---
title: "What do placement agents charge on a private raise?"
description: "Placement agent commissions and finders' fees reported in 49,040 SEC Form D filings for private raises 2023\u20132026, by amount raised, security type, industry and broker-dealer."
site: Deal Cost Index
content_updated: 2026-09-15
data_checked: 2026-09-13
license: CC BY 4.0
html: https://dealcostindex.com/capital-raise-fees.html
---
Placement fees · SEC Form D 2023–2026

# What do placement agents charge on a private raise?

Of 49,040 private raises reported on Form D since 2023, 4,594 paid an intermediary. Their median commission fell from 6.0% on $1–5M raises to 1.8% on raises above $100M.

Most companies raise without one: only 6–17% of raises in each size band reported a sales commission or finder's fee.

Key figures

49,040

Form D private raises

4,594

paid an intermediary

6.0%

median fee, $1–5M raises

1.8%

median fee, raises over $100M

## Fees by amount raised

Among Form D raises filed 2023Q1–2026Q2 that paid an intermediary, the median fee was 6.0% of the amount sold for $1–5M raises (926 raises), 3.78% for $10–25M (436) and 1.77% above $100M (167). Equity raises had a median of 5.0% (3,577 raises) and debt raises 2.5% (415).

Sales commissions plus finders' fees as reported in Form D Item 16, divided by amount sold. Median with middle half below. Raises reporting fees above 20% of the amount sold are excluded as partial-sale or entry artefacts.

| Amount raised | Raises | Paid an intermediary | All | Equity | Debt |
|---|---|---|---|---|---|
| <$1M | 20,522 | 11.2% | 5.00% — 5.0%–6.0% | 5.00% — 5.0%–5.9% | 7.13% — 6.0%–10.0% |
| $1–5M | 14,587 | 6.3% | 6.00% — 3.1%–8.0% | 6.00% — 2.9%–7.8% | 5.00% — 2.5%–7.1% |
| $5–10M | 5,481 | 6.9% | 5.10% — 2.5%–7.8% | 5.00% — 2.5%–8.0% | 2.50% — 2.0%–4.2% |
| $10–25M | 4,690 | 9.3% | 3.78% — 2.0%–6.7% | 4.85% — 2.0%–7.0% | 2.50% — 2.0%–3.0% |
| $25–50M | 1,857 | 13.2% | 2.64% — 1.5%–5.9% | 3.70% — 1.5%–6.0% | 2.00% — 1.5%–2.3% |
| $50–100M | 893 | 14.7% | 2.21% — 1.2%–5.0% | 4.00% — 1.8%–6.0% | 1.46% — 1.0%–1.8% |
| $100M+ | 1,010 | 16.5% | 1.77% — 0.8%–4.0% | 2.46% — 0.9%–4.6% | 1.50% — 1.3%–2.0% |

## Fees by industry

Healthcare and life-sciences raises that paid an intermediary had a median fee of 6.77% (581 raises); financial-services raises had 2.5% (409). Real-estate issuers used intermediaries most often: 2,271 of 11,637 raises.

| Industry | Raises | Paid an intermediary | Fee (median, middle half) |
|---|---|---|---|
| Technology & telecom | 11,753 | 3.1% | 5.00% — 2.4%–7.1% |
| Healthcare & life sciences | 5,430 | 10.7% | 6.77% — 4.3%–8.0% |
| Financial services | 3,846 | 10.6% | 2.50% — 1.5%–5.0% |
| Real estate | 11,637 | 19.5% | 5.00% — 5.0%–5.2% |
| Energy, mining & utilities | 1,361 | 9.6% | 4.43% — 2.0%–7.0% |
| Consumer & retail | 1,531 | 3.5% | 4.49% — 1.9%–7.5% |
| Industrials & business services | 1,760 | 4.3% | 5.00% — 1.9%–7.0% |
| Other | 11,722 | 6.1% | 5.21% — 2.4%–6.7% |

## Broker-dealers

Recipients named in Item 12 with five or more fee-paying raises. Some platforms serve many very small raises.

