Form D: Parse Private Placement and Regulation D Filings

Overview

Form D is an SEC filing used by companies seeking to raise capital through private placements under Regulation D exemptions. These filings provide critical insights into private fundraising activity, including offering amounts, investor counts, and the parties involved in the capital raise.

The FormD class in edgartools parses Form D XML filings into structured Python objects, making it easy to extract and display offering data programmatically.

Access Pattern

from edgar import Filing

# Get a Form D filing
filing = Filing(form="D", ...)

# Parse into FormD object
form_d = filing.obj()

Core Data Structure

FormD (Top-Level Object)

Property	Type	Description
`submission_type`	`str`	Filing type (e.g., "D", "D/A" for amendments)
`is_live`	`bool`	Whether this is a live filing (vs. test)
`is_new`	`bool`	Whether this is a new offering (vs. amendment)
`primary_issuer`	`Issuer`	The company raising capital
`related_persons`	`List[Person]`	Executives, directors, and promoters involved
`offering_data`	`OfferingData`	Details about the capital raise
`signature_block`	`SignatureBlock`	Filing signatures and authorization

Issuer Information

Issuer

The primary_issuer property contains the company raising capital.

Property	Type	Description	UI Usage
`cik`	`str`	SEC Central Index Key	Link to SEC filings
`entity_name`	`str`	Legal name of company	Primary display name
`entity_type`	`str`	Legal structure (LLC, Corporation, LP, etc.)	Company type badge
`primary_address`	`Address`	Business address	Contact/location display
`phone_number`	`str`	Contact phone	Contact info
`jurisdiction`	`str`	State/country of incorporation	Jurisdiction badge
`year_of_incorporation`	`str`	Year company was formed	Age indicator
`incorporated_within_5_years`	`bool`	Recently formed flag	Startup indicator
`issuer_previous_names`	`List[str]`	Prior company names	Name history
`edgar_previous_names`	`List[str]`	Prior names in SEC system	Name history

Address

Property	Type	Description
`street1`	`str`	Street address line 1
`street2`	`str`	Street address line 2 (optional)
`city`	`str`	City
`state_or_country`	`str`	State/country code (e.g., "CA", "DE")
`state_or_country_description`	`str`	Full state/country name
`zipcode`	`str`	Postal code
`empty`	`bool` (property)	True if address has no data

Offering Details

OfferingData

The offering_data property contains the core capital raise information.

Property	Type	Description	UI Usage
`industry_group`	`IndustryGroup`	Industry classification	Industry filtering/display
`revenue_range`	`str`	Issuer's revenue bracket	Size indicator
`federal_exemptions`	`List[str]`	Reg D exemptions claimed (506(b), 506(c), etc.)	Exemption badges
`is_new`	`bool`	New offering vs. amendment	Status indicator
`date_of_first_sale`	`str`	When sales began	Timeline display
`more_than_one_year`	`bool`	Offering duration flag	Duration indicator
`is_equity`	`bool`	Equity securities offered	Security type badge
`is_pooled_investment`	`bool`	Pooled investment fund type	Fund type indicator
`business_combination_transaction`	`BusinessCombinationTransaction`	M&A related flag	Transaction type
`minimum_investment`	`str`	Minimum investor commitment	Investment threshold
`offering_sales_amounts`	`OfferingSalesAmounts`	Capital raise metrics	Key financial metrics
`investors`	`Investors`	Investor information	Investor stats
`sales_compensation_recipients`	`List[SalesCompensationRecipient]`	Brokers/finders involved	Sales team display
`sales_commission_finders_fees`	`SalesCommissionFindersFees`	Commission amounts	Fee breakdown
`use_of_proceeds`	`UseOfProceeds`	How funds will be used	Proceeds allocation

OfferingSalesAmounts

Key metrics for displaying offering progress.

Property	Type	Description	UI Usage
`total_offering_amount`	`object`	Target raise amount	Progress bar max
`total_amount_sold`	`object`	Amount already raised	Progress bar current
`total_remaining`	`object`	Amount still to raise	Progress bar remaining
`clarification_of_response`	`str`	Additional notes	Tooltip/details

Investors

Property	Type	Description	UI Usage
`has_non_accredited_investors`	`bool`	Non-accredited investors allowed	Investor type badge
`total_already_invested`	`object`	Number of investors	Investor count display

IndustryGroup

Property	Type	Description
`industry_group_type`	`str`	Industry category (Real Estate, Technology, etc.)
`investment_fund_info`	`InvestmentFundInfo`	Fund-specific info if applicable

InvestmentFundInfo (for pooled funds)

Property	Type	Description
`investment_fund_type`	`str`	Fund type (Hedge Fund, Private Equity, Venture Capital, etc.)
`is_40_act`	`bool`	Whether fund is registered under Investment Company Act

Sales Compensation

SalesCompensationRecipient

Brokers, finders, and placement agents who receive compensation for the offering.

