Mullen Technologies Financing
Mullen Technologies, Inc., Corporation just had published form D about $50.00 million equity and debt financing. This is a new filing. Mullen Technologies was able to finance itself with $1.07 million so far. That is 2.13% of the financing offer. The total offering amount was $50.00 million. The private financing document was filed on 2015-09-08. The reason for the financing was: unspecified. The fundraising still has about $48.93 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.
Mullen Technologies is based in California. The company’s business is Other Technology. The SEC form was signed by David Michery CEO. The company was incorporated in 2014. The filler’s address is: 308 E 2Nd Ave, La Habra, Ca, California, 90631. David Michery is the related person in the form and it has address: 308 E. 2Nd Ave., La Habra, Ca, California, 90631. Link to Mullen Technologies Filing: 000147793215005858.
Analysis of Mullen Technologies Offering
On average, companies in the Other Technology sector, sell 85.80% of the total offering amount. Mullen Technologies sold 2.13% of the offering. The fundraising is still open. The average offering amount for companies in the Other Technology industry is $1.54 million. The offering was 30.78% smaller than the average of $1.54 million. Of course this should not be taken as negative. Firms get financed for a variety of reasons and needs. The minimum investment for this financing is set at $500. 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 Mullen Technologies Also
The Form D signed by David Michery might help Mullen Technologies, 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.