120 rows

| Broker-dealer | Raises | Median fee | Median raise | Largest filings |
|---|---|---|---|---|
| HLH&L Equities | 804 | 5.00% | $125K | [Form D Dec 2024 · $1.88M](https://www.sec.gov/Archives/edgar/data/2047048/000204708824000001/) [Form D Jan 2026 · $1.63M](https://www.sec.gov/Archives/edgar/data/2105834/000210590926000001/) [Form D Feb 2025 · $1.5M](https://www.sec.gov/Archives/edgar/data/2000597/000200059725000001/) |
| IIca | 782 | 5.00% | $125K | [Form D Dec 2024 · $1.25M](https://www.sec.gov/Archives/edgar/data/2047097/000204709724000001/) [Form D Oct 2023 · $173K](https://www.sec.gov/Archives/edgar/data/1996144/000199614423000001/) [Form D Feb 2023 · $125K](https://www.sec.gov/Archives/edgar/data/1965276/000196527623000001/) |
| H.C. Wainwright | 97 | 7.00% | $4.04M | [Form D Aug 2023 · $212M](https://www.sec.gov/Archives/edgar/data/1728117/000156761923006809/) [Form D Aug 2023 · $120M](https://www.sec.gov/Archives/edgar/data/1668243/000166824323000001/) [Form D May 2026 · $110M](https://www.sec.gov/Archives/edgar/data/1768446/000176844626000001/) |
| MGMaxim Group | 52 | 7.00% | $4M | [Form D Sep 2025 · $175M](https://www.sec.gov/Archives/edgar/data/1956741/000178623625000033/) [Form D Oct 2025 · $105M](https://www.sec.gov/Archives/edgar/data/1671502/000110465925101869/) [Form D Oct 2025 · $105M](https://www.sec.gov/Archives/edgar/data/1951222/000119380525001502/) |
| ACAlexander Capital | 50 | 7.98% | $3.89M | [Form D Mar 2023 · $11.3M](https://www.sec.gov/Archives/edgar/data/1682558/000168255823000005/) [Form D Sep 2025 · $8.51M](https://www.sec.gov/Archives/edgar/data/1682558/000168255825000012/) [Form D Apr 2025 · $7.4M](https://www.sec.gov/Archives/edgar/data/1682558/000168255825000005/) |
| Canaccord Genuity | 46 | 5.51% | $3.72M | [Form D Oct 2023 · $100M](https://www.sec.gov/Archives/edgar/data/1708493/000193818723000001/) [Form D Dec 2025 · $100M](https://www.sec.gov/Archives/edgar/data/1717867/000171786725000002/) [Form D Dec 2025 · $51.9M](https://www.sec.gov/Archives/edgar/data/1754195/000175419525000075/) |
| PTPerformance Trust Capital Partners | 43 | 2.25% | $25M | [Form D Mar 2026 · $171M](https://www.sec.gov/Archives/edgar/data/2114584/000211458426000001/) [Form D Jul 2024 · $144M](https://www.sec.gov/Archives/edgar/data/1840132/000184013224000001/) [Form D Sep 2025 · $100M](https://www.sec.gov/Archives/edgar/data/1038773/000103877325000003/) |
| ASA5 Securities | 41 | 13.71% | $124K | [Form D Nov 2023 · $1.07M](https://www.sec.gov/Archives/edgar/data/2001590/000200151123000001/) [Form D Jan 2023 · $125K](https://www.sec.gov/Archives/edgar/data/1962072/000196164223000002/) [Form D Dec 2023 · $125K](https://www.sec.gov/Archives/edgar/data/2004593/000200459323000001/) |
| TSTPEG Securities | 37 | 7.00% | $1.9M | [Form D Aug 2023 · $37M](https://www.sec.gov/Archives/edgar/data/1987158/000198715823000001/) [Form D Apr 2024 · $22M](https://www.sec.gov/Archives/edgar/data/2018557/000201855724000002/) [Form D Jan 2023 · $21M](https://www.sec.gov/Archives/edgar/data/1932278/000193227823000001/) |
| HSHaywood Securities (USA) | 37 | 6.00% | $777K | [Form D Apr 2024 · $109M](https://www.sec.gov/Archives/edgar/data/1833141/000091228224000356/) [Form D Oct 2025 · $37.5M](https://www.sec.gov/Archives/edgar/data/1407583/000149315225017696/) [Form D May 2023 · $33.3M](https://www.sec.gov/Archives/edgar/data/1421642/000142164223000001/) |
| ACAegis Capital | 32 | 8.25% | $4.1M | [Form D Aug 2025 · $501M](https://www.sec.gov/Archives/edgar/data/1829794/000168316825005558/) [Form D Feb 2024 · $22.4M](https://www.sec.gov/Archives/edgar/data/1533998/000110465924029352/) [Form D Nov 2025 · $20M](https://www.sec.gov/Archives/edgar/data/1621672/000162167225000005/) |
| HLH&L Equities | 31 | 5.00% | $125K | [Form D Feb 2023 · $125K](https://www.sec.gov/Archives/edgar/data/1963357/000196335723000001/) [Form D Feb 2023 · $125K](https://www.sec.gov/Archives/edgar/data/1964456/000196445623000001/) [Form D Feb 2023 · $125K](https://www.sec.gov/Archives/edgar/data/1963461/000196346123000001/) |
| AAA.G.P./Alliance Global Partners | 28 | 6.82% | $4.15M | [Form D Aug 2025 · $450M](https://www.sec.gov/Archives/edgar/data/1425355/000121390025074059/) [Form D Jun 2025 · $425M](https://www.sec.gov/Archives/edgar/data/1981535/000164117225014375/) [Form D May 2023 · $42.2M](https://www.sec.gov/Archives/edgar/data/1433607/000156761923006233/) |
| SStonehaven | 28 | 0.65% | $195K | [Form D Apr 2024 · $197M](https://www.sec.gov/Archives/edgar/data/2020328/000202032824000001/) [Form D Oct 2024 · $133M](https://www.sec.gov/Archives/edgar/data/2040067/000204006724000003/) [Form D Oct 2024 · $44.9M](https://www.sec.gov/Archives/edgar/data/2040518/000204051824000001/) |
| Roth Capital Partners | 25 | 5.83% | $7.44M | [Form D Aug 2025 · $224M](https://www.sec.gov/Archives/edgar/data/1788230/000178823025000141/) [Form D Aug 2024 · $99.7M](https://www.sec.gov/Archives/edgar/data/34956/000157856324000391/) [Form D Oct 2024 · $70M](https://www.sec.gov/Archives/edgar/data/1774170/000177417024000003/) |
| LCLaidlaw & Company (UK) | 25 | 6.67% | $1.71M | [Form D Apr 2024 · $61.5M](https://www.sec.gov/Archives/edgar/data/1739174/000121390024028241/) [Form D May 2026 · $17M](https://www.sec.gov/Archives/edgar/data/1938569/000149315226020909/) [Form D Feb 2026 · $15M](https://www.sec.gov/Archives/edgar/data/2029039/000149315226008057/) |
| FCFNEX Capital | 23 | 9.98% | $7.65M | [Form D Mar 2026 · $145M](https://www.sec.gov/Archives/edgar/data/2085986/000093244026000014/) [Form D Jan 2023 · $73.6M](https://www.sec.gov/Archives/edgar/data/1920957/000192095723000001/) [Form D Jan 2023 · $66.8M](https://www.sec.gov/Archives/edgar/data/1943405/000192095723000003/) |
