Painqx $1.16 million Financing. Frank Minella Filed Aug 28 Filing

August 28, 2017 - By Louis Casey

Painqx Financing

Painqx, Inc., Corporation just filed form D announcing $1.16 million equity financing. This is a new filing. Painqx was able to sell $325,000 so far. That is 28.02 % of the offering. The total private financing amount was $1.16 million. This form was filed on 2017-08-28. The reason for the financing was: unspecified. The fundraising still has about $835,000 more and is not closed yet. We have to wait more to see if the offering will be fully taken.

Painqx is based in Pennsylvania. The firm’s business is Biotechnology. The form D was signed by Frank Minella President and Director. The company was incorporated in 2015. The filler’s address is: 1 Yorktown Circle, Kennett Square, Pa, Pennsylvania, 19348. Frank Minella is the related person in the form and it has address: 1 Yorktown Circle, Kennett Square, Pa, Pennsylvania, 19348. Link to Painqx Filing: 000167018717000002.

Analysis of Painqx Offering

On average, companies in the Biotechnology sector, sell 73.77 % of the total offering amount. Painqx sold 28.02 % of the offering. The fundraising is still open. The average investment offering size for companies in the Biotechnology industry is $3.08 million. The offering was 89.45 % smaller than the average of $3.08 million. Of course this should not be interpreted as negative. Companies get financed for a variety of reasons and needs. The minimum investment for this fundraising 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 Painqx Also

The Form D signed by Frank Minella might help Painqx, 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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