IPOGrid
0001544190
IPO filing research
Shepherd's Finance, LLC
Short-Term Business Credit Institutions
follow-on
priced
EFFECT
Shepherd's Finance, LLC IPO research page with SEC filing history, offering status, deal terms, structured filing extracts, company news, and comparable IPO context. Latest filing: EFFECT on 2026-04-30.
Filing Timeline
SEC EDGAR
EFFECT
effective
SEC effectiveness notice
SEC declared the registration statement effective, allowing the offering to proceed.
Follows S-1 and marks the registration effective.
2026-04-30 · 9999999995-26-001398
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
First tracked pre-IPO filing for this issuer.
Price $70,000,000 · 70,000,000 shares · Gross proceeds $70,000,000
Fixed Rate Subordinated Notes · Use of proceeds General corporate purposes
2026-04-30 · 0001493152-26-020593
S-1/A
amended
Amended registration statement
Updated registration statement filed after SEC comments or deal changes.
Updates the prior 424B3 filing.
Gross proceeds $70,000,000
Fixed Rate Subordinated Notes · Use of proceeds Proceeds will be used for general corporate purposes. · Flags self_underwritten · Underwriters self-underwritten
2026-04-20 · 0001493152-26-018076
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows S-1 and confirms the priced prospectus.
Fixed Rate Subordinated Notes · Use of proceeds Proceeds from note sales
2025-11-21 · 0001493152-25-024569
S-1
filed
Initial registration statement
Initial public filing submitted to start the SEC review process.
Follows 424B3 in the pre-IPO sequence.
Gross proceeds $70,000,000
Fixed Rate Subordinated Notes · Flags self_underwritten · Underwriters self-underwritten
2025-09-15 · 0001493152-25-013446
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
2025-08-26 · 0001493152-25-012332
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes (Notes) · Use of proceeds to fund future development and establish an interest escrow account
2025-08-19 · 0001493152-25-012156
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Gross proceeds $26,940,000
Fixed Rate Subordinated Notes · Flags units
2025-06-13 · 0001641172-25-015133
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated fixed rate notes with varying maturities and interest rates
2025-06-10 · 0001641172-25-014535
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Gross proceeds $26,810,000
Fixed Rate Subordinated Notes · Use of proceeds General corporate purposes
2025-05-21 · 0001641172-25-011883
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows EFFECT and confirms the priced prospectus.
Subordinated Fixed Rate Notes
