Micell Technologies Financing
Micell Technologies Inc, Corporation just filed form D for $30.00 million equity and debt financing. This is a new filing. Micell Technologies was able to fundraise $25.78 million. That is 85.92% of the offering. The total offering amount was $30.00 million. The offering form was filed on 2016-11-17. The reason for the financing was: unspecified. The fundraising still has about $4.23 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Micell Technologies is based in North Carolina. The firm’s business is Biotechnology. The form was submitted by Arthur J Benvenuto Chief Executive Officer. The company was incorporated more than five years ago. The filler’s address is: 801 Capitola Drive, Suite1, Durham, Nc, North Carolina, 27713. Arthur J. Benvenuto is the related person in the form and it has address: C/O Micell Technologies, Inc., 801 Capitola Drive, Suite 1, Durham, Nc, North Carolina, 27713. Link to Micell Technologies Filing: 000106036816000002.
Analysis of Micell Technologies Offering
On average, firms in the Biotechnology sector, sell 73.77% of the total offering amount. Micell Technologies sold 85.92% of the offering. The fundraising is still open. Could this mean that the trust in Micell Technologies is high? The average investment floor size for companies in the Biotechnology industry is $3.08 million. The total amount raised is 736.85% bigger than the average for companies in the Biotechnology sector. The minimum investment for this financing is 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 Micell Technologies Also
The Form D signed by Arthur J Benvenuto might help Micell Technologies 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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