Protea Biosciences Group Financing
Protea Biosciences Group, Inc., Corporation just released form D regarding $5.00 million equity financing. This is a new filing. Protea Biosciences Group was able to finance itself with $631,680 so far. That is 12.63% of the round of financing. The total fundraising amount was $5.00 million. The offering form was filed on 2016-11-17. The reason for the financing was: Included in the sales commission is a non-accountable expense allowance. Laidlaw also received three-year warrants to purchase 2,278,720 shares of common stock of the Issuer, with an exercise price of $0.09 per share.. The fundraising still has about $4.37 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Protea Biosciences Group is based in West Virginia. The company’s business is Biotechnology. The form D was signed by Stephen A Turner CEO, Chairman of the Board. The company was incorporated more than five years ago. The filler’s address is: 1311 Pineview Drive, Suite 501, Morgantown, Wv, West Virginia, 26505. Stephen A. Turner is the related person in the form and it has address: C/O Protea Biosciences Group, Inc., 1311 Pineview Drive, Suite 501, Morgantown, Wv, West Virginia, 26505. Link to Protea Biosciences Group Filing: 000114420416135202.
Analysis of Protea Biosciences Group Offering
On average, firms in the Biotechnology sector, sell 73.77% of the total offering size. Protea Biosciences Group sold 12.63% of the offering. The fundraising is still open. The average financing size for companies in the Biotechnology industry is $3.08 million. The offering was 79.49% smaller than the average of $3.08 million. Of course this should not be seen as negative. Businesses get financed for different reasons and needs. The minimum investment for this financing was set at $10000. 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 Protea Biosciences Group Also
The Form D signed by Stephen A Turner might help Protea Biosciences Group, 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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