Monthly Archives: May 2026

Activist Investing, Ben Graham, Business Articles, History of Finance, Investing, Investment Philosophy, Learn About Investing, Securities, Value Investing, Warren Buffett

Berkshire Hathaway Acquires Warren Buffett

It was May 6th, 1964 New Bedford, Massachusetts Warren Buffett’s (Buffett Partnership LTD) owns Seven Percent (7%) of Berkshire Hathaway’s outstanding shares totaling One Million Five Hundred Eighty Three Thousand and Six Hundred and Eighty (1,583,680),a failing textile company was busy seeking outstanding shares from it’s shareholders and while conducting the share negotiations Berkshire’s Management Seabury Stanton made a miscalculation of slighting a young partnership investment manger named Warren Buffett.

What happens next will change the fate of it’s CEO and secure the legendary investors future.

It was a normal day in may 1964 Warren Buffett was a Humble Midwesterner who wore his good faith on his sleeves. Began noticing the markets downward pressure on a little declining Textile Company named Berkshire Hathaway. After some research Buffett briefly meets the CEO at a gathering. The company was closing factories and repurchasing shares on the open market from shareholders as a way to slow it’s Market downward pressure on the Stock Market.

Then CEO Seaborn Stanton of Berkshire Hathaways was a Harvard graduate who’s personality included a passive aggressive smugness when peacocking around. Stanton mailed a share buyback letter to the Buffett Partnership Warren Buffett the Managing Partner of Buffett Partnership Limited has the fortune of selling his stake in Berkshire at a quick profit. Based on the fact Buffett received a letter by Seabury Stanton who manages Berkshire Hathaway was asking Shareholders to SELL back 225,000 class A shares to Berkshire Hathaway Stock at a price point of $11.375 per share. Buffett shares; “Buffett admits he expected the letter from Berkshire’s Stanton and was surprised at the price Seabury Stanton was offering.”

“A SLIGHTED OFFER WARREN BUFFETT COULD NEVER IGNORE”

At the time Warren Buffett had all of his net worth inside Buffett Partnership Limited. And one day during the offering period in 1964 Stanton and Mr. Buffett and had a brief conversation with Buffett asking what price point would Buffett Partnership Limited be willing to sell it’s shares? “Buffett answers $11.50!” Stanton responded, “Fine we have a deal.” So a few days later after the Acceptance by Stanton? Berkshire did a disservice to Stanton and sent a letter to Buffett Partnership Limited offering an Eighth of a Point lower. We don’t know the actual words. However we can assume this slight was anything but honorable. It would cost Seabury Stanton his Company later.

Crediting Business Insider: “Warren Buffett’s entire legacy would’ve been quite different if he had swallowed that eighth of a point ($0.125) discount and just sold. The $11.275 Stanton was offering was a massive 50% return relative to the $7.50 he paid just two years before in December 1962.

Buffett describes how the New England textile industry was spiraling. Which was His initial rationale for buying shares, however, was that it was selling at a steep discount to its working capital per share and book value per share.”

What does a $0.125 drop in offer Mean?

So let’s get this straight? Stanton wanted to lowball Buffett Partnership Limited’s offer of the initial $11.50 per share down to $11.275 per share. This alone equals a Eighth of a Point. And if we consider the initial Price Buffett paid two years previously of $7.50 per share for Berkshires Shares. Equals a 50% margin at $11.275 per share. So the fact Stanton slighted Buffett on ($0.125) would set in motion a event in the future from this shaved Offer that has made The Oracle of Omaha the Legend he is!

Buffett Partnership Limited Responds

In light of the clear lowball that was sent in the form of a passive aggressive counter offer letter offering $11.275 from Seabury Stanton to BPL after the initial offer of $11.50 agreement to buy back shares. I think it would be understandable this lowball letter had a irritating affect on Mr. Buffett. It was understandable Mr. Buffett did not accept this situation. And felt the need to establish ownership of the situation. So he planned his next moves carefully in secret.

