SEC VERIFY DATA
TITLE: What Is SEC Form C Regulation Crowdfunding Filing Explained
SEO DESCRIPTION: Learn what SEC Form C is, what companies disclose in Regulation Crowdfunding offerings, and how Form C, Form C-U and Form C-TR are used.
WHAT IS SEC FORM C
Form C is the primary disclosure filing used by companies raising capital under Regulation Crowdfunding, commonly called Reg CF.
Before launching a Regulation Crowdfunding offering, an issuer generally files Form C with the SEC through EDGAR and provides the information to investors through the intermediary hosting the offering.
WHAT INFORMATION DOES FORM C CONTAIN
Form C can contain detailed information about the issuer and the proposed financing.
Common disclosures include the company's legal name, jurisdiction and date of organization, business description, directors and officers, ownership, target offering amount, maximum offering amount, price of the securities, funding deadline, intermediary compensation, use of proceeds, related-party transactions and financial condition.
Depending on the size of the offering and other circumstances, financial statements may also need to satisfy different review or audit requirements.
WHAT IS FORM C-U
Form C-U is used to report certain updates about the progress or completion of a Regulation Crowdfunding offering.
For example, an issuer may disclose the total amount of securities sold and information relating to completion of the offering.
WHAT IS FORM C-TR
Form C-TR is used when an issuer terminates its Regulation Crowdfunding annual reporting obligations after satisfying the applicable conditions.
It should not be confused with the original Form C used to launch an offering.
FORM C VS FORM D
Form C and Form D relate to different exempt offering frameworks.
Form C is primarily associated with Regulation Crowdfunding. Form D is generally used for offerings relying on Regulation D exemptions such as Rule 504, Rule 506(b) and Rule 506(c).
A Form C filing may provide more extensive investor-facing disclosure than a typical Form D notice.
WHY FORM C MATTERS
FilingDossier uses Form C as a primary source when researching crowdfunding issuers. The filing can be compared with the issuer's website, management claims, financial disclosures, offering platform and other public records.
The existence of Form C does not mean the SEC has approved or endorsed the issuer or investment.
DISCLAIMER
FilingDossier is an independent research platform and is not affiliated with or endorsed by the SEC. This material is provided for informational and research purposes only and does not constitute legal or investment advice.