Idea Details

Securities Filing Tracking

Last activity 06-29-2023 15:12
Niki Miller's profile image
By: Niki Miller
02-27-2023 17:24

Each security has columns for federal exemption, state exemption, and state of residency. I would love to have another column to track the type of filing that was done, and the date of the filing. For example, if we are doing a SAFE financing and relying on Section 4(a)2, and the investor is in CA, I would love to have a column where I can input 25102(f) filed on X date. For a Series A financing, I would love a column that would allow me to input Form D filed on X date. Similar to a board consent, there would be a place to upload the securities filing documents - A Form D, 25102(f), 25102(o), NY stock option plan registration docs, etc. Similar to a board consent/board approval, each security would be tied to the filing. If there is an exemption from filing, there would even be a choice to put "self-executing" and then the date the paralegal reviewed the blue sky regs to determine the exemption (or could be the date of the issuance of the security as the date of the self-execution). Eventually, it would be great to build this out where I can run a securities compliance report that will show me all the filings that were done, which securities they cover (i.e., 25102(f) filed on 1/1/2020 which covers the 2 founder common stock certs). That way, I don't have to keep a separate securities tracking spreadsheet for each client. It can be all in one place, with the cap table, showing the securities filings were complete. Then it isn't such a nightmare trying to figure out what securities filings need to be done - especially when getting the company ready to go public.