Phil, Inc., Corporation just filed form D because of $5.50 million equity financing. This is a new filing. Phil was able to finance itself with $5.50 million. That is 100.00% of the fundraising offer. The total private offering amount was $5.50 million. The private financing document was filed on 2016-11-29. The reason for the financing was: unspecified.
Phil is based in Alabama. The company’s business is Other Technology. The D form was filed by Deepak Thomas Chief Executive Officer. The company was incorporated in 2015. The filler’s address is: 391 Sutter Street, Suite 800, San Francisco, Ca, California, 94108. Deepak Thomas is the related person in the form and it has address: C/O Phil, Inc., 391 Sutter Street, Suite 800, San Francisco, Ca, California, 94108. Link to Phil Filing: 000165081216000005.
Analysis of Phil Offering
On average, startups in the Other Technology sector, sell 85.80% of the total offering amount. Phil sold 100.00% of the offering. Could this mean that the trust in Phil is high? The average offering size for companies in the Other Technology industry is $1.54 million. The total amount raised is 256.82% bigger than the average for companies in the Other Technology sector. The minimum investment for this fundraising was 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 Phil Also
The Form D signed by Deepak Thomas might help Phil, 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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