Practice Protection Financing
Practice Protection, Inc., Corporation just filed form D announcing $3.00 million equity financing. The date of first sale was 2016-09-07. Practice Protection was able to sell $720,000 so far. That is 24.00% of the offering. The total fundraising amount was $3.00 million. The fundraising form was filed on 2016-11-30. The reason for the financing was: $5,000 advisory fee plus 10% placement fee per investor. The fundraising still has about $2.28 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Practice Protection is based in California. The company’s business is Insurance. The D form was submitted by Eric N Stine Chief Operating Officer. The company was incorporated in 2016. The filler’s address is: 1021 South Calhoun Street, Fort Wayne, In, Indiana, 46802. Eric J. Stetzel is the related person in the form and it has address: 1021 S. Calhoun Street, Fort Wayne, In, Indiana, 46802. Link to Practice Protection Filing: 000168531216000002.
Analysis of Practice Protection Offering
On average, companies in the Insurance sector, sell 70.00% of the total offering amount. Practice Protection sold 24.00% of the offering. The financing is still open. The average offering amount for companies in the Insurance industry is $996,000. The offering was 27.71% smaller than the average of $996,000. Of course this should not be interpreted as negative. Startups get financed for different reasons and needs. The minimum investment for this financing was set at $50000. 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 Practice Protection Also
The Form D signed by Eric N Stine might help Practice Protection, 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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