Solarflare Communications Financing
Solarflare Communications Inc, Corporation just released form D announcing $25.74 million equity financing. This is a new filing. Solarflare Communications was able to fundraise $22.24 million. That is 86.40% of the offering. The total private financing amount was $25.74 million. The financing document was filed on 2016-11-29. The reason for the financing was: unspecified. The fundraising still has about $3.50 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Solarflare Communications is based in California. The filler’s business is Other Technology. The D form was submitted by Mary Jane Abalos Chief Financial Officer. The company was incorporated more than five years ago. The filler’s address is: 7505 Irvine Center Drive, Suite 100, Irvine, Ca, California, 92618. Russell Stern is the related person in the form and it has address: C/O Solarflare Communications, Inc., 7505 Irvine Center Drive, Suite 100, Irvine, Ca, California, 92618. Link to Solarflare Communications Filing: 000113862116000005.
Analysis of Solarflare Communications Offering
On average, firms in the Other Technology sector, sell 85.80% of the total offering size. Solarflare Communications sold 86.40% of the offering. The financing is still open. Could this mean that the trust in Solarflare Communications is high? The average investment size for companies in the Other Technology industry is $1.54 million. The total amount raised is 1,344.17% bigger than the average for companies in the Other Technology sector. The minimum investment for this financing was set at $0. 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 Solarflare Communications Also
The Form D signed by Mary Jane Abalos might help Solarflare Communications 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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