While there are no major transfer agents physically headquartered in Michigan that specialize exclusively in Reg A+, most top-tier SEC-registered agents operate nationally and are well-versed in Michigan’s “Blue Sky” requirements.
For a Tier 1 offering (up to $20M), you want an agent that is “DTC-eligible,” meaning they can handle electronic shares that move easily into investor brokerage accounts.
Top Transfer Agents for Regulation A+ (Tier 1 & 2)
| Transfer Agent | Best For… | Key Features |
|---|---|---|
| VStock Transfer | Small to Mid-Cap | Attorney-managed; very experienced with Reg A+ and OTC listings. Known for high-touch service. |
| ClearTrust | Customer Support | No hidden fees or exit penalties. They offer “white label” portals and help with DTC eligibility. |
| Computershare | Large Scale / IPOs | The “gold standard” for companies planning to eventually list on the NASDAQ or NYSE. More expensive but high prestige. |
| Equiniti (EQ) | Complex Offerings | Great for companies with unique cap table needs or those transitioning from private to public. |
| Securities Transfer Corp | Cost-Effectiveness | A solid choice for Tier 1 issuers who need standard compliance without the “big firm” price tag. |
3 Questions to Ask Before Hiring One
Since you are doing a Tier 1 in Michigan, ask these specific questions during your demo:
- “Are you a DTC-participating agent?” * Why: If they aren’t, your investors will receive paper certificates that are very hard to sell later. You want “book-entry” (digital) shares.
- “Do you handle ‘Test the Waters’ (TTW) tracking?” * Why: If you are marketing in Michigan before you are “qualified,” you need to track those leads. Some agents have software that plugs directly into your website to do this.
- “What are your ‘Corporate Action’ fees?”
- Why: Some agents charge a low monthly fee but hit you with $1,000+ every time you need to issue new shares or change a company name.
The “Portal” Connection
Many of these transfer agents partner with funding portals (like DealMaker, Manhattan Street Capital, or StartEngine). If you use a portal to raise the money, they often mandate a specific transfer agent because their systems are already “synced.”
Would you like me to look up the current estimated setup fees for any of these specific agents?