| LPLeerink Partners | 22 | 6.00% | $89.8M | [Form D Mar 2024 · $400M](https://www.sec.gov/Archives/edgar/data/1599901/000159990124000045/) [Form D Nov 2025 · $285M](https://www.sec.gov/Archives/edgar/data/1800315/000119312525291332/) [Form D Aug 2023 · $212M](https://www.sec.gov/Archives/edgar/data/1728117/000156761923006809/) |
| DJDawson James Securities | 21 | 5.88% | $7.31M | [Form D Apr 2024 · $1.49B](https://www.sec.gov/Archives/edgar/data/1589149/000149315224017164/) [Form D Sep 2025 · $108M](https://www.sec.gov/Archives/edgar/data/2077638/000207763825000001/) [Form D May 2024 · $43M](https://www.sec.gov/Archives/edgar/data/1589149/000149315224021411/) |
| EEEmerson Equity | 21 | 8.97% | $12.7M | [Form D Mar 2026 · $145M](https://www.sec.gov/Archives/edgar/data/2085986/000093244026000014/) [Form D Jan 2025 · $82.8M](https://www.sec.gov/Archives/edgar/data/2052872/000205287225000001/) [Form D Jan 2023 · $73.6M](https://www.sec.gov/Archives/edgar/data/1920957/000192095723000001/) |
| Goldman Sachs | 20 | 0.99% | $122M | [Form D Mar 2023 · $6.13B](https://www.sec.gov/Archives/edgar/data/1691342/000169134223000001/) [Form D Jun 2024 · $1.04B](https://www.sec.gov/Archives/edgar/data/1780095/000178009524000001/) [Form D Sep 2023 · $460M](https://www.sec.gov/Archives/edgar/data/1854865/000110465923098589/) |
| PIPaulson Investment Company | 19 | 10.00% | $3M | [Form D Jan 2025 · $25M](https://www.sec.gov/Archives/edgar/data/1728054/000172805425000001/) [Form D Oct 2024 · $17.2M](https://www.sec.gov/Archives/edgar/data/1728054/000172805424000001/) [Form D Sep 2025 · $17.2M](https://www.sec.gov/Archives/edgar/data/1728054/000172805425000003/) |
| TCTangent Capital Partners | 19 | 0.65% | $221K | [Form D Aug 2023 · $271M](https://www.sec.gov/Archives/edgar/data/1566740/000156761923006752/) [Form D Feb 2024 · $11.8M](https://www.sec.gov/Archives/edgar/data/2009843/000200984324000001/) [Form D Jan 2024 · $9.61M](https://www.sec.gov/Archives/edgar/data/2005641/000147450624000026/) |
| TSTPEG Securities | 18 | 7.00% | $6.42M | [Form D May 2023 · $35.3M](https://www.sec.gov/Archives/edgar/data/1977427/000197742723000001/) [Form D Mar 2024 · $18.6M](https://www.sec.gov/Archives/edgar/data/2014248/000201333524000002/) [Form D May 2023 · $13.9M](https://www.sec.gov/Archives/edgar/data/1973990/000197399023000001/) |
| Raymond James & Associates | 18 | 4.17% | $30.5M | [Form D May 2026 · $110M](https://www.sec.gov/Archives/edgar/data/1768446/000176844626000001/) [Form D Sep 2025 · $100M](https://www.sec.gov/Archives/edgar/data/1038773/000103877325000003/) [Form D Nov 2025 · $65M](https://www.sec.gov/Archives/edgar/data/2092527/000143774925035128/) |
| USUpmarket Securities | 18 | 5.96% | $589K | [Form D Oct 2025 · $3.06M](https://www.sec.gov/Archives/edgar/data/2089850/000208985025000001/) [Form D Apr 2025 · $1.79M](https://www.sec.gov/Archives/edgar/data/2065824/000206582425000001/) [Form D Sep 2025 · $1.35M](https://www.sec.gov/Archives/edgar/data/2086753/000208675325000001/) |
| Canaccord Genuity Wealth Management (USA) | 17 | 1.91% | $266K | [Form D Mar 2026 · $21M](https://www.sec.gov/Archives/edgar/data/1407583/000149315226011612/) [Form D Apr 2024 · $12.7M](https://www.sec.gov/Archives/edgar/data/1798056/000179805624000001/) [Form D May 2023 · $1.04M](https://www.sec.gov/Archives/edgar/data/1893899/000189389923000001/) |
| NNetwork 1 Financial Securities | 17 | 7.98% | $3M | [Form D Feb 2026 · $80M](https://www.sec.gov/Archives/edgar/data/1918102/000191810226000001/) [Form D Aug 2025 · $33M](https://www.sec.gov/Archives/edgar/data/1918080/000121390025073238/) [Form D Apr 2026 · $32.3M](https://www.sec.gov/Archives/edgar/data/2108121/000121390026047044/) |
| MPMarco Polo Securities | 17 | 6.00% | $777K | [Form D Mar 2026 · $3M](https://www.sec.gov/Archives/edgar/data/1815663/000181566326000001/) [Form D Aug 2024 · $2.43M](https://www.sec.gov/Archives/edgar/data/1476573/000091228224000582/) [Form D Sep 2024 · $2.14M](https://www.sec.gov/Archives/edgar/data/1716410/000171641024000001/) |
| LTLadenburg Thalmann | 16 | 7.88% | $4M | [Form D Jan 2024 · $80M](https://www.sec.gov/Archives/edgar/data/1280776/000119380524000065/) [Form D Mar 2024 · $10.1M](https://www.sec.gov/Archives/edgar/data/1725430/000149315224010924/) [Form D May 2025 · $10M](https://www.sec.gov/Archives/edgar/data/1638287/000110465925049376/) |
| CFCeros Financial Services | 16 | 7.15% | $2.75M | [Form D Jun 2023 · $17.9M](https://www.sec.gov/Archives/edgar/data/1826667/000089706923000786/) [Form D Apr 2023 · $17.7M](https://www.sec.gov/Archives/edgar/data/1609048/000160904823000001/) [Form D Nov 2025 · $14.3M](https://www.sec.gov/Archives/edgar/data/1834887/000183488725000003/) |
| ASA5 Securities | 16 | 8.80% | $123K | [Form D Jan 2024 · $125K](https://www.sec.gov/Archives/edgar/data/2005757/000200575724000001/) [Form D Jan 2024 · $125K](https://www.sec.gov/Archives/edgar/data/2005756/000200575624000002/) [Form D Jan 2025 · $125K](https://www.sec.gov/Archives/edgar/data/1798754/000179875425000001/) |
| Canaccord Genuity | 16 | 5.54% | $1.31M | [Form D Mar 2026 · $22.8M](https://www.sec.gov/Archives/edgar/data/2117781/000211778126000001/) [Form D Aug 2024 · $19.4M](https://www.sec.gov/Archives/edgar/data/1909747/000190974724000001/) [Form D Nov 2025 · $12.8M](https://www.sec.gov/Archives/edgar/data/2049560/000106299325016977/) |
| KCKingswood Capital Partners | 16 | 4.02% | $5M | [Form D Jun 2026 · $5M](https://www.sec.gov/Archives/edgar/data/2138465/000213471826000044/) [Form D Jun 2026 · $5M](https://www.sec.gov/Archives/edgar/data/2137972/000213471826000043/) [Form D Jun 2026 · $5M](https://www.sec.gov/Archives/edgar/data/2138271/000213471826000041/) |
| Raymond James (USA) | 15 | 6.00% | $1.85M | [Form D Dec 2025 · $137M](https://www.sec.gov/Archives/edgar/data/1743235/000174323525000002/) [Form D Nov 2024 · $45.4M](https://www.sec.gov/Archives/edgar/data/1743235/000174323524000003/) [Form D Dec 2023 · $22.1M](https://www.sec.gov/Archives/edgar/data/2002847/000200284723000001/) |