Property	Type	Description	UI Usage
`name`	`str`	Individual/firm name	Broker name display
`crd`	`str`	FINRA CRD number	BrokerCheck link
`associated_bd_name`	`str`	Associated broker-dealer name	BD relationship
`associated_bd_crd`	`str`	BD's CRD number	BD BrokerCheck link
`address`	`Address`	Contact address	Location display
`states_of_solicitation`	`List[str]`	States where they can solicit	Geographic scope

SalesCommissionFindersFees

Property	Type	Description
`sales_commission`	`object`	Total sales commissions paid
`finders_fees`	`object`	Total finders fees paid
`clarification_of_response`	`str`	Additional notes

UseOfProceeds

Property	Type	Description
`gross_proceeds_used`	`object`	Amount of proceeds already used
`clarification_of_response`	`str`	Description of use

Person

Executives, directors, and promoters associated with the offering.

Property	Type	Description
`first_name`	`str`	Person's first name
`last_name`	`str`	Person's last name
`address`	`Address`	Contact address

Signatures

SignatureBlock

Property	Type	Description
`authorized_representative`	`bool`	Whether signer is authorized representative
`signatures`	`List[Signature]`	List of signatures on filing

Signature

Property	Type	Description
`issuer_name`	`str`	Name of issuing entity
`signature_name`	`str`	Signature as signed
`name_of_signer`	`str`	Signer's printed name
`title`	`str`	Signer's title
`date`	`str`	Date signed

Federal Exemptions Reference

Common exemption codes found in federal_exemptions:

Code	Description
`06b`	Rule 506(b) - Private placement, no general solicitation
`06c`	Rule 506(c) - General solicitation allowed, accredited only
`04`	Rule 504 - Up to $10M in 12 months
`3C`	Section 3(c) - Investment company exemption
`3C.1`	Section 3(c)(1) - 100 investor limit
`3C.7`	Section 3(c)(7) - Qualified purchasers only

Industry Group Types

Common values for industry_group_type:

Real Estate
Banking & Financial Services
Technology
Health Care
Manufacturing
Retailing
Energy
Pooled Investment Fund
Other

UI Component Recommendations

Summary Card

Display the key offering metrics prominently: - Issuer name and entity type - Total offering amount / amount sold (progress indicator) - Number of investors - Minimum investment - Date of first sale - Federal exemptions (as badges)

Issuer Details Panel

Entity name, type, jurisdiction
Year of incorporation (with "startup" badge if < 5 years)
Address and phone
Previous names (if any)

Offering Metrics Dashboard

Offering amount vs. sold (bar chart or progress ring)
Investor count
Minimum investment threshold
Security type (equity badge)
Duration indicator

Name column
Address column (expandable)
Useful for due diligence

Sales Compensation Table

Broker/finder name
CRD number (link to FINRA BrokerCheck)
Associated broker-dealer
States of solicitation (collapsed list with expand)

Signatures Panel

Signer name and title
Date signed
Authorization status

Common Queries and Filters

For SAAS features, consider enabling filters by:

Offering Size - Filter by total_offering_amount ranges
Industry - Filter by industry_group_type
Exemption Type - Filter by federal_exemptions (506(b) vs 506(c))
Investor Type - Filter by has_non_accredited_investors
Entity Type - Filter by issuer entity_type
Jurisdiction - Filter by issuer jurisdiction
Date Range - Filter by date_of_first_sale
New vs Amendment - Filter by is_new

Data Quality Notes

Monetary amounts - Stored as strings/objects; may need parsing for numeric operations
Optional fields - Many fields can be None; handle gracefully in UI
States of solicitation - May contain "All States" as a single value
Previous names - Filter out literal "None" strings
Date formats - May vary; normalize for display

Example Data Access

# Get filing and parse
form_d = filing.obj()

# Access issuer info
print(form_d.primary_issuer.entity_name)
print(form_d.primary_issuer.jurisdiction)

# Access offering metrics
print(form_d.offering_data.offering_sales_amounts.total_offering_amount)
print(form_d.offering_data.offering_sales_amounts.total_amount_sold)
print(form_d.offering_data.investors.total_already_invested)

# List exemptions
for exemption in form_d.offering_data.federal_exemptions:
    print(f"Exemption: {exemption}")

# List related persons
for person in form_d.related_persons:
    print(f"{person.first_name} {person.last_name}")

# List sales compensation recipients
for recipient in form_d.offering_data.sales_compensation_recipients:
    print(f"{recipient.name} (CRD: {recipient.crd})")
    print(f"  States: {', '.join(recipient.states_of_solicitation)}")