Buy up undervalued or falling value Class A Shares Quietly

Mr. Buffett amazingly began to buy shares quietly instead of selling his partnerships exposure. Warren began quietly buying the declining shares of Berkshire Hathaway’s equities in the market as the company began to drift downwards in price. Buying the Shares at a Discount is a savvy move by Partnerships wanting to buy their way onto Boards of Directors.

This classic action will force change through an Activist Investor Action. The act of buying large blocks of shares quietly and buying undervalued shares will allow a investor or Investment Group to acquire a seat at the Board of Directors Meeting and table. The question is? Exactly what was Mr. Buffett aiming for when he began buying shares of Berkshires Hathaways outstanding shares?

Mr. Buffett’s plan was to gain control of Berkshires Hathaway Board of Directors Seat. For the purpose of exacting change to the Executive management from the Board of Directors level. This was secretly Warren’s Goal.

Everyone was telling Mr. Buffett Buying Berkshire Hathaway would be a Mistake!

Even though quietly people were telling Warren Buffett that buying control of Berkshire Hathaway would be a mistake. The mentee of legendary Columbia Professor Ben Graham did exactly the contrarian option. And opted to begin buying a controlling stake in the failing Berkshire Hathaway Company. Warren Buffett officially took control of Berkshire Hathaway on May 10, 1965. And on the Day the news broke that Warren Buffett had obtained control of Berkshire Hathaway, the President of Berkshire Hathaway, Seaford Stanton who had recently slighted the up and coming maverick Investment Partner Warren Buffett, quietly tendered his resignation immediately following the news.

This is one of many legendary Investments that would cement Warren Buffett as a Man the many Public Company Chairmen should never trifle with again!

Dear Mr. Chairman By Jeff Gramm

Are you interested in Boardroom Battles and Challenges?

Please read Dear Mr. Chairman by Jeff Gramm. There is a time and place for Activist Investment Stories. This book is a good start. It’s also interesting to read about David Ellison’s recent action to obtain positioning for Skydance Paramounts acquisition offer for Warner Brothers HERE.

What happened after Warren Buffett took control of Berkshire Hathaway?

After taking control of the Board of Directors at 15 dollars per share? Mr. Buffett pivoted the business into insurance, creating a vast conglomerate. Under his leadership, the company achieved a historic compounding shareholder return, famously transforming into a trillion-dollar enterprise. Ultimately retiring stepping aside and appointing Greg Abel a long standing lieutenant assume the helm of CEO in 2026.

Corporate Governance You Be the Judge?

According to Google’s Gemini, the definition of Corporate governance is the system of rules, practices, and processes used to direct and control a company. It establishes a structure for balancing the interests of a company’s stakeholders—such as shareholders, management, employees, customers, and the community. So with this shared, the Corporate governance equation inside many Boards of Directors is a subject that deserves it’s own Political spectrum. Given the breadth and depth of this topic it’s to deep as a topic for todays post. However I do believe we all can agree when someone makes a commitment and fails to satisfy the Board of Directors Mission, Obligations and Marching orders? That it’s time to reconsider your effectiveness for the organizations benefit. Outside Removal by the Boards vote is always a threat to a Board members incumbency.

I do hope you enjoyed todays post as this post details some key facts about Mr. Warren Buffett’s beginnings inside Investing using a Partnership Structure and his mission to obtain a controlling interest in a Public Company that eventually became Mr. Buffetts Holding Company. However if you have read and followed and researched the history of Berkshire Hathaway like Christopher Bloomstran has and has become an expert on Berkshire? It’s highly likely we mutually agree the facts do align that Mr. Warren Buffett and his team at Berkshire Hathaway has touched nearly all of our lives in a positive way through his long horizon investing. Including Warren’s ambitious and righteous humbling mission of evicting Seabury Stanton from Berkshire’s Board of Directors during 1965.


JS

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Business Articles, Legal Documents

Seven Legal Documents To Start Your Corporation

If your starting a Corporation, or a Investment Firm you must ask this question; “What are the Documents needed to start your Investment Corporation.”

