Form D Worth Mentioning Today: Promis Neurosciences $296635 Fundraising. Janet Clennett Filed Oct 21 D Form

Biotechnology Promis Neurosciences Inc. - Janet Clennett

Promis Neurosciences Financing

Promis Neurosciences Inc., Corporation just had published form D because of $296,635 equity financing. The date of first sale was 2016-09-09. Promis Neurosciences was able to sell $206,310 so far. That is 69.55% of the fundraising. The total financing amount was $296,635. The fundraising form was filed on 2016-10-21. The reason for the financing was: Total Offering Amount equals the price of units (1,977,062 units @ C$0.135), plus the aggregate exercise price of warrants forming part of the units (494,267 warrants @ C$0.20) and finder warrants (90,000 @ C$0.20), converted to US$.. The fundraising still has about $90,325 more and is not closed yet. We have to wait more to see if the offering will be fully taken.

Promis Neurosciences is based in Ontario – Canada. The filler’s business is Biotechnology. The SEC form was submitted by Janet Clennett Director Finance, Acting CFO. The company was incorporated more than five years ago. The filler’s address is: Suite 200, 1920 Yonge Street, Toronto, A6, Ontario, Canada, M4s 3E2. Elliot Goldstein is the related person in the form and it has address: Suite 200, 1920 Yonge Street, Toronto, A6, Ontario, Canada, M4s 3E2. Link to Promis Neurosciences Filing: 000118374016000471.

Analysis of Promis Neurosciences Offering

On average, startups in the Biotechnology sector, sell 73.77% of the total offering size. Promis Neurosciences sold 69.55% of the offering. The financing is still open. The average investment floor size for companies in the Biotechnology industry is $3.08 million. The offering was 93.30% smaller than the average of $3.08 million. Of course this should not be interpreted as negative. Companies get financed for different reasons and needs. The minimum investment for this fundraising is 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 Promis Neurosciences Also

The Form D signed by Janet Clennett might help Promis Neurosciences 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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