CivaTech Announces $2.72M Debt Financing

civatechCivaTech Oncology, Inc., Corporation, a North Carolina-based company focused on localized radiation therapy, submitted a Form D for a $2.72M debt financing. The date of first sale was December 9, 2015, where the company was able to fundraise $2.71 million, or 99.64% of the offering.  On average, companies in similar fields sell 68.60% of the total offering amount.

The total private offering amount was $2.72 million. The fundraising form was filed on December 16. 2016. CivaTech cited that the reason for the financing was to exclude salaries paid in the ordinary course of business.. The fundraising still has $9,780 remaining and is not closed yet. 

Analysts note that CivaTech’s ability to raise nearly 100% of their offering signifies a high level of trust in the company, especially since the average fundraising amount for similar companies in the field is $1.16 million, and CivaTech’s raise was 133.64% larger. 

Analysts also reason that the Form D will benefit CivaTech in helping potential customers feel more safe to deal with a firm that is well financed, and will also attract other investors such as venture-capital firms, funds and angels. Third, positive PR effects could even bring leasing firms and venture lenders.

For more on CivaTech, visit the company’s website.

Categories: COMPANIES