This post will detail breifly the seven Legal Documents a Entrepreneur needs to start a Corporation. I did not really have anyone to help me find legal Documents and what was needed. It was all a mystery. I like to write and learn about these Documents. And it made me a target for Bad Actors. Fact. But eventually I will find a way. And you will too.

The Truth about Networking Groups? Networking is a Waste of Time. Skip It! Community Events And Engagement Activities are better.

Each startup will take a different path through its business lifecycle. Once the startup decides to take on external capital, certain documents will be required to facilitate the funding process. A few of these key documents are outlined below.

A great website is the NVCA organization. Worth the time to read and check it out.

The NVCA has made available a library of document templates for entrepreneurs which can be accessed directly on their site by following this link: NVCA Model Legal Docs

  1. Articles of Incorporation,

Articles of incorporation are a set of formal documents filed with a government body to legally document the creation of a corporation. Articles of incorporation generally contain pertinent information such as the firm’s name, street address, agent for service of process, and the amount and type of stock to be issued.

2. Investment Teaser Deck,

The Teaser Deck is a concise and compelling snapshot of your startup, crafted to generate initial interest from potential investors. Think of it as the “elevator pitch” of pitch decks—brief but impactful.

3. Non-Disclosure Agreement,

The Purpose and Scope of Non-Disclosure AgreementsThese agreements are frequently used during negotiations, employment relationships, mergers and acquisitions, investor discussions, and joint ventures. The primary objective is to keep sensitive business data from becoming public or falling into competitors’ hands.

4. Offering Memorandum,

A key legal document used in the private placement of commercial real estate. The OM provides buyers with information about the property and the offering, protects the Sponsor from potential liability, and serves as a tool for winnowing down the pool of bidders.

5. Terms Sheet

Term sheets are often associated with startups. Entrepreneurs find this document crucial for investors like venture capitalists, who may offer funding. A term sheet may be part of a merger or attempted acquisition. Lenders and potential debt agreements may begin with a term sheet.

The term sheet covers the significant aspects of a deal without detailing every minor contingency covered by a binding contract. All term sheets contain information on the assets, price, and any contingencies that may affect the cost. Term sheets vary with the parties, conditions, and agreements. Term sheets commonly:1

6.Investors Rights Agreement

According to the Website National Venture Capital Association www.nvca.org,
An Investors’ Rights Agreement can cover many different subjects.  The most common are information rights, registration rights, contractual “rights of first offer” or “preemptive” rights (i.e., the right to purchase securities in subsequent equity financings conducted by the Company), and various post-closing covenants of the Company.

7. Stock Purchase Agreement

A place to read about Stock Purchase Agreements is on Google. Here is a great Stock Purchase Agreement I found on the Securities Exchange Commissions Website HERE.

What is a Stock Purchase Agreement?

A stock purchase agreement is a legally binding contract that governs the transfer of company ownership through the sale of shares. The agreement serves two primary functions: establishing the purchase price and creating a framework that protects both parties throughout the transaction. This is important legal document for you to master as a Entrepreneur. Examples.

Here is a Cool Fact I bet you did not know? The Lovely and Genius TV and MEDIA Homemaker Martha Stewart who made a career out of making homes more colorful and comfy was previously a Stock Broker. According to online media outlets, “Mrs.Stewart In 1967 began a second career as a stockbroker, her father-in-law’s profession. Meanwhile, Andrew Stewart founded a publishing house and served as chief executive of several others.” That’s really fascinating to me as a fellow writer. “I hope Mrs. Stewart knows I loved her content and ability to spruce up any Project. She is a special lady.” J.S.

Did you catch my latest Article on Corporate Secured and Unsecured Debt Securities?

Conclusion

I do imagine your finding yourself busy at the moment trying to put together these documents on your journey as a Entrepreneur, I do hope you found direction and out of the normal value in the Post I just provided you here to get you moving as a Entrepreneur who needs to put together 7 documents that help you establish your new Corporation. Take what you need from my content and do please check back soon. The legal documents list is growing.

