Turbopatent $4.50 million Financing. Byron McCann Submitted Feb 5 form D

February 6, 2018 - By Clifton Ray

Turbopatent Financing

Turbopatent Corp., Corporation just released form D about $4.50 million equity financing. This is a new filing. Turbopatent was able to sell $3.24 million so far. That is 71.90 % of the financing offer. The total financing amount was $4.50 million. The financing form was filed on 2018-02-05. The reason for the financing was: unspecified. The fundraising still has about $1.26 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.

Turbopatent is based in Washington. The firm’s business is Other Technology. The SEC form was submitted by Byron McCann Chief Operations Officer. The company was incorporated in 2013. The filler’s address is: 105 S. Main St., Suite 240, Seattle, Wa, Washington, 98104. James Billmaier is the related person in the form and it has address: 105 S. Main Street, Suite 240, Seattle, Wa, Washington, 98104. Link to Turbopatent Filing: 000165017718000001.

Analysis of Turbopatent Offering

On average, companies in the Other Technology sector, sell 85.80 % of the total offering amount. Turbopatent sold 71.90 % of the offering. The fundraising is still open. The average investment floor size for companies in the Other Technology industry is $1.54 million. The total amount raised is 110.09 % bigger than the average for companies in the Other Technology sector. The minimum investment for this offering 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 Turbopatent Also

The Form D signed by Byron McCann might help Turbopatent 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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