Legal
Fee schedule
All fees payable to Pennytree and all third-party costs that apply to an offer are disclosed here and in each offering document.
No fee schedule has been approved for live subscriptions. No funds are accepted or fees collected while the platform is not live.
Schedule
| Item | Amount | When payable |
|---|---|---|
| Application and due diligence fee (fundraiser) | Not yet approved | On submission of a complete application. Non-refundable. |
| Success fee on funds raised (fundraiser) | Not yet approved | Deducted at release, only where the offer closes successfully. |
| Custodian and trust account charges | Not yet approved; included in total issue-fee review | Charged by the independent custodian, disclosed in the offering document. |
| Payment processing | Not yet approved; included in total issue-fee review | Charged by the payment service provider on each subscription. |
| Investor account and subscription fee | Subscription fees not yet approved | No subscriptions or funds are accepted before launch. |
| Ongoing reporting support (fundraiser) | Not yet approved | Annual, for as long as the instrument is outstanding. |
SEC fee ceiling
Under Schedule 2 of the uploaded SEC rules, total fees payable to all parties to a crowdfunding issue must not exceed 5% of total funds raised. This is an aggregate ceiling, not a separate allowance for each party. All applicable third-party costs must be reviewed and disclosed before an offer opens.
The intermediary's fee payable to the Commission is 5% of its annual turnover under Schedule 2. This is a separate regulatory obligation, not an additional investor fee.