Form D Report: Code Ocean $2.53 million Financing. Simon Adar Filed Nov 30 SEC Form

Technology Code Ocean, Inc. - Simon Adar

Code Ocean Financing

Code Ocean, Inc., Corporation just filed form D announcing $2.53 million equity and debt financing. This is a new filing. Code Ocean was able to sell $2.53 million. That is 100.00% of the financing round. The total offering amount was $2.53 million. The private financing document was filed on 2016-11-30. The reason for the financing was: unspecified.

Code Ocean is based in Alabama. The filler’s business is Other Technology. The form D was submitted by Simon Adar CEO. The company was incorporated in 2015. The filler’s address is: 111 8Th Avenue, Suite 302, New York, Ny, New York, 10011. Simon Adar is the related person in the form and it has address: C/O Code Ocean, Inc., 111 8Th Avenue, Suite #302, New York, Ny, New York, 10011. Link to Code Ocean Filing: 000169109316000001.

Analysis of Code Ocean Offering

On average, startups in the Other Technology sector, sell 85.80% of the total offering amount. Code Ocean sold 100.00% of the offering. Could this mean that the trust in Code Ocean is high? The average investment size for companies in the Other Technology industry is $1.54 million. The total amount raised is 64.29% bigger than the average for companies in the Other Technology sector. The minimum investment for this financing is 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 Code Ocean Also

The Form D signed by Simon Adar might help Code Ocean, 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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