Thorn Energy Financing
Thorn Energy Corp, Corporation just released form D announcing $500,000 equity financing. This is a new filing. Thorn Energy was able to finance itself with $147,500 so far. That is 29.50% of the round of financing. The total private financing amount was $500,000. The financing document was filed on 2016-11-23. The reason for the financing was: unspecified. The fundraising still has about $352,500 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Thorn Energy is based in Alabama. The company’s business is Oil and Gas. The SEC form was filed by William J Bosso Chief Executive Officer. The company was incorporated in 2014. The filler’s address is: Vista Point North 405 State Hwy 121, Suite A250, Lewisville, Tx, Texas, 75067. William Joseph Bosso is the related person in the form and it has address: 2635 Hampton Park Drive, Marietta, Ga, Georgia, 30062. Link to Thorn Energy Filing: 000169073916000001.
Analysis of Thorn Energy Offering
On average, startups in the Oil and Gas sector, sell 13.77% of the total offering size. Thorn Energy sold 29.50% of the offering. The financing is still open. Could this mean that the trust in Thorn Energy is high? The average fundraising size for companies in the Oil and Gas industry is $227,000. The offering was 35.02% smaller than the average of $227,000. Of course this should not be interpreted as negative. Firms raise funds for a variety of reasons and needs. The minimum investment for this fundraising was set at $5000. 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 Thorn Energy Also
The Form D signed by William J Bosso might help Thorn Energy 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.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.