Don’t let the Attention Clowns on Social Media Distract you Entrepreneurs

I do have to make a observation and it will be harsh! There are these guys on youtube traveling around bugging and ambushing Business leaders for advice, motivation and and free content for their Youtube and Social Media channels. To me? It’s counterintuitive to go out seeking attention only without a specific mission that is not in the same space. “If you do this? You look like a aimless child and Clown!” My mission is writing and sharing my journey as a Investment Professional IM all about my mission. Im Not seeking BullShit Fame and “Look AT ME Im important” Attention. My business is Ai, Tech and professional investing and capital raising in the TMT space. Not trying to be a youtube or online star. Im more technical in my abilities and mission. That’s the way I like to keep it. This content is Free for you guys. Who need it most. Thank you,

Jameson Sharp

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Arabic Language, Business Articles, History of Finance

How Arabic Shaped Modern Banking and Trade Practices

The year was 800 AD, Baghdad was the richest city on Earth. Not because of Oil . Not because of War. Because of One Word.

Arabs called it: Tijara = أهل مهنة (The Act of Buying and Selling and exchanging goods. One of the Most Fundamental world in Arabic and in Islam. They didn’t just sell things. They understood why people buy.

Qahwah equals Coffee in Arabic. قهوة

The Most Successful business deal in History was written in Arabic. Most people don’t know that. Neither did I, until I read the Story.

Arab Merchants didn’t just travel aimlessly. They were traveling remnants paths of the old Silk Road. Traveling and camping along the Silk Road from Spain to China Coast. Crossing Deserts and Oceans ON TRUST ALONE.

Before Contracts existed, they had a different system. They Called it: Amana (أمانة) translates to “trust,” “fidelity,” or “moral integrity”. Trust. Giving someone your wealth and trusting them to return it. No Paper. No Signature needed.
This is the first documented BANKING SYSTEM built on a single word in Arabic.

Europe had nothing like this. There system was documented in other books and stories. While Baghdad merchants were writing credit letters across continents, Europe was still trading in cattle. The language of Money was Arabic. Here is one word that cemented finance.

“Sakk” (صك) is an Arabic word meaning “certificate,” “deed,” or “legal instrument”. It is the root of the modern English word “check” and the plural of Sukuk—which are Shariah-compliant financial certificates that function similarly to bonds.

Every time you write a Checque, you are using Arabic. Here’s what school never taught you: The words “Tariff, “Magazine”, “cotton”, “Algebra”, “Alcohol” ALL ARABIC

The Modern World didn’t replace Arabic. It was built on top of it.

Arabs had a word for Ambition: Himma (هِمَّة) is an Arabic word meaning ambition, zeal, and intense resolve. It describes a deep, driving inner motivation—not just wishing for a goal, but putting your entire mind and effort into achieving it. The drive that refuses to settle. The inner fire that keeps you building, even when no one is watching.

Every driven person you admire carries Himma هِمَّة in them.

Today, the Arab World controls: $3trillion in Sovereign wealth. 22 countries. 420 Million People.

Almost every major deal in this region still starts with one sentence spoken in Arabic. FURSA هِمَّة = Opportunity. But with urgency. The Window that opens once and doesn’t wait for you.

Right now, Arabic is a Fursa. Most people haven’t noticed yet.

The World’s fastest-growing markets are in the Arab World. Dubai, Riyadh, Cairo, Doha.

The People Closing transactions there aren’t always the smartest in the room. They’re the ones who spoke first. In Arabic. They say Arabic is the language of trade, trust, and ambition.

I do hope you learned a few thing here in today’s post. It was different that what I am used to writing about. However? It’s absolutely Markets related. And deserved to be explored and shared. Arabic has a special place inside my personal life and future. Shukran. Inshallah! شكراً إن شاء الله

Jameson Sharp

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Business Articles, Series 79 Exam

The Series 79 Investment Banking Rep Exam?

