IPO costs
This is what you should expect in terms of costs if you decide to conduct an IPO via Regulation A+;
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Legal fee: $90k (partially paid upfront)
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Underwriter fee: 8% of the portion of capital they raise plus warrants and a lower fee for the online capital raised of 2%
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Marketing costs: The minimum you could get away with for an offering that is easy to sell is 4% but 6-9% is more typical, in marketing cost. (partially upfront, not charged as a percentage)
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Underwriter fee: 30k-50k (upfront)
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Manhattan Street Capital Fees: To see our detailed fee description, please click here.
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Audit (going back 2 years) at on filing Reg A+, at US GAAP level, PCAOB level audit required for post listing reporting periods.
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The annual fee on the NASDAQ is around $40,000, and $60,000 and above on the NYSE.
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To list the company on the OTCQB marketplace, the cost of registration and ticker is $2,500 paid to OTC Markets. Higher price for OTCQX - $5k. Note that most Reg A+ Tier 2 offerings that complete qualify to list on the OTCQB in a regular Reg A+ with lower fees and the lighter reporting burden inherent to Reg A+, not S-1 level reporting
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The annual fee on the OTC costs $12,000 per year for the QB – paid to OTC Markets. Higher price for OTCQX - $20k.
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DTCC Filing fee to make your stock easier to transfer to investor brokerage accounts, $12k-18k.
You might be interested in our FAQ that explains the Regulation A+ IPO process in details. We have broken up the process into steps and illustrated it with a summary view flowchart.
Related Content:
Reg A+ IPO with Manhattan Street Capital
IPO Consulting Service from Manhattan Street Capital
Timeline Schedule for a Regulation A+ IPO