Spineology Inc, Corporation just submitted form D regarding $7.50 million debt financing. The date of first sale was 2016-08-24. Spineology was able to sell $2.63 million so far. That is 35.07% of the fundraising offer. The total private offering amount was $7.50 million. The form was filed on 2016-11-14. The reason for the financing was: Excludes standard compensation for officers.. The fundraising still has about $4.87 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Spineology is based in Minnesota. The company’s business is Biotechnology. The form was filed by John J Booth Chief Executive Officer. The company was incorporated more than five years ago. The filler’s address is: 7800 3Rd Street North, Suite 600, St. Paul, Mn, Minnesota, 55128. John J. Booth is the related person in the form and it has address: 7800 3Rd Street North, Suite 600, St. Paul, Mn, Minnesota, 55128. Link to Spineology Filing: 000116584216000004.
Analysis of Spineology Offering
On average, companies in the Biotechnology sector, sell 73.77% of the total offering size. Spineology sold 35.07% of the offering. The fundraising is still open. The average offering size for companies in the Biotechnology industry is $3.08 million. The offering was 14.61% smaller than the average of $3.08 million. Of course this should not be taken as negative. Companies get financed for different needs and reasons. The minimum investment for this offering is set at $25000. 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 Spineology Also
The Form D signed by John J Booth might help Spineology 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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