MIDCAP LTD is a M&A Broker and licensed Illinois Business Broker. MIDCAP LTD is not a registered broker-dealer. MIDCAP LTD complies with the Illinois section 130.830 registration exemption for merger and acquisition brokers pursuant to section 4(i) of the Illinois Securities Law of 1953 and complies with The Consolidated Appropriations Act, 2023 (H.R. 2617) [see pp. 1080-1084] amending the Securities Act of 1934 which creates a statutory exemption from Federal broker/dealer registration for certain “M&A Brokers.” And has complied with the guidance in the SEC Staff No-Action Letter from Chief Counsel David Blass dated February 4, 2014 regarding M&A Brokers facilitating M&A Transactions with relief from registration as a Broker-Dealer.

Alan C. Brown and MIDCAP LTD comply with the proposed exemption from broker dealer registration for Tier II finders assisting small businesses with capital raising issued for comment by the SEC on October 7, 2020, including the disclosure requirements to investors and written acknowledgment of receipt of required disclosures prior to investment.