Reliantheart Inc., Corporation just released form D about $16.00 million equity financing. The date of first sale was 2015-10-16. Reliantheart was able to sell $3.86 million so far. That is 24.11% of the round of financing. The total private financing amount was $16.00 million. The form was filed on 2016-11-14. The reason for the financing was: In the event that the offering is over-subscribed, the Issuer has the option to increase the size of the offering by an additional $4,000,000.. The fundraising still has about $12.14 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Reliantheart is based in Texas. The firm’s business is Other Health Care. The form was signed by Salesh Saxena President. The company was incorporated in 2013. The filler’s address is: 8965 Interchange Drive, Houston, Tx, Texas, 77054. Rodger Ford is the related person in the form and it has address: 1650 N Kolb Road Suite 132, Tucson, Az, Arizona, 85715. Link to Reliantheart Filing: 000158624016000003.
Analysis of Reliantheart Offering
On average, startups in the Other Health Care sector, sell 68.60% of the total offering size. Reliantheart sold 24.11% of the offering. The fundraising is still open. The average financing size for companies in the Other Health Care industry is $1.16 million. The total amount raised is 232.49% bigger than the average for companies in the Other Health Care sector. The minimum investment for this fundraising was set at $10000. 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 Reliantheart Also
The Form D signed by Salesh Saxena might help Reliantheart 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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