Mycotechnology, Inc., Corporation just released form D announcing $9.50 million equity financing. This is a new filing. Mycotechnology was able to finance itself with $6.74 million so far. That is 70.96% of the fundraising. The total private offering amount was $9.50 million. The financing form was filed on 2015-08-12. The reason for the financing was: This filing covers the purchase and sale of Series A Preferred Stock and the Common Stock issuable upon conversion of such Preferred Stock and the Convertible Notes which converted into Series A Preferred Stock.. The fundraising still has about $2.76 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Mycotechnology is based in Colorado. The company’s business is Other Technology. The D form was signed by Alan Hahn Chief Executive Officer. The company was incorporated in 2013. The filler’s address is: 3155 N. Chambers Road, Unit E, Aurora, Co, Colorado, 80011. Alan Hahn is the related person in the form and it has address: C/O Mycotechnology, 3155 N. Chambers Road, Unit E, Aurora, Co, Colorado, 80011. Link to Mycotechnology Filing: 000158981415000001.
Analysis of Mycotechnology Offering
On average, firms in the Other Technology sector, sell 85.80% of the total offering size. Mycotechnology sold 70.96% of the offering. The financing is still open. The average fundraising amount for companies in the Other Technology industry is $1.54 million. The total amount raised is 337.77% 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 Mycotechnology Also
The Form D signed by Alan Hahn might help Mycotechnology, 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.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.