Yes, issuers can file multi-issuer Forms D in EFD. However, please note that while the SEC allows the filing of a single Form D with multiple issuers, some states have specific requirements for an offering with multiple issuers and may require the filing of additional Forms D and/or payment of additional filing fees. These additional filings and fees will be collected by the states outside of the EFD system. Consistent with this guidance, you may wish to contact the regulator in any state you intend to make a multi-issuer filing in.
The following states may require additional forms and fees:
- Alabama
- California - California requires all Form D notice filings listing multiple issuers to be filed outside of the EFD System. The state requires each Issuer selling in California to file its own Form D and pay a separate $300 filing fee. For more information, see https://docqnet.dfpi.ca.gov/
- Georgia
- Idaho - Idaho requires all Form D notice filings listing multiple
issuers to file a New Notice for each Issuer on a Form D and pay a separate $50
filing fee if they have sold securities in Idaho.
- Illinois
- Kentucky
- Minnesota
- Mississippi
- Nevada
- New Hampshire
- New Mexico
- North Dakota
- Pennsylvania - Pennsylvania requires a Form D new notice filing for each issuer listed on your Form D offering. If
you have a multi-issuer filing, you will need to file Additional New Notices
for Pennsylvania for each issuer listed on this offering.
- Puerto Rico
- South Dakota
- Tennessee
- Texas
- U.S. Virgin Islands
- Utah
- Virginia
- Wyoming
- Washington, DC