of the offering. The total financing amount was $3.60 million. The financing form was filed on 2016-11-08. The reason for the financing was: Total offering amount includes the concurrent registered offering of preferred stock and excludes proceeds totaling up to $3,811,765 from the exercise of the warrants..
Sunshine Heart is based in Minnesota. The firm’s business is Biotechnology. The form D was signed by Claudia Drayton Chief Financial Officer. The company was incorporated more than five years ago. The filler’s address is: 12988 Valley View Road, Eden Prairie, Mn, Minnesota, 55344. John L. Erb is the related person in the form and it has address: 12988 Valley View Road, Eden Prairie, Mn, Minnesota, 55344. Link to Sunshine Heart Filing: 000150649216000002.
Analysis of Sunshine Heart Offering
On average, companies in the Biotechnology sector, sell 73.77% of the total offering amount. Sunshine Heart sold 100.00% of the offering. Could this mean that the trust in Sunshine Heart is high? The average investment floor size for companies in the Biotechnology industry is $3.08 million. The total amount raised is 16.88% bigger than the average for companies in the Biotechnology 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 Sunshine Heart Also
The Form D signed by Claudia Drayton might help Sunshine Heart, 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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