Biohitech Global Financing
Biohitech Global, Inc., Corporation just filed form D announcing $7.50 million equity and debt financing. This is a new filing. Biohitech Global, Inc. is expected to sell $7.50 million in this financing offer. The total fundraising amount was $7.50 million. This form was filed on 2016-11-10. The reason for the financing was: The securities are being offered by the officers and directors of the issuer without additional compensation, though the Issuer may choose to engage a placement agent or broker at a later time. If it chooses to do so, this notice will be amended.. The fundraising still has about $7.50 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Biohitech Global is based in New York. The firm’s business is Other Technology. The D form was submitted by Brian C Essman CFO & Treasurer. The company was incorporated in 2013. The filler’s address is: 80 Red Schoolhouse Road, Suite 101, Chestnut Ridge, Ny, New York, 10977. Frank E Celli is the related person in the form and it has address: 80 Red Schoolhouse Road, Suite 101, Chestnut Ridge, Ny, New York, 10977. Link to Biohitech Global Filing: 000159038316000007.
Analysis of Biohitech Global Offering
On average, companies in the Other Technology sector, sell 85.80% of the total offering size. Biohitech Global sold 0.00% of the offering. The fundraising is still open. The average offering size for companies in the Other Technology industry is $1.54 million. The offering was 100.00% 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 offering was set at $25000. 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 Biohitech Global Also
The Form D signed by Brian C Essman might help Biohitech Global, 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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