Form D: Illumitex $5.02 million Fundraising. Jeffrey Bisberg Released Nov 10 SEC form

Technology Illumitex, Inc. - Jeffrey Bisberg

Illumitex Financing

Illumitex, Inc., Corporation just filed form D because of $5.02 million equity financing. This is a new filing. Illumitex was able to finance itself with $4.00 million so far. That is 79.67% of the round of financing. The total fundraising amount was $5.02 million. The financing form was filed on 2016-11-10. The reason for the financing was: unspecified. The fundraising still has about $1.02 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.

Illumitex is based in Texas. The company’s business is Other Technology. The form D was signed by Jeffrey Bisberg Chief Executive Officer. The company was incorporated more than five years ago. The filler’s address is: 6301 East Stassney Lane, Bldg. 6, Suite 400, Austin, Tx, Texas, 78744. Jeffrey Bisberg is the related person in the form and it has address: 6301 East Stassney Lane, Bldg. 6, Suite 400, Austin, Tx, Texas, 78744. Link to Illumitex Filing: 000147391116000002.

Analysis of Illumitex Offering

On average, firms in the Other Technology sector, sell 85.80% of the total offering size. Illumitex sold 79.67% of the offering. The financing is still open. The average offering size for companies in the Other Technology industry is $1.54 million. The total amount raised is 159.51% 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 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 Illumitex Also

The Form D signed by Jeffrey Bisberg might help Illumitex, 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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