Spicy Pie Financing
Spicy Pie, Llc, Limited Liability Company just filed form D because of $500,000 equity and debt financing. This is a new filing. Spicy Pie, Llc is expected to fundraise $500,000 in this fundraising. The total financing amount was $500,000. The financing document was filed on 2016-11-14. The reason for the financing was: unspecified. The fundraising still has about $500,000 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Spicy Pie is based in North Dakota. The firm’s business is Restaurants. The D form was signed by Todd Berning Secretary. The company was incorporated more than five years ago. The filler’s address is: 400 10Th Street Se, Minot, Nd, North Dakota, 58701. Todd Berning is the related person in the form and it has address: 400 10Th Street Se, Minot, Nd, North Dakota, 58701. Link to Spicy Pie Filing: 000169002716000001.
Analysis of Spicy Pie Offering
On average, startups in the Restaurants sector, sell 99.00% of the total offering amount. Spicy Pie sold 0.00% of the offering. The financing is still open. The average offering amount for companies in the Restaurants industry is $302,000. The offering was 100.00% smaller than the average of $302,000. Of course this should not be interpreted as negative. Companies raise funds for different reasons and needs. The minimum investment for this fundraising is 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 Spicy Pie Also
The Form D signed by Todd Berning might help Spicy Pie, Llc’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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