Ridecell, Inc., Corporation just filed form D regarding $25.94 million equity financing. This is a new filing. Ridecell was able to fundraise $15.94 million so far. That is 61.46% of the offering. The total private offering amount was $25.94 million. The financing document was filed on 2015-07-20. The reason for the financing was: unspecified. The fundraising still has about $10.00 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Ridecell is based in Alabama. The firm’s business is not disclosed. The D form was submitted by Aarjav Trivedi President. The company was incorporated in 2011. The filler’s address is: 367A 9Th St., San Francisco, Ca, California, 94103. Aarjav Trivedi is the related person in the form and it has address: 367A 9Th St., San Francisco, Ca, California, 94103. Link to Ridecell Filing: 000164840515000001.
Analysis of Ridecell Offering
On average, firms in the not disclosed sector, sell 67.77% of the total offering size. Ridecell sold 61.46% of the offering. The fundraising is still open. The average offering amount for companies in all industries in our database is $3.05 million. The total amount raised is 422.78% bigger than the average for companies in the database. The minimum investment for this financing was 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 Ridecell Also
The Form D signed by Aarjav Trivedi might help Ridecell, 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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