Brainfights, Inc., Corporation just submitted form D about $13.38 million equity financing. This is a new filing. Brainfights was able to finance itself with $12.75 million. That is 95.28% of the offering. The total private financing amount was $13.38 million. The private financing document was filed on 2016-11-21. The reason for the financing was: This filing covers the sale and issuance of the Series A Preferred Stock and the underlying common stock issuable upon conversion of such preferred stock.. The fundraising still has about $631,173 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Brainfights is based in California. The filler’s business is not disclosed. The SEC form was submitted by Tigran Sloyan CEO and President. The company was incorporated in 2015. The filler’s address is: 115 Sansome St Ste 700, San Francisco, Ca, California, 94104. Tigran Sloyan is the related person in the form and it has address: 115 Sansome St Ste 700, San Francisco, Ca, California, 94104. Link to Brainfights Filing: 000163936916000004.
Analysis of Brainfights Offering
On average, startups in the not disclosed sector, sell 67.77% of the total offering amount. Brainfights sold 95.28% of the offering. The financing is still open. Could this mean that the trust in Brainfights is high? The average offering amount for companies in all industries in our database is $3.05 million. The total amount raised is 317.98% bigger than the average for companies in the database. 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 Brainfights Also
The Form D signed by Tigran Sloyan might help Brainfights, 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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