To get accurate quotes for your Regulation A+ offering, you need to provide professionals with a clear “Scope of Work.” Below is a template you can use as a Request for Proposal (RFP) to send to both CPAs and Securities Attorneys.
RFP Template: Regulation A+ Professional Services
To: [Firm Name]
From: [Your Name/Company Name]
Date: [Current Date]
Subject: Request for Proposal: Regulation A+ [Tier 1 or Tier 2] Offering Support
1. Project Overview
[Company Name] is a Michigan-based [Industry, e.g., Tech] company. We intend to launch a Regulation A+ [Tier 1 or Tier 2] offering to raise approximately $[Target Amount] for [Purpose, e.g., scaling our AI platform].
2. Requested Scope of Services
For Securities Attorneys:
- Preparation and filing of SEC Form 1-A and all required exhibits.
- Management of the SEC comment and response process.
- For Tier 1: Coordination of “Blue Sky” filings for Michigan [and other states if applicable] and management of the NASAA Coordinated Review.
- Drafting of the Subscription Agreement and Investor Questionnaire.
- Review of “Testing the Waters” marketing materials.
For CPAs:
- For Tier 2: Performance of a full financial audit for the two most recent fiscal years in accordance with US GAAP/PCAOB standards.
- For Tier 1: Preparation of a financial review or compilation as required by the SEC and Michigan LARA.
- Assistance with financial disclosures in the Offering Circular (MD&A section).
- Consent to include audit/review reports in the SEC filing.
3. Required Information in Your Proposal
Please include the following in your response:
- Experience: List at least 3 Regulation A+ filings your firm has successfully “Qualified” in the last 24 months.
- Fee Structure: * What is the fixed fee for the initial filing?
- What are the hourly rates for “Comment Letter” responses?
- Do you offer any “Success Fees” or deferred payment options?
- Timeline: What is your estimated time from “Kickoff” to “SEC Filing”?
- Michigan Specifics (Attorneys): Describe your experience with the Michigan LARA merit review process.
How to Use This RFP Effectively
- The “Fixed Fee” Trap: Many firms will give you a low “entry” price but then bill $500/hour for every SEC question. Ask for a “Capped Fee” that includes at least two rounds of SEC comments.
- Audit Readiness: If you are doing Tier 2, ask the CPA: “If our books are on QuickBooks but not ‘audit-ready,’ do you provide a separate pre-audit clean-up service?” (Note: The same person cannot do both the cleanup and the audit for independence reasons, but they can refer you to a partner).
- Blue Sky Strategy: If you choose Tier 1, ask the attorney specifically: “Based on our current cap table, do you foresee Michigan LARA requiring an escrow of founder shares?”
Next Step Recommendation
Would you like me to find a few “Reg A+ specialized” law firms that have recently worked with Michigan tech companies so you can send this RFP to them today?