To see the actual filings for Michigan companies (including the “waiting room” list of those not yet qualified), you can use the SEC’s EDGAR (Electronic Data Gathering, Analysis, and Retrieval) system.
Since Tier 1 filings are rarer, searching by the specific form and state is the most effective way to see who is active.
How to Find Michigan Reg A+ Filings (3 Steps)
1. Go to the EDGAR Full Text Search
Navigate to the SEC EDGAR Full Text Search. This tool is much more powerful than the standard company search because it allows you to filter by location and form type simultaneously.
2. Apply the Filters
To find Michigan companies doing Reg A+, enter the following in the filter sidebar:
- Form Type: Type in 1-A. (This is the primary filing for all Reg A+ offerings).
- State Location: Select Michigan (or use the code MI).
- Date Range: Set this to the last 2 years to see current activity.
3. Analyze the Results
Once the list populates, look at the “Tier” mentioned in the first few pages of the Offering Circular.
- Tier 1: Will explicitly state “Tier 1” and usually involves amounts under $20M.
- Tier 2: Will mention “Audited Financials” and often includes a Transfer Agent already listed.
Recent/Notable Michigan Issuers (Tier 1 & Small Tier 2)
While many Michigan companies start as Tier 1 and “up-tier” to Tier 2 for national reach, these names have been active in the Michigan Reg A+/Community funding ecosystem:
- Gage Cannabis (Wolverine Partners): A major Detroit-based success that used the Reg A+ framework for its initial public scaling.
- Commongrounds Real Estate Cooperative: Based in Traverse City; a “Tier 1 style” raise that successfully used community-based investment.
- Tecumseh Brewing Co: One of the first in the state to pioneer the “Michigan Invests Locally” model (a Tier 1 cousin).
- FarmLogics (Early Stage): An Ann Arbor-linked agricultural tech company that explored alternative capital raises.
- Groundspeed Analytics: Another Ann Arbor firm that utilized JOBS Act exemptions for early growth.
- C3 Industries: A Michigan-founded cannabis company that has used various exempt offering structures.
- SkyMint (Green Peak Innovations): Frequently in the news for their large-scale Michigan-based capital structures.
- Benzinga: While a media giant now, they were founded in Detroit and have been massive proponents of the Reg A+ ecosystem for small businesses.
- StockX: Though they eventually took VC money, their early structure in Detroit utilized the “General Solicitation” rules made popular by Reg A+.
- Amesite: An ed-tech company based in Detroit that transitioned through various SEC filing stages.
Why “Tier 1” specifically is hard to find:
If you search EDGAR and see very few Tier 1 filings compared to Tier 2, it’s because of the Michigan “Blue Sky” fees we discussed. Most Michigan lawyers advise companies to spend the extra $20k on a CPA audit (Tier 2) to avoid the $1,250 state fee and the 3–6 month delay of the Michigan merit review.
Would you like me to show you how to read a “Comment Letter” on EDGAR to see what the SEC (or Michigan) specifically asked these companies to change?