So as I sat here outlining how to build the Application for Investment Banking Deal Flow? I asked What is the Job of Investment Banking?

According to Google Gemini the Description of a Investment Banker includes: “An investment banker is a financial professional who helps organizations, governments, and large institutions raise money and manage complex financial transactions. They act as strategic advisors, connecting entities that need capital with investors who can provide it”

Investment Banking Representative | Series 79 Exam

What are the Duties of a Investment Banker and what do you need to do to qualify as a Investment Banking Representative? You must pass a extensive difficult Licensing Qualification Exam.

An IB Analyst preparing for the Investment Banking Rep. will need to study and pass the Series 79 Qualifications Exam?

FINRA Describes the Exam As: “The Series 79 exam, or Investment Banking Representative Exam, is administered by FINRA and qualifies individuals to advise on or facilitate debt/equity offerings and M&A transactions. It consists of 75 scored multiple-choice questions with a 2.5-hour time limit. Candidates must pass the SIE exam first and secure firm sponsorship.” More here from FINRA

Did you catch my Investment Advisors Article Here?

The Career Path of the Investment Banking Associate?

The Pipeline: Top candidates typically secure junior or summer analyst roles during their undergraduate years, eventually converting these into full-time return offers.

The Analyst Stint (Years 1-3): You act as the backbone of the team. Daily tasks involve detailed financial valuation, building LBO/M&A models, and creating presentation slides for senior bankers.

The Exit Opportunities: After 2–3 years, top analysts transition into highly lucrative buy-side roles like Private Equity or Hedge Funds. Alternatively, some pursue an MBA, transition to Corporate Development, or climb the ladder to Associate.

Content you need to know to study for your Series 79 Investment Banker Representatives Exam?

  1. Analyzing capital structure, market trends, and valuation methodologies (e.g., DCF, comparable companies).
    Due diligence activities and SEC disclosure rules.
  2. Underwriting/New Financing Transactions, Types of Offerings, and Registration (approx. 29 questions):
  3. Preparing sales documents, deal structuring, and underwriting processes.
  4. Securities Act of 1933, registration statements, and exempt transactions.
  5. Mergers and Acquisitions (M&A), Tender Offers, and Financial Restructuring (approx. 27 questions):
  6. Sell-side processes, auction structures, bidding, and tender offers.
  7. Defensive tactics (e.g., poison pills), legal compliance, and corporate reorganizations.

Advising Institutions and Companies you will need to know KEY AREAS OF FOCUS

Capital Raising: Helping companies issue stocks (like an IPO) or bonds to fund expansion, pay off debt, or launch new projects.
Mergers & Acquisitions (M&A): Advising corporations on buying, selling, or merging with other companies. This involves valuing the business, structuring the deal, and ensuring regulatory compliance

What are the Duties of a Investment Banker Representative or Analyst?

Generally, the role of an analyst is to perform the bulk of the analytic work needed to facilitate these corporate transactions, and this typically involves a lot of work with presentations and models.
Website StreetofWalls.com States;

  • Presentations, or Pitch Books, are simply marketing material for the bankers to present to their corporate clients. These PowerPoint presentations get printed and are bound for meetings with clients/companies. Pitch Books will generally be 30-40 pages in length, though in some cases can be substantially longer; they will show the bank’s qualifications, recent industry data, sample transaction and analysis information, and advisory recommendations.
  • The analytical work consists of building and perfecting financial models for any given corporate situation. We will get into this in further detail later, but this work will typically include Discounted Cash Flow (DCF) analysis, Comparable Companies and Comparable Transactions (Comps), M&A models, and/or LBO models.
  • Analysts will spent substantial time repeatedly building and evaluating different financial alternatives for the client. One example might be running M&A models and showing the accretion/dilution effects to earnings based on different allocation scenarios for debt and equity in the proposed transaction.

