Garmentory Inc., Corporation just submitted form D regarding $2.00 million equity financing. This is a new filing. Garmentory was able to finance itself with $1.30 million so far. That is 65.00% of the round of financing. The total private offering amount was $2.00 million. The offering form was filed on 2016-11-18. The reason for the financing was: unspecified. The fundraising still has about $700,000 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Garmentory is based in Washington. The firm’s business is Retailing. The D form was filed by John Scrofano CEO. The company was incorporated in 2014. The filler’s address is: 1100 Northeast Campus Parkway, Fl 2, Seattle, Wa, Washington, 98105. Sunil Gowda is the related person in the form and it has address: 1100 Northeast Campus Parkway, Fl 2, Seattle, Wa, Washington, 98105. Link to Garmentory Filing: 000165990816000002.
Analysis of Garmentory Offering
On average, firms in the Retailing sector, sell 71.70% of the total offering size. Garmentory sold 65.00% of the offering. The financing is still open. The average fundraising amount for companies in the Retailing industry is $45,600. The total amount raised is 2,750.88% bigger than the average for companies in the Retailing sector. The minimum investment for this fundraising was set at $0. 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 Garmentory Also
The Form D signed by John Scrofano might help Garmentory 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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