Discovery Energy $33.55 million Fundraising. Keith J McKenzie Released Feb 15 Form D

February 15, 2018 - By Michael Collier

Discovery Energy Financing

Discovery Energy Corp., Corporation just released form D for $33.55 million debt financing. The date of first sale was 2016-05-27. Discovery Energy was able to sell $6.50 million so far. That is 19.37 % of the round of financing. The total financing amount was $33.55 million. This form was filed on 2018-02-15. The reason for the financing was: unspecified. The fundraising still has about $27.05 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.

Discovery Energy is based in Texas. The firm’s business is Oil and Gas. The D form was submitted by Keith J McKenzie CEO. The company was incorporated more than five years ago. The filler’s address is: One Riverway Drive, Suite 1700, Houston, Tx, Texas, 77056. Keith D Spickelmier is the related person in the form and it has address: One Riverway Drive, Suite 1700, Houston, Tx, Texas, 77056. Link to Discovery Energy Filing: 000114420418009267.

Analysis of Discovery Energy Offering

On average, firms in the Oil and Gas sector, sell 13.77 % of the total offering size. Discovery Energy sold 19.37 % of the offering. The financing is still open. Could this mean that the trust in Discovery Energy is high? The average fundraising amount for companies in the Oil and Gas industry is $227,000. The total amount raised is 2,763.44 % bigger than the average for companies in the Oil and Gas sector. The minimum investment for this offering 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 Discovery Energy Also

The Form D signed by Keith J McKenzie might help Discovery Energy Corp.’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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