Form D Filing: Booknook $1.00 million Fundraising. Michael Lombardo Filed Nov 10 Filing

Technology Booknook Inc. - Michael Lombardo

Booknook Financing

Booknook Inc., Corporation just had published form D for $1.00 million debt financing. This is a new filing. Booknook was able to finance itself with $300,000 so far. That is 30.00% of the financing round. The total private financing amount was $1.00 million. The fundraising form was filed on 2016-11-10. The reason for the financing was: unspecified. The fundraising still has about $700,000 more and is not closed yet. We have to wait more to see if the offering will be fully taken.

Booknook is based in Alabama. The filler’s business is Other Technology. The form D was filed by Michael Lombardo President. The company was incorporated in 2016. The filler’s address is: 956 Euclid Avenue, Berkeley, Ca, California, 94708. Michael Lombardo is the related person in the form and it has address: 956 Euclid Avenue, Berkeley, Ca, California, 94708. Link to Booknook Filing: 000168993116000001.

Analysis of Booknook Offering

On average, startups in the Other Technology sector, sell 85.80% of the total offering size. Booknook sold 30.00% of the offering. The financing is still open. The average fundraising size for companies in the Other Technology industry is $1.54 million. The offering was 80.52% smaller than the average of $1.54 million. Of course this should not be seen as negative. Startups raise funds for different reasons and needs. The minimum investment for this financing was set at $50000. 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 Booknook Also

The Form D signed by Michael Lombardo might help Booknook 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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