About Summit by White Mountain Capital

Information For Companies Looking To Raise Capital

How much does it cost to raise capital with Summit?

  Fee When Paid
Commission (cash) 5% of amount raised (minimum $25,000) @ each closing
Commission (securities) 5% of amount raised @ each closing
Expense Reimbursement Typically $8,000 – $12,000

$5,000 paid upfront

Balance @ first closing

Escrow fees

(deducted by escrow agent)

$1,500 @ each closing

What documents do you need to disclose for the offering?

  • Terms of Offering
    • An overview of the key terms of the offering including the target amount raised, valuation, price per share, minimum closing and class of stock.
  • Offering Presentation
    • A detailed presentation containing all the information regarding the business and the management team to explain the company to investors.


  • Form C
    • A form filed with the Securities & Exchange Commission detailing all the information regarding the Offering and risk factors.
  • Management Bios & Photos
    • Summaries of the management team’s relevant professional and educational credentials as well as headshot photographs of each member of the team.
  • Explainer Video
    • A short multimedia presentation that walks investors through getting to know the company and the management team.
  • Financials
    • Complete financial statements for the past two years. For offerings >$107,000, financial statements must be reviewed by an outside CPA firm.

What is Form C?

A form filed with the Securities & Exchange Commission detailing all the information regarding the Offering and risk factors.

What is form C-AR?

SEC required annual report after successful closing of a crowdfunding round.

What is form C-TR?

A filing by an eligible company which terminates the requirement of filing an annual report to the SEC.

How long does the process take before a company can start fundraising?

The timeline for launching an investment on the Summit platform is governed by a number of factors including how quickly the issuer sends all of the required information and how long it takes for the issuer to prepare all of the required forms (including potentially obtaining reviewed financial statements). 

What support services are offered aside from fundraising?

Pre-Offering Support

    • Starting with a deep dive into the use of proceeds, White Mountain Capital helps companies develop realistic targets and pro-forma projections.
    • White Mountain Capital reviews companies offering structure and pre-money valuation and compares them to benchmark targets and historical comps from other companies.
    • White Mountain Capital provides comments and guidance on companies pitch decks and any other materials such as explainer videos and product demo videos to help refine the message.



  • Our transfer agents assist with transferring all current stock and options held to an electronic book entry system to expedite the issuance of new shares upon closing.
  • When the offering documents are complete, White Mountain Capital will file the Form C with the SEC via EDGAR.
  • Valuation Guidance
  • Post Offering Support
    • Through the transfer agent, Companies have access to a Shareholder Servicing portal which enables them to manage their cap table and provide required and supplemental information to shareholders regarding their investment (including book entry electronic shares and shareholder reporting).
    • White Mountain Capital also provides assistance with filing the required annual report with the SEC (Form C-AR) as well as the termination report, when SEC reporting is no longer required (Form C-TR).
    • White Mountain Capital is a resource to companies throughout their lifecycle including providing access to debt financing, asset backed loans, and equity capital markets.

Is my company a good fit for crowdfunding?

  • Companies that are a good fit include:
    • Companies that have a product or service that appeals to a broad audience.
    • Companies and management teams with a proven track-record of success.
    • Companies with detailed plans for how to execute on their business model.
    • Companies with a large social media following and an engaged fan base.
    • Companies who benefit from exposure to a large number of potential new customers.
    • Companies with real innovative ideas for how to change the world.
  • Examples of companies that are not a good fit:
    • Companies with a very complex business model that is difficult for the average investor to comprehend.
      • (e.g. a big data, machine learning, artificial intelligence aggregator of agricultural yield via satellite imagery).
    • Companies and management teams with no history or a history of professional failures.
    • Companies with generic business models that are difficult to distinguish from competitors.
    • Companies that operate in “stealth mode.”
    • Companies with vague plans for achieving unrealistic goals.
    • Companies with founders who are not goal aligned with investors.

Is there a limit on how much money a company can raise?

Yes, the SEC permits a company to raise a maximum aggregate amount of $5 million through crowdfunding offerings in a 12-month period under Regulation Crowdfunding rules.

Can companies based outside the US raise money on Summit?

No, non U.S. entities are excluded as are companies that classify with the following criteria:

    • Companies incorporated outside of the United States of America.
    • Companies with principal place of business of business outside of the United States of America.
    • Companies who derive substantially all of their revenue outside of the United States of America.

What type of company is excluded from fundraising on your platform?

  • Non-US entities.
  • Unincorporated entities (sole proprietors, partnerships, non-stock companies).
  • Bad Actors (as defined by SEC Rule 506).
    • Certain criminal convictions.
    • Certain court injunctions and restraining orders.
    • SEC disciplinary orders, cease and desist orders, stop orders and orders suspending exemptions.
    • Suspension or expulsion from membership in an SRO such as FINRA.
    • US Postal Service false representation orders.
  • Companies not engaged in an operating business or with an unidentified acquisition.
  • Companies in excluded classes of business:
    • Non-Regulated Gambling.
    • Adult Industry.
    • Multi-Level Marketing or other Pyramid Selling type businesses.

What are Blue Sky Laws and how do they apply to crowdfunding?

Each state has its own securities regulator who enforces what are known as “blue sky” laws. If a company is selling securities, it must comply with both federal regulations and state securities laws and regulations in the states where securities are offered and sold (typically, the states where offerees and investors are based).


How does Summit assign valuation?

Summit does not assign valuations. Companies set their own valuations independently although Summit can be helpful in providing information regarding valuations of other comparable companies.

White Mountain Capital LLC website and its links (together the “Web Site”) are presented for informational purposes only. The Web Site is neither offering or soliciting to buy securities of any kind nor is it giving any type of investment advice upon which any type of investment advice upon which any person should rely without giving due consideration to other sources of information. White Mountain Capital LLC is a registered Broker-Dealer and a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). All retail brokerage customer securities transactions are cleared through Hilltop Securities Inc (SWST).

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