Cloud9 Esports Financing
Cloud9 Esports, Inc., Corporation just filed form D for $3.00 million equity financing. This is a new filing. Cloud9 Esports was able to finance itself with $2.86 million. That is 95.21% of the fundraising. The total private financing amount was $3.00 million. This form was filed on 2016-11-23. The reason for the financing was: unspecified. The fundraising still has about $143,661 more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Cloud9 Esports is based in California. The filler’s business is not disclosed. The SEC form was filed by Paullie K Etienne Chief Financial Officer. The company was incorporated in 2016. The filler’s address is: 2720 Neilson Way #5697, Santa Monica, Ca, California, 90409. Jacques M. Etienne is the related person in the form and it has address: C/O Cloud9 Esports, Inc., 2720 Neilson Way #5697, Santa Monica, Ca, California, 90409. Link to Cloud9 Esports Filing: 000169070616000001.
Analysis of Cloud9 Esports Offering
On average, firms in the not disclosed sector, sell 67.77% of the total offering size. Cloud9 Esports sold 95.21% of the offering. The fundraising is still open. Could this mean that the trust in Cloud9 Esports is high? The average fundraising size for companies in all industries in our database is $3.05 million. The offering was 6.35% smaller than the average of $3.05 million. Of course this should not be taken as negative. Startups raise funds for a variety of needs and reasons. 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 Cloud9 Esports Also
The Form D signed by Paullie K Etienne might help Cloud9 Esports, 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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