8I Corp, Corporation just had published form D regarding $22.50 million equity financing. This is a new filing. 8I was able to fundraise $20.36 million. That is 90.50% of the offering. The total financing amount was $22.50 million. This form was filed on 2016-11-22. The reason for the financing was: Series B Preferred Stock. The fundraising still has about $2.14 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
8I is based in New York. The filler’s business is not disclosed. The form was signed by Toni Moyes Treasurer. The company was incorporated in 2015. The filler’s address is: 74 Cambridge Terrace, Wellington, Q2, New Zealand, 6011. Lincoln Gasking is the related person in the form and it has address: C/O 8I Corporation, 74 Cambridge Terrace, Wellington, Q2, New Zealand, 6011. Link to 8I Filing: 000168935116000002.
Analysis of 8I Offering
On average, companies in the not disclosed sector, sell 67.77% of the total offering size. 8I sold 90.50% of the offering. The fundraising is still open. Could this mean that the trust in 8I is high? The average fundraising size for companies in all industries in our database is $3.05 million. The total amount raised is 567.61% bigger than the average for companies in the database. The minimum investment for this offering 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 8I Also
The Form D signed by Toni Moyes might help 8I Corp’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.