The Series 79 is great exam to prepare for the quality as a Investment Banking Representative Exam. However? The Series 7 is also a Securities Exam and many Advisors will allow you to take the Series 7 in place of the 79. This exam allows you to Sell Securities in the Market. Dean Tinney and Brian Lee trained me in the arts of Studying for my Investment Advisors Representatives Exam Successfully. They were fantastic. Check them Out Here! Brian Lee, Dean Tinney, and even Wallstreet Oasis.

I do hope you found this informative and informationally rich about the Series 79 Investment Banking Representatives Exam. I will continue to expand on the Series 79 exam. Then I will expand on Investment Banking more in depth in the future. This was only a brief post on the details of Investment Banking Career Path and the Exam you must pass in order to move forward.

Until Next Time? I wish you well

Thank you
Jameson Sharp

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AI Applications, Applications, Business Articles

AI-Driven Application for U.S. Government Grants

This Blog is all about Money and Capital Markets and Finance and More.

If you are searching for United States Government Grants and your a Tech Entrepreneur? I built a Application that is AI Powered to help you secure Grants and Find Grants.

It’s Free to use.
Thank you.

https://govgrants.base44.app

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Business Articles, Family Office App Suite, Family Offices

Family Office Desk | Application Suite

Family Office Desk | A Investment Family Office Management Suite

COMING SOON | A SNEAK PEAK TO THIS PROTOTYPE APPLICATION SUITE

FOR PREORDERS CONTACT ME HERE

Stay Tuned. More to come.


To Have a Investment Conversation Into Gravity Applications?
Contact page. Thank You.

JS

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AI Applications, Business Articles, FinTech, SaaS

Gravity AI Applications and Investments

Gravity Applications is a newly formed investment and Applications Development Company.

My latest Investment is Gravity Applications Company. We are continuing to develop, and acquire useful AI powered Media and Educational companies that add strategic value to the Tech Space. Developing specialty Applications is a arm of Gravity. Like anything?

The Value of Planting Seeds in Rich Soil as SaaS Devs and Entrepreneurs?

Investments and Development Projects never sprout over night. It takes time and patience to see a Company’s growth compound and blossom like a flower. The growth of Organic business is a-lot like planting seed’s in the earth. It takes care, sunlight, water, nutrient dense soil to see your Investment Sprout with fruits that welcome growth. Gardening always does teach patience and it also teach’s you when the soil you were planting seeds into is just sand and needs to be relocated. Choose rich nutrient dense Soils for your Company’s Investments. So I built Ai Flower Lens, This is a Ai Powered App that Identifies Flowers using the camera on your Smartphone. Try it Here!

CFP Exam Study Aid & Question Bank

Introducing our Newest FinTech Application that uses AI to help educate and prepare Certified Financial Professionals in College or University Financial Programs for the difficult CFP Exam. CFP Mastery.

CFPQuestions.com

The List of our Developed Applications is Growing. Some are free, some are paid. Afterall this is a Business. If you believe we can improve and develop better content for the Applications? Please reach out on our Contact page. Thank you. Feedback always welcome.

Our next app that we have published is Non Profit Trust Guard.

The Mission of Non Profit Trust Guard is?

AI-powered analysis to help donors make informed giving decisions. Evaluate any non-profit that collects money online. Evaluate an Organization.

Non Profit Trust Guard

AI-powered analysis to help donors make informed giving decisions. Evaluate any non-profit that collects money online.Evaluate an Organization

https://non-profit-trustgaurd.base44.app

Thank you for visiting me. We are in Builder mode. Sharp Holdings is developing and investing into lateral Technology spaces.

Unable to pay the fee’s on the CFP applicaton and you are in a CFP Financial Program in a United States or Canadian University or College? Contact us for a Grant for our Software for personal education use. Contact here, Share your Name, College Financial Program your enrolled in. We will get back with you asap.

Thank you

JS

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AI Applications, Due Dilligence Tools, Family Office

Non Profit Trust Score App “TRUST GUARD”

AI-powered analysis to help donors make informed giving decisions. Evaluate any non-profit that collects money online.

