Closys Corp, Corporation just had published form D regarding $500,000 debt financing. This is a new filing. Closys was able to fundraise $30,000 so far. That is 6.00% of the round of financing. The total fundraising amount was $500,000. The form was filed on 2016-11-14. The reason for the financing was: unspecified. The fundraising still has about $470,000 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Closys is based in Minnesota. The firm’s business is Other Health Care. The D form was signed by Dennis McFadden CEO. The company was incorporated more than five years ago. The filler’s address is: 12800 Whitewater Dr, Suite 100, Minnetonka, Mn, Minnesota, 55343. Dennis Mcfadden is the related person in the form and it has address: 12800 Whitewater Dr, Minnetonka, Mn, Minnesota, 55343. Link to Closys Filing: 000136211816000056.
Analysis of Closys Offering
On average, firms in the Other Health Care sector, sell 68.60% of the total offering size. Closys sold 6.00% of the offering. The financing is still open. The average financing size for companies in the Other Health Care industry is $1.16 million. The offering was 97.41% smaller than the average of $1.16 million. Of course this should not be seen as negative. Firms get financed for different reasons and needs. The minimum investment for this financing was 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 Closys Also
The Form D signed by Dennis McFadden might help Closys 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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