Form D

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Form D is an SEC filing form to be used to file a notice of an exempt offering of securities under Regulation D of the U.S. Securities and Exchange Commission. Commission rules require the notice to be filed by companies and funds that have sold securities without registration under the Securities Act of 1933 in an offering based on a claim of exemption under Rule 504, 505 or 506 of Regulation D or Section 4(6) of that statute. Commission rules further require the notice to be filed within 15 days after the first sale of securities in the offering. For this purpose, the date of first sale is the date on which the first investor is irrevocably contractually committed to invest. If the due date falls on a Saturday, Sunday or holiday, it is moved to the next business day.

Privately held companies that raise capital are required to file a Form D with the SEC to declare exempt offering of securities. Many of these filings show investments in small, growing companies through venture capital and angel investors, as well as certain pooled investment funds.

Form D forms can be used to gain information and understand better competitors. The information in Form D is usually highly sensitive for ventures and start-ups and they prefer not to reveal it. If it was not the regulation, they will never release a news about their offerings. This is because the amount raised or planned could help competitors understand what the business is doing. Entrepreneurs usually want to keep their financing a ‘secret’ so they can stay in stealth mode for longer.[1]


  1. ^ Kof, Pete. "Private Financing News". Retrieved May 15, 2015. 

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