Efilecabinet, Inc., Corporation just had published form D because of $8.70 million equity financing. This is a new filing. Efilecabinet was able to finance itself with $5.90 million so far. That is 67.85% of the fundraising offer. The total fundraising amount was $8.70 million. The form was filed on 2016-11-22. The reason for the financing was: unspecified. The fundraising still has about $2.80 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Efilecabinet is based in Utah. The filler’s business is Other Technology. The form D was filed by Jesse Wood Chief Executive Officer. The company was incorporated more than five years ago. The filler’s address is: 3300 N. Ashton Blvd, Suite 400, Lehi, Ut, Utah, 84043. Jesse Wood is the related person in the form and it has address: 3300 North Ashton Blvd, Suite 400, Lehi, Ut, Utah, 84043. Link to Efilecabinet Filing: 000164108816000003.
Analysis of Efilecabinet Offering
On average, startups in the Other Technology sector, sell 85.80% of the total offering size. Efilecabinet sold 67.85% of the offering. The fundraising is still open. The average investment floor size for companies in the Other Technology industry is $1.54 million. The total amount raised is 283.12% bigger than the average for companies in the Other Technology sector. 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 Efilecabinet Also
The Form D signed by Jesse Wood might help Efilecabinet, 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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