Finicity Corp, Corporation just released form D because of $36.03 million equity financing. This is a new filing. Finicity was able to sell $36.03 million. That is 100.00% of the fundraising. The total offering amount was $36.03 million. The private financing document was filed on 2016-10-31. The reason for the financing was: Proceeds are used for general corporate purposes. The executive officers will receive compensation from the Issuer’s revenues and investment proceeds..
Finicity is based in Utah. The firm’s business is Business Services. The form D was submitted by Steven Smith Chief Executive Officer. The company was incorporated more than five years ago. The filler’s address is: 120 W. Vine St., Ste. 2, Murray, Ut, Utah, 84107. Steven Smith is the related person in the form and it has address: 120 W. Vine St., Ste. 2, Murray, Ut, Utah, 84107. Link to Finicity Filing: 000160573816000001.
Analysis of Finicity Offering
On average, companies in the Business Services sector, sell 69.04% of the total offering size. Finicity sold 100.00% of the offering. Could this mean that the trust in Finicity is high? The average offering size for companies in the Business Services industry is $583,000. The total amount raised is 6,080.10% bigger than the average for companies in the Business Services sector. The minimum investment for this financing 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 Finicity Also
The Form D signed by Steven Smith might help Finicity Corp’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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