What could I do and use my Programming Skills to build something that helps Donors, Investigators, Journalists, Accountants, Attorneys, Investment Professionals, and Even Everyday Professionals with helping to Eliminate Non Profits that seem Questionable? I would like to introduce to you one of my AI Powered Applications I built that does exactly what it says! This Application Uses AI to help Donors make Informed Giving Decisions!

“TRUST GUARD APPLICATION”

Why did I Develop this Application?

Easy, To Help Every Day People Make Informed Decisions so that the Donation you give to a Non Profit doesn’t end up in Criminal Hands.

This Application is still a prototype. However it will be available soon in the Apple App Store, Google App Store and a separate Website. I have made it available for use for State and Federal Investigators, Investment & TAX Professionals, and everyday People who need an extra layer of AI to do some Due Diligence on that Non Profit who is soliciting Donations from you.

This app is great for Investigative Journalists, State and Federal Law Enforcement, Tax and Investing Professionals who are searching for Certainty before making a donation recommendation to your clients. Or Attorneys who are skeptical about a Non Profits legitimacy online. This app is being improved weekly. Please feel free to suggest improvements. We are making this app free for everyone!

To Use this application; Link Here TRUST GUARD APPLICATION . Then plug in the Correct Information into the short section on the Desktop or Browser App interface and allow the AI to work and bring you results and a Score about the Non-Profit you are asking about.

Did you catch my Article about Trusts? HERE.

GEORGE CLOONEY’S FOUNDATION FOR JUSTICE (EXAMPLE) of Score of Trust worthiness for Donors

Please Feel Free To Use the Application Now. And Check Back in the Future. As I continue to develop and make changes to these Applications that help Donors who want to give to Non Profits and Foundations and require an extra layer of Diligence using AI.

Thank you until Next Time?
Jameson Sharp

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Securities Exchange Commission

Section 6(b) Filing Fee Rate Advisory for Fiscal Year 2026

Fee Rate for Advisories | Not a Article | Strictly For Investment Bankers and Advisors of Institutions

Section 6(b) Filing Fee Rate Advisory for Fiscal Year 2026

Aug. 25, 2025 — The Securities and Exchange Commission today announced that the fees that public companies and other issuers pay to register their securities with the Commission will decrease from $153.10 per million dollars to $138.10 per million dollars, effective October 1. The new fee rate will be applicable to the registration of securities under Section 6(b) of the Securities Act of 1933, the repurchase of securities under Section 13(e) of the Securities Exchange Act of 1934, and proxy solicitations and specified tender offers under Section 14(g) of the Securities Exchange Act of 1934.

The securities laws require the Commission to make annual adjustments to the rates for fees paid under Section 6(b) of the Securities Act of 1933, which also adjusts the annual fee rates under Sections 13(e) and 14(g) of the Securities Exchange Act of 1934 as well as Rule 24f-2 under the Investment Company Act of 1940. The Commission must set rates for the fees paid under Section 6(b) to levels that the Commission projects will generate collections equal to annual statutory target amounts. The Commission’s projections are calculated using a methodology developed in consultation with the Congressional Budget Office and the Office of Management and Budget. The Commission determined the statutory target amount for fiscal year 2026 to be $887,800,554 by adjusting the fiscal year 2025 target collection amount of $864,721,147 for the rate of inflation.

The Commission will issue further notices as appropriate to keep the public informed of developments relating to fees.

Shortened: The current fee rate for 10/1/2025 to 9/30/2026 is:

$138.10 per $1,000,000

The fee is calculated by multiplying the aggregate offering amount by 0.00013810

Filing fees are required for filings made pursuant to:

  • Sections 6(b) of the Securities Act of 1933
  • Sections 13(e) and 14(g) of the Securities Exchange Act of 1934

For more information, see the fee rate advisory notice.

Effective October 1, 2025

Last Reviewed or Updated: Aug. 25, 2025

For Full SEC Section 6(b) Filling Fee LINK

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