Primal ETH is requesting a $2,700.00 grant to begin the FINRA application process to become an authorized Regulation Crowdfunding (“Reg CF”) Portal.
Primal ETH, a Delaware corporation, is an SEC-registered Reg CF Portal that is not yet an authorized member of FINRA.
Once accepted by FINRA, Primal ETH will begin raising funds in order to develop a portal that integrates DAO platforms as issuers of Reg CF securities that are tokenized on the Ethereum network.
Through the Reg CF exemption, participating companies can sell up to $1.07 million worth of securities within a 12-month period to the general public, including non-accredited investors.
Reg CF issuers are required to file certain disclosures with the SEC, which can be burdensome, but OpenEsquire is poised to help issuers with this process in exchange for a small fee. A draft template of Reg CF issuer disclosures can be found here.
In order to operate as a Reg CF portal, Primal ETH must begin an application process with FINRA, which requires an application and investigation fee of $2,700.00.