Syngen Inc., Corporation just released form D regarding $1.00 million equity and debt financing. This is a new filing. Syngen was able to finance itself with $1.00 million. That is 100.00% of the financing offer. The total financing amount was $1.00 million. The form was filed on 2016-11-28. The reason for the financing was: unspecified.
Syngen is based in California. The company’s business is Biotechnology. The SEC form was submitted by Chuck Novak Vice President and Chief Financial Officer. The company was incorporated in 2012. The filler’s address is: 100 Howe Avenue, Suite 185N, Sacramento, Ca, California, 95825. Philip H. Coelho is the related person in the form and it has address: 100 Howe Avenue, Suite 185N, Sacramento, Ca, California, 95825. Link to Syngen Filing: 000154787616000006.
Analysis of Syngen Offering
On average, companies in the Biotechnology sector, sell 73.77% of the total offering amount. Syngen sold 100.00% of the offering. Could this mean that the trust in Syngen is high? The average fundraising size for companies in the Biotechnology industry is $3.08 million. The offering was 67.53% smaller than the average of $3.08 million. Of course this should not be seen as negative. Startups raise funds for different reasons and needs. The minimum investment for this financing 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 Syngen Also
The Form D signed by Chuck Novak might help Syngen 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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