Satelles-Form D To Observe: Satelles $9.99 million Financing

Satelles Financing

Satelles, Inc., Corporation just submitted form D announcing $9.99 million equity financing. This is a new filing. Satelles was able to fundraise $3.29 million so far. That is 32.89% of the round of financing. The total fundraising amount was $9.99 million. The fundraising form was filed on 2016-12-28. The reason for the financing was: unspecified. The fundraising still has about $6.70 million more and is not closed yet. We have to wait more to see if the offering will be fully taken.

Satelles is based in Virginia. The company’s business is Other Technology. The form D was submitted by Michael OConnor Chief Executive Officer. The company was incorporated more than five years ago. The filler’s address is: 360 Herndon Parkway #1400, Herndon, Va, Virginia, 20170. Michael O’connor is the related person in the form and it has address: 360 Herndon Parkway #1400, Herndon, Va, Virginia, 20170. Link to Satelles Filing: 000145050716000006.

Analysis of Satelles Offering

On average, startups in the Other Technology sector, sell 85.80% of the total offering amount. Satelles sold 32.89% 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 113.33% bigger than the average for companies in the Other Technology sector. The minimum investment for this financing 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 Satelles Also

The Form D signed by Michael OConnor might help Satelles, 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.