| SGSprott Global Resource Investments | 15 | 4.29% | $1.26M | [Form D Oct 2025 · $55.8M](https://www.sec.gov/Archives/edgar/data/2088642/000095014225002830/) [Form D Mar 2023 · $8.65M](https://www.sec.gov/Archives/edgar/data/1853962/000156761923004739/) [Form D Oct 2024 · $6.24M](https://www.sec.gov/Archives/edgar/data/1701599/000170159924000003/) |
| FSFinalis Securities | 15 | 1.33% | $19.2M | [Form D Aug 2024 · $37.5M](https://www.sec.gov/Archives/edgar/data/1835468/000183546824000001/) [Form D Jun 2024 · $32.3M](https://www.sec.gov/Archives/edgar/data/1592484/000159248424000003/) [Form D Jul 2025 · $25.8M](https://www.sec.gov/Archives/edgar/data/2027582/000095013825000016/) |
| PCPatrick Capital Markets | 15 | 3.60% | $9.4M | [Form D Jan 2023 · $66.8M](https://www.sec.gov/Archives/edgar/data/1943405/000192095723000003/) [Form D Jan 2023 · $52.4M](https://www.sec.gov/Archives/edgar/data/1922296/000192095723000002/) [Form D Aug 2025 · $17.3M](https://www.sec.gov/Archives/edgar/data/2068521/000143774925025338/) |
| NSNFP Securities | 15 | 1.27% | $102M | [Form D Dec 2025 · $2.73B](https://www.sec.gov/Archives/edgar/data/1257734/000125773425000003/) [Form D Dec 2024 · $2.64B](https://www.sec.gov/Archives/edgar/data/1257734/000125773424000001/) [Form D Dec 2023 · $2.41B](https://www.sec.gov/Archives/edgar/data/1257734/000125773423000001/) |
| BCThe Benchmark Company | 14 | 6.12% | $7.99M | [Form D Aug 2023 · $271M](https://www.sec.gov/Archives/edgar/data/1566740/000156761923006752/) [Form D Feb 2026 · $80M](https://www.sec.gov/Archives/edgar/data/1918102/000191810226000001/) [Form D Aug 2025 · $33M](https://www.sec.gov/Archives/edgar/data/1918080/000121390025073238/) |
| PCParadigm Capital U.S. | 14 | 5.60% | $2.61M | [Form D May 2026 · $8.49M](https://www.sec.gov/Archives/edgar/data/1616885/000161688526000001/) [Form D Feb 2025 · $6.55M](https://www.sec.gov/Archives/edgar/data/1546600/000154660025000001/) [Form D Jan 2026 · $5.95M](https://www.sec.gov/Archives/edgar/data/1064052/000170940926000002/) |
| TCT Capital Funding | 13 | 6.56% | $6M | [Form D Jan 2025 · $19.6M](https://www.sec.gov/Archives/edgar/data/2051006/000205100625000001/) [Form D Mar 2023 · $16.4M](https://www.sec.gov/Archives/edgar/data/1969753/000196975323000001/) [Form D Nov 2023 · $15.3M](https://www.sec.gov/Archives/edgar/data/1998492/000199849223000001/) |
| Jefferies | 13 | 4.33% | $150M | [Form D Jun 2024 · $856M](https://www.sec.gov/Archives/edgar/data/2026053/000202605324000001/) [Form D Nov 2025 · $285M](https://www.sec.gov/Archives/edgar/data/1800315/000119312525291332/) [Form D Dec 2024 · $250M](https://www.sec.gov/Archives/edgar/data/1750284/000124323324000002/) |
| PCPNC Capital Markets | 13 | 0.43% | $119M | [Form D Jun 2026 · $251M](https://www.sec.gov/Archives/edgar/data/2113808/000211380826000001/) [Form D Jun 2025 · $208M](https://www.sec.gov/Archives/edgar/data/2074084/000207408425000001/) [Form D Sep 2023 · $181M](https://www.sec.gov/Archives/edgar/data/1992551/000199255123000001/) |
| BSBoustead Securities | 13 | 10.00% | $675K | [Form D Jan 2023 · $4M](https://www.sec.gov/Archives/edgar/data/1757499/000149315223002033/) [Form D Jun 2024 · $1.5M](https://www.sec.gov/Archives/edgar/data/1920406/000178623624000009/) [Form D Apr 2023 · $1.25M](https://www.sec.gov/Archives/edgar/data/1898474/000178623623000003/) |
| MHM Holdings Securities | 13 | 1.00% | $7.34M | [Form D Dec 2025 · $2.73B](https://www.sec.gov/Archives/edgar/data/1257734/000125773425000003/) [Form D Dec 2024 · $2.64B](https://www.sec.gov/Archives/edgar/data/1257734/000125773424000001/) [Form D Dec 2023 · $2.41B](https://www.sec.gov/Archives/edgar/data/1257734/000125773423000001/) |
| CSCompass Securities Corporation | 13 | 0.25% | $102M | [Form D Jun 2026 · $251M](https://www.sec.gov/Archives/edgar/data/2113808/000211380826000001/) [Form D Jun 2025 · $208M](https://www.sec.gov/Archives/edgar/data/2074084/000207408425000001/) [Form D Jul 2024 · $176M](https://www.sec.gov/Archives/edgar/data/2017309/000201730924000001/) |
| ASArcadia Securities | 13 | 4.12% | $4.37M | [Form D Nov 2023 · $18.3M](https://www.sec.gov/Archives/edgar/data/1420565/000142056523000002/) [Form D Nov 2023 · $17.3M](https://www.sec.gov/Archives/edgar/data/1544927/000154492723000001/) [Form D Mar 2026 · $7.28M](https://www.sec.gov/Archives/edgar/data/1487197/000149315226010457/) |
| GPGreat Point Capital | 12 | 7.19% | $14.2M | [Form D Mar 2026 · $145M](https://www.sec.gov/Archives/edgar/data/2085986/000093244026000014/) [Form D Jan 2023 · $66.8M](https://www.sec.gov/Archives/edgar/data/1943405/000192095723000003/) [Form D Jun 2026 · $35M](https://www.sec.gov/Archives/edgar/data/1881551/000188155126000001/) |
| AWArete Wealth Management | 12 | 8.68% | $2.38M | [Form D Jan 2023 · $52.4M](https://www.sec.gov/Archives/edgar/data/1922296/000192095723000002/) [Form D Jun 2025 · $15.4M](https://www.sec.gov/Archives/edgar/data/2069181/000206918125000001/) [Form D Sep 2025 · $3.5M](https://www.sec.gov/Archives/edgar/data/2085961/000208596125000001/) |
| Craig-Hallum Capital Group | 12 | 6.24% | $22.5M | [Form D Apr 2026 · $113M](https://www.sec.gov/Archives/edgar/data/1009759/000100975926000002/) [Form D Apr 2026 · $70M](https://www.sec.gov/Archives/edgar/data/1816017/000181601726000002/) [Form D Mar 2025 · $40M](https://www.sec.gov/Archives/edgar/data/1816017/000095012325003133/) |
| CSCormark Securities (USA) | 12 | 6.00% | $2.08M | [Form D Nov 2024 · $22.8M](https://www.sec.gov/Archives/edgar/data/1286973/000091228224000794/) [Form D Jan 2024 · $16.4M](https://www.sec.gov/Archives/edgar/data/1526491/000106299324001320/) [Form D Mar 2026 · $7.71M](https://www.sec.gov/Archives/edgar/data/2117702/000211770226000001/) |
| BIBenchmark Investments | 12 | 16.00% | $2M | [Form D Apr 2023 · $2.88M](https://www.sec.gov/Archives/edgar/data/1974001/000197399523000002/) [Form D Apr 2023 · $2M](https://www.sec.gov/Archives/edgar/data/1973754/000197376123000004/) [Form D Apr 2023 · $2M](https://www.sec.gov/Archives/edgar/data/1973584/000197376123000005/) |
| TThinkEquity | 11 | 7.00% | $9.09M | [Form D Jul 2025 · $213M](https://www.sec.gov/Archives/edgar/data/1829311/000164117225019555/) [Form D Jul 2025 · $39.6M](https://www.sec.gov/Archives/edgar/data/1829311/000164117225019557/) [Form D Nov 2025 · $25M](https://www.sec.gov/Archives/edgar/data/1529113/000121390025113705/) |
| WSWealthForge Securities | 11 | 0.75% | $330K | [Form D Feb 2023 · $3.4M](https://www.sec.gov/Archives/edgar/data/1963962/000196396223000001/) [Form D Jun 2023 · $2.25M](https://www.sec.gov/Archives/edgar/data/1982116/000198211623000001/) [Form D Feb 2023 · $330K](https://www.sec.gov/Archives/edgar/data/1966390/000196639023000001/) |
| TETime Equities Securities | 11 | 7.41% | $9.5M | [Form D Mar 2026 · $17.2M](https://www.sec.gov/Archives/edgar/data/2110490/000211049026000001/) [Form D Jan 2024 · $16M](https://www.sec.gov/Archives/edgar/data/2006289/000200628924000001/) [Form D Nov 2023 · $11.8M](https://www.sec.gov/Archives/edgar/data/1998927/000199892723000001/) |
| BofA Securities | 11 | 1.40% | $183M | [Form D Jun 2024 · $856M](https://www.sec.gov/Archives/edgar/data/2026053/000202605324000001/) [Form D Apr 2024 · $370M](https://www.sec.gov/Archives/edgar/data/1481062/000092963824001455/) [Form D Mar 2026 · $350M](https://www.sec.gov/Archives/edgar/data/2029118/000119312526096492/) |
| HSHaywood Securities (usa) | 11 | 5.92% | $773K | [Form D Sep 2025 · $3.34M](https://www.sec.gov/Archives/edgar/data/1823255/000182325525000002/) [Form D Jul 2025 · $1.65M](https://www.sec.gov/Archives/edgar/data/1856082/000106299325012913/) [Form D May 2026 · $1.5M](https://www.sec.gov/Archives/edgar/data/1856082/000106299326002792/) |
| JDJ.H Darbie | 11 | 14.00% | $110K | [Form D Jan 2025 · $292K](https://www.sec.gov/Archives/edgar/data/1812360/000155399725000002/) [Form D Dec 2024 · $220K](https://www.sec.gov/Archives/edgar/data/1812360/000155399724000025/) [Form D Dec 2024 · $220K](https://www.sec.gov/Archives/edgar/data/1812360/000155399724000024/) |
| DSDominari Securities | 11 | 6.40% | $1.96M | [Form D Jul 2025 · $220M](https://www.sec.gov/Archives/edgar/data/2068580/000110465925066531/) [Form D Mar 2026 · $31M](https://www.sec.gov/Archives/edgar/data/1410428/000110465926022374/) [Form D Aug 2024 · $5.94M](https://www.sec.gov/Archives/edgar/data/1083522/000143774924025933/) |
| VCVistia Capital | 10 | 7.29% | $8.94M | [Form D Jan 2026 · $14.9M](https://www.sec.gov/Archives/edgar/data/2104207/000210420726000001/) [Form D Dec 2025 · $13.4M](https://www.sec.gov/Archives/edgar/data/2086798/000208679825000002/) [Form D Jan 2023 · $11M](https://www.sec.gov/Archives/edgar/data/1960482/000196048223000001/) |
| NCNoble Capital Markets | 10 | 8.08% | $2.39M | [Form D May 2024 · $50M](https://www.sec.gov/Archives/edgar/data/1404281/000140428124000002/) [Form D May 2023 · $35M](https://www.sec.gov/Archives/edgar/data/1404281/000140428123000002/) [Form D May 2023 · $4.36M](https://www.sec.gov/Archives/edgar/data/1884419/000188441923000002/) |
| Chardan Capital Markets | 10 | 5.60% | $11M | [Form D May 2023 · $15.9M](https://www.sec.gov/Archives/edgar/data/1855644/000110465923056530/) [Form D Apr 2024 · $15.1M](https://www.sec.gov/Archives/edgar/data/1420720/000110465924043618/) [Form D Jun 2026 · $15M](https://www.sec.gov/Archives/edgar/data/2084026/000143774926020937/) |
| NSNewbridge Securities Corporation | 10 | 7.83% | $6.47M | [Form D May 2026 · $30M](https://www.sec.gov/Archives/edgar/data/1645460/000164546026000003/) [Form D Apr 2024 · $24.1M](https://www.sec.gov/Archives/edgar/data/1734750/000173475024000001/) [Form D Oct 2024 · $12.4M](https://www.sec.gov/Archives/edgar/data/1740279/000123191924000084/) |
| TMTemplum Markets | 10 | 6.00% | $3.24M | [Form D Aug 2024 · $41.6M](https://www.sec.gov/Archives/edgar/data/2030340/000203034024000003/) [Form D Dec 2025 · $7.49M](https://www.sec.gov/Archives/edgar/data/2026199/000202619925000008/) [Form D May 2026 · $5.85M](https://www.sec.gov/Archives/edgar/data/2026199/000202619926000007/) |
| RCResearch Capital USA | 10 | 5.50% | $832K | [Form D Sep 2025 · $9.45M](https://www.sec.gov/Archives/edgar/data/1783432/000178343225000004/) [Form D Oct 2025 · $2.8M](https://www.sec.gov/Archives/edgar/data/1542028/000091228225001166/) [Form D Aug 2025 · $2.31M](https://www.sec.gov/Archives/edgar/data/2022059/000202205925000002/) |
| BCBrean Capital | 9 | 2.75% | $10M | [Form D Feb 2026 · $45.5M](https://www.sec.gov/Archives/edgar/data/1652576/000165257626000002/) [Form D Apr 2026 · $26M](https://www.sec.gov/Archives/edgar/data/2094107/000110465926040310/) [Form D Feb 2023 · $20M](https://www.sec.gov/Archives/edgar/data/1967108/000196710823000001/) |
| JGJoseph Gunnar | 9 | 7.90% | $5.33M | [Form D Jul 2025 · $50M](https://www.sec.gov/Archives/edgar/data/1833141/000091228225000758/) [Form D Feb 2026 · $18.1M](https://www.sec.gov/Archives/edgar/data/1818808/000181880826000002/) [Form D Nov 2025 · $8M](https://www.sec.gov/Archives/edgar/data/1837254/000121390025108065/) |
| CACrews & Associates | 9 | 2.00% | $12M | [Form D Mar 2025 · $33.1M](https://www.sec.gov/Archives/edgar/data/2062849/000206284925000001/) [Form D Jan 2023 · $23.4M](https://www.sec.gov/Archives/edgar/data/1942947/000194294723000001/) [Form D Jun 2025 · $20.3M](https://www.sec.gov/Archives/edgar/data/2072464/000207246425000001/) |
| USUnivest Securities | 9 | 7.44% | $2.2M | [Form D Jun 2023 · $6.76M](https://www.sec.gov/Archives/edgar/data/1641398/000121390023046884/) [Form D Apr 2026 · $4.82M](https://www.sec.gov/Archives/edgar/data/1603978/000160397826000046/) [Form D May 2025 · $4.5M](https://www.sec.gov/Archives/edgar/data/1641398/000121390025043379/) |
| TBTaglich Brothers | 9 | 8.00% | $2.73M | [Form D Jan 2024 · $4.68M](https://www.sec.gov/Archives/edgar/data/1047810/000104781024000001/) [Form D Sep 2023 · $4.35M](https://www.sec.gov/Archives/edgar/data/1436938/000143693823000002/) [Form D Apr 2023 · $3.25M](https://www.sec.gov/Archives/edgar/data/1520682/000152068223000001/) |
| OOppenheimer | 9 | 5.85% | $50M | [Form D Dec 2024 · $250M](https://www.sec.gov/Archives/edgar/data/1750284/000124323324000002/) [Form D Aug 2025 · $175M](https://www.sec.gov/Archives/edgar/data/1833214/000095012325007031/) [Form D Apr 2024 · $131M](https://www.sec.gov/Archives/edgar/data/1534120/000157856324000186/) |
| Canaccord Genuity | 9 | 5.82% | $1.11M | [Form D Dec 2024 · $16.1M](https://www.sec.gov/Archives/edgar/data/1094038/000110465924132525/) [Form D Feb 2024 · $3.55M](https://www.sec.gov/Archives/edgar/data/2011589/000106299324002951/) [Form D Sep 2025 · $1.87M](https://www.sec.gov/Archives/edgar/data/1563365/000106299325015440/) |
| GVGreen Vista Capital | 9 | 5.34% | $18.7M | [Form D Dec 2025 · $36.1M](https://www.sec.gov/Archives/edgar/data/2100681/000210068125000001/) [Form D Dec 2025 · $24.5M](https://www.sec.gov/Archives/edgar/data/2100005/000210000525000001/) [Form D Dec 2024 · $21.3M](https://www.sec.gov/Archives/edgar/data/2048797/000204930124000001/) |
| SCSpartan Capital Securities | 8 | 12.73% | $1.52M | [Form D Apr 2024 · $44.4M](https://www.sec.gov/Archives/edgar/data/2018057/000201805724000001/) [Form D Jan 2023 · $3.3M](https://www.sec.gov/Archives/edgar/data/719274/000120919123004577/) [Form D Jan 2024 · $2.84M](https://www.sec.gov/Archives/edgar/data/1655923/000172768924000014/) |
| AAA.G.P. / Alliance Global Partners | 8 | 7.00% | $4.24M | [Form D Jan 2025 · $9.79M](https://www.sec.gov/Archives/edgar/data/1879001/000149315225003555/) [Form D Feb 2026 · $6M](https://www.sec.gov/Archives/edgar/data/1379006/000110465926019284/) [Form D Jul 2023 · $4.5M](https://www.sec.gov/Archives/edgar/data/1875091/000121390023054606/) |
| HLH&L Equities | 8 | 5.00% | $125K | [Form D Jan 2023 · $125K](https://www.sec.gov/Archives/edgar/data/1631720/000163172023000006/) [Form D Jan 2023 · $125K](https://www.sec.gov/Archives/edgar/data/1961873/000196187323000001/) [Form D Jan 2023 · $125K](https://www.sec.gov/Archives/edgar/data/1961642/000196164223000001/) |
| CFCarolina Financial Securities | 8 | 9.06% | $786K | [Form D Jul 2023 · $10M](https://www.sec.gov/Archives/edgar/data/1987155/000198715523000001/) [Form D May 2023 · $1.58M](https://www.sec.gov/Archives/edgar/data/1976373/000197637323000001/) [Form D Jan 2023 · $1.29M](https://www.sec.gov/Archives/edgar/data/1961812/000196181223000001/) |
| WSWealthForge Securities | 8 | 5.04% | $15.2M | [Form D Apr 2023 · $33.4M](https://www.sec.gov/Archives/edgar/data/1967843/000196784323000001/) [Form D Jan 2023 · $31.5M](https://www.sec.gov/Archives/edgar/data/1850598/000185059823000001/) [Form D Dec 2025 · $19.3M](https://www.sec.gov/Archives/edgar/data/1967843/000196784325000007/) |
| GNGP Nurmenkari | 8 | 4.68% | $7M | [Form D May 2026 · $73.1M](https://www.sec.gov/Archives/edgar/data/1086745/000149315226020911/) [Form D May 2024 · $26.9M](https://www.sec.gov/Archives/edgar/data/1321834/000149315224022082/) [Form D May 2024 · $15.2M](https://www.sec.gov/Archives/edgar/data/1321834/000149315224022083/) |
| Canaccord Genuity Wealth Management (usa) | 8 | 4.24% | $366K | [Form D Oct 2025 · $2.31M](https://www.sec.gov/Archives/edgar/data/1423867/000106299325016401/) [Form D Jan 2024 · $585K](https://www.sec.gov/Archives/edgar/data/1731712/000118374024000008/) [Form D Oct 2023 · $527K](https://www.sec.gov/Archives/edgar/data/1919776/000118374023000116/) |
| PTPerformance Trust Capital Partners | 8 | 2.25% | $26.1M | [Form D Sep 2025 · $100M](https://www.sec.gov/Archives/edgar/data/706129/000090572925000146/) [Form D Dec 2025 · $42.5M](https://www.sec.gov/Archives/edgar/data/1437479/000117494725001467/) [Form D Feb 2026 · $33.5M](https://www.sec.gov/Archives/edgar/data/906205/000090679126000039/) |
| AFAcreTrader Financial | 8 | 0.07% | $2.14M | [Form D Jan 2024 · $5.62M](https://www.sec.gov/Archives/edgar/data/1975423/000197542324000001/) [Form D May 2023 · $3.68M](https://www.sec.gov/Archives/edgar/data/1968529/000196852923000001/) [Form D Jun 2024 · $2.86M](https://www.sec.gov/Archives/edgar/data/1952156/000195215624000001/) |
| MHM Holdings Securities | 8 | 1.32% | $321M | [Form D Mar 2026 · $2.02B](https://www.sec.gov/Archives/edgar/data/727136/000072713626000003/) [Form D Mar 2026 · $1.84B](https://www.sec.gov/Archives/edgar/data/727136/000072713626000002/) [Form D Mar 2026 · $546M](https://www.sec.gov/Archives/edgar/data/727136/000072713626000005/) |
| SPStartEngine Primary | 8 | 6.52% | $124K | [Form D Apr 2024 · $473K](https://www.sec.gov/Archives/edgar/data/2014332/000201433224000001/) [Form D Apr 2024 · $332K](https://www.sec.gov/Archives/edgar/data/2011791/000201179124000001/) [Form D Mar 2024 · $331K](https://www.sec.gov/Archives/edgar/data/2010754/000201075424000001/) |
| ASAltAccess Securities Company | 8 | 2.90% | $2.51M | [Form D Mar 2024 · $62.1M](https://www.sec.gov/Archives/edgar/data/1775734/000177573424000010/) [Form D Apr 2025 · $9.66M](https://www.sec.gov/Archives/edgar/data/1775734/000164117225005402/) [Form D Apr 2026 · $8.75M](https://www.sec.gov/Archives/edgar/data/1775734/000149315226017121/) |
| CSCormark Securities (usa) | 8 | 6.00% | $1.25M | [Form D Jul 2025 · $5.2M](https://www.sec.gov/Archives/edgar/data/1925511/000206075525000026/) [Form D Jun 2025 · $3.53M](https://www.sec.gov/Archives/edgar/data/1404353/000140435325000004/) [Form D Feb 2026 · $2.47M](https://www.sec.gov/Archives/edgar/data/2112706/000106299326001098/) |
| GGreenwood and Cavalier | 8 | 2.00% | $226K | [Form D May 2025 · $1.4M](https://www.sec.gov/Archives/edgar/data/2049513/000204951325000001/) [Form D Jan 2025 · $900K](https://www.sec.gov/Archives/edgar/data/2054044/000205404425000001/) [Form D Dec 2024 · $350K](https://www.sec.gov/Archives/edgar/data/2050019/000205015224000003/) |
| PCParadigm Capital U.S. | 8 | 5.96% | $2.01M | [Form D Feb 2026 · $6.37M](https://www.sec.gov/Archives/edgar/data/1737319/000106299326001035/) [Form D Sep 2025 · $3.34M](https://www.sec.gov/Archives/edgar/data/1823255/000182325525000002/) [Form D Apr 2025 · $2.9M](https://www.sec.gov/Archives/edgar/data/1687914/000106299325007418/) |
| CHCarty, Harding & Hearn | 8 | 2.18% | $3.51M | [Form D Dec 2025 · $8.88M](https://www.sec.gov/Archives/edgar/data/2102766/000210276625000001/) [Form D Dec 2025 · $7.83M](https://www.sec.gov/Archives/edgar/data/2102765/000210276525000001/) [Form D Dec 2025 · $4.49M](https://www.sec.gov/Archives/edgar/data/2102764/000210276425000001/) |
| ACAlexander Capital | 7 | 9.00% | $1.25M | [Form D Mar 2023 · $5.31M](https://www.sec.gov/Archives/edgar/data/1953526/000195352623000001/) [Form D Jan 2023 · $2.2M](https://www.sec.gov/Archives/edgar/data/1880431/000188043123000002/) [Form D May 2024 · $1.85M](https://www.sec.gov/Archives/edgar/data/1553788/000155378824000002/) |
| BCBrookline Capital Markets, a division of Arcadia Securities | 7 | 6.03% | $5.59M | [Form D Oct 2024 · $20.6M](https://www.sec.gov/Archives/edgar/data/1641631/000164163124000001/) [Form D Dec 2024 · $16.1M](https://www.sec.gov/Archives/edgar/data/1094038/000110465924132525/) [Form D Apr 2023 · $6.5M](https://www.sec.gov/Archives/edgar/data/1832415/000183241523000003/) |
| PCPickwick Capital Partners | 7 | 5.00% | $600K | [Form D Nov 2023 · $53M](https://www.sec.gov/Archives/edgar/data/2000403/000200040323000001/) [Form D Sep 2024 · $5M](https://www.sec.gov/Archives/edgar/data/1977151/000197715124000004/) [Form D Sep 2023 · $4M](https://www.sec.gov/Archives/edgar/data/1944551/000194455123000004/) |
| ICIroquois Capital Advisors | 7 | 5.00% | $125K | [Form D Jan 2023 · $125K](https://www.sec.gov/Archives/edgar/data/1961519/000196151923000001/) [Form D Jan 2023 · $125K](https://www.sec.gov/Archives/edgar/data/1961516/000196151623000001/) [Form D Jan 2023 · $125K](https://www.sec.gov/Archives/edgar/data/1960996/000196099623000001/) |
| CIConcorde Investment Services | 7 | 10.12% | $31.5M | [Form D Jan 2023 · $73.6M](https://www.sec.gov/Archives/edgar/data/1920957/000192095723000001/) [Form D Jan 2023 · $66.8M](https://www.sec.gov/Archives/edgar/data/1943405/000192095723000003/) [Form D Jan 2023 · $52.4M](https://www.sec.gov/Archives/edgar/data/1922296/000192095723000002/) |
| CICU Investment Solutions | 7 | 1.15% | $10M | [Form D May 2026 · $75M](https://www.sec.gov/Archives/edgar/data/2128418/000143774926018111/) [Form D Sep 2025 · $20M](https://www.sec.gov/Archives/edgar/data/2084293/000208429325000001/) [Form D Jan 2024 · $15M](https://www.sec.gov/Archives/edgar/data/2005788/000200578824000001/) |
| MFMetric Financial | 7 | 10.52% | $9.85M | [Form D Jun 2025 · $17.3M](https://www.sec.gov/Archives/edgar/data/2073346/000207334625000001/) [Form D Oct 2024 · $11M](https://www.sec.gov/Archives/edgar/data/2001557/000114036124043464/) [Form D Jan 2026 · $10.3M](https://www.sec.gov/Archives/edgar/data/2105900/000210590026000001/) |
| NNetwork 1 Financial Securities | 7 | 10.00% | $6.61M | [Form D May 2025 · $198M](https://www.sec.gov/Archives/edgar/data/1521898/000152189825000001/) [Form D Jan 2023 · $73.6M](https://www.sec.gov/Archives/edgar/data/1920957/000192095723000001/) [Form D Sep 2024 · $9.32M](https://www.sec.gov/Archives/edgar/data/1718271/000171827124000002/) |
| ECExemplar Capital | 7 | 4.36% | $5M | [Form D Mar 2025 · $5M](https://www.sec.gov/Archives/edgar/data/2059886/000109690625000241/) [Form D Mar 2025 · $5M](https://www.sec.gov/Archives/edgar/data/2059546/000109690625000232/) [Form D Jun 2026 · $5M](https://www.sec.gov/Archives/edgar/data/2138271/000213471826000041/) |
| OLOlden Lane Securities | 7 | 2.00% | $8.5M | [Form D Apr 2023 · $110M](https://www.sec.gov/Archives/edgar/data/1971853/000197185323000003/) [Form D Sep 2024 · $13M](https://www.sec.gov/Archives/edgar/data/2037183/000203718324000001/) [Form D Jul 2024 · $9.5M](https://www.sec.gov/Archives/edgar/data/2028800/000202880024000001/) |
| NBNational Bank of Canada Financial | 7 | 5.00% | $6.56M | [Form D Mar 2025 · $18.1M](https://www.sec.gov/Archives/edgar/data/1851255/000185125525000001/) [Form D May 2026 · $14M](https://www.sec.gov/Archives/edgar/data/2041454/000204145426000003/) [Form D Mar 2026 · $7.71M](https://www.sec.gov/Archives/edgar/data/2117702/000211770226000001/) |
| Chardan Capital Markets | 7 | 9.66% | $36.1M | [Form D Mar 2024 · $400M](https://www.sec.gov/Archives/edgar/data/1599901/000159990124000045/) [Form D Aug 2025 · $175M](https://www.sec.gov/Archives/edgar/data/1833214/000095012325007031/) [Form D Jul 2025 · $50M](https://www.sec.gov/Archives/edgar/data/1682639/000110465925069564/) |
| MIMML Investors Services | 7 | 1.27% | $136M | [Form D Mar 2026 · $1.84B](https://www.sec.gov/Archives/edgar/data/727136/000072713626000002/) [Form D Mar 2026 · $546M](https://www.sec.gov/Archives/edgar/data/727136/000072713626000005/) [Form D Mar 2026 · $505M](https://www.sec.gov/Archives/edgar/data/727136/000072713626000006/) |
| CPCedar Point Capital | 7 | 9.85% | $3.27M | [Form D Jul 2024 · $18.4M](https://www.sec.gov/Archives/edgar/data/1782780/000178278024000001/) [Form D Jul 2025 · $6.36M](https://www.sec.gov/Archives/edgar/data/1782236/000178223625000003/) [Form D Nov 2023 · $4.55M](https://www.sec.gov/Archives/edgar/data/1782236/000178223623000003/) |
| J.P. Morgan Securities | 7 | 4.00% | $100M | [Form D Dec 2024 · $250M](https://www.sec.gov/Archives/edgar/data/1750284/000124323324000002/) [Form D Sep 2025 · $145M](https://www.sec.gov/Archives/edgar/data/1853138/000119312525213930/) [Form D Feb 2026 · $127M](https://www.sec.gov/Archives/edgar/data/2007825/000123191926000194/) |
| MPMarco Polo Securities | 7 | 4.79% | $314K | [Form D Nov 2025 · $3.35M](https://www.sec.gov/Archives/edgar/data/1803800/000106299325016929/) [Form D Nov 2025 · $2.04M](https://www.sec.gov/Archives/edgar/data/1482436/000119248225000039/) [Form D Feb 2026 · $952K](https://www.sec.gov/Archives/edgar/data/2111573/000106299326001029/) |
| SGSeaport Global Securities | 7 | 4.00% | $33M | [Form D Mar 2026 · $345M](https://www.sec.gov/Archives/edgar/data/1756770/000091228226000425/) [Form D Feb 2026 · $80M](https://www.sec.gov/Archives/edgar/data/1918102/000191810226000001/) [Form D Jun 2025 · $50M](https://www.sec.gov/Archives/edgar/data/1756390/000175639025000002/) |
| Keefe, Bruyette & Woods | 7 | 1.75% | $45M | [Form D Mar 2026 · $171M](https://www.sec.gov/Archives/edgar/data/2114584/000211458426000001/) [Form D Sep 2025 · $100M](https://www.sec.gov/Archives/edgar/data/706129/000090572925000146/) [Form D Dec 2025 · $60M](https://www.sec.gov/Archives/edgar/data/1163370/000116337025000047/) |
| SSSoFi Securities | 7 | 6.00% | $3.13M | [Form D Dec 2025 · $7.49M](https://www.sec.gov/Archives/edgar/data/2026199/000202619925000008/) [Form D May 2026 · $5.85M](https://www.sec.gov/Archives/edgar/data/2026199/000202619926000007/) [Form D May 2026 · $3.34M](https://www.sec.gov/Archives/edgar/data/2026199/000202619926000006/) |
| ACArive Capital Markets | 6 | 8.55% | $3.51M | [Form D Aug 2023 · $4.49M](https://www.sec.gov/Archives/edgar/data/1682558/000168255823000008/) [Form D Mar 2023 · $4.2M](https://www.sec.gov/Archives/edgar/data/1682558/000168255823000003/) [Form D Sep 2023 · $3.87M](https://www.sec.gov/Archives/edgar/data/1682558/000168255823000010/) |
| DGThe Dalmore Group | 6 | 8.01% | $511K | [Form D Mar 2023 · $965K](https://www.sec.gov/Archives/edgar/data/1968349/000156761923004666/) [Form D Jun 2024 · $890K](https://www.sec.gov/Archives/edgar/data/2025541/000202554124000001/) [Form D Jul 2023 · $536K](https://www.sec.gov/Archives/edgar/data/1984129/000198412923000001/) |
| TSTPEG Securities | 6 | 7.00% | $8.24M | [Form D Feb 2023 · $26.9M](https://www.sec.gov/Archives/edgar/data/1963678/000196367123000002/) [Form D Feb 2023 · $11.1M](https://www.sec.gov/Archives/edgar/data/1963822/000196382223000001/) [Form D Feb 2023 · $9M](https://www.sec.gov/Archives/edgar/data/1961597/000196159723000001/) |
| MGMaxim Group | 6 | 7.69% | $1.87M | [Form D Jul 2025 · $11.7M](https://www.sec.gov/Archives/edgar/data/2077245/000207724525000001/) [Form D May 2026 · $2.99M](https://www.sec.gov/Archives/edgar/data/1703850/000089183926000163/) [Form D Dec 2025 · $2.15M](https://www.sec.gov/Archives/edgar/data/882291/000088229125000004/) |
| CCarofin | 6 | 10.54% | $1.11M | [Form D Jul 2023 · $10M](https://www.sec.gov/Archives/edgar/data/1987155/000198715523000001/) [Form D May 2023 · $1.58M](https://www.sec.gov/Archives/edgar/data/1976373/000197637323000001/) [Form D Jan 2023 · $1.29M](https://www.sec.gov/Archives/edgar/data/1961812/000196181223000001/) |
| MIMcDermott Investment Services | 6 | 7.88% | $25.4M | [Form D Jan 2023 · $66.8M](https://www.sec.gov/Archives/edgar/data/1943405/000192095723000003/) [Form D Jan 2023 · $52.4M](https://www.sec.gov/Archives/edgar/data/1922296/000192095723000002/) [Form D Jan 2023 · $31.5M](https://www.sec.gov/Archives/edgar/data/1850598/000185059823000001/) |
| ACArkadios Capital | 6 | 6.59% | $13.6M | [Form D Mar 2026 · $145M](https://www.sec.gov/Archives/edgar/data/2085986/000093244026000014/) [Form D Jan 2023 · $31.5M](https://www.sec.gov/Archives/edgar/data/1850598/000185059823000001/) [Form D Aug 2024 · $16.1M](https://www.sec.gov/Archives/edgar/data/2034836/000203483624000001/) |
| RFRealized Financial | 6 | 9.62% | $35.8M | [Form D Jan 2023 · $73.6M](https://www.sec.gov/Archives/edgar/data/1920957/000192095723000001/) [Form D Jan 2023 · $66.8M](https://www.sec.gov/Archives/edgar/data/1943405/000192095723000003/) [Form D Jan 2023 · $52.4M](https://www.sec.gov/Archives/edgar/data/1922296/000192095723000002/) |
| CCapulent | 6 | 7.29% | $35.8M | [Form D Mar 2026 · $145M](https://www.sec.gov/Archives/edgar/data/2085986/000093244026000014/) [Form D Jan 2023 · $73.6M](https://www.sec.gov/Archives/edgar/data/1920957/000192095723000001/) [Form D Jan 2023 · $52.4M](https://www.sec.gov/Archives/edgar/data/1922296/000192095723000002/) |
| LCLifeSci Capital | 6 | 6.00% | $134M | [Form D Apr 2025 · $307M](https://www.sec.gov/Archives/edgar/data/1613780/000123191925000030/) [Form D Dec 2024 · $250M](https://www.sec.gov/Archives/edgar/data/1750284/000124323324000002/) [Form D Dec 2023 · $180M](https://www.sec.gov/Archives/edgar/data/1636282/000120919123059745/) |
| RCRed Cloud Securities | 6 | 6.00% | $1.86M | [Form D Aug 2023 · $6.06M](https://www.sec.gov/Archives/edgar/data/1907184/000156761923007019/) [Form D Apr 2024 · $2M](https://www.sec.gov/Archives/edgar/data/1733968/000172768924000037/) [Form D Apr 2023 · $1.96M](https://www.sec.gov/Archives/edgar/data/1476573/000156761923005759/) |

A broker-dealer’s appearance here reflects Form D filings only. It is not a recommendation or an assessment of the firm. Check a firm’s registration and disciplinary history on FINRA BrokerCheck before engaging it.

Coverage: original Form D filings by operating companies (pooled investment funds excluded). Form D amounts are self-reported by the issuer, can be estimates, and are not reviewed for accuracy by the SEC.

Deal Cost Index. Data: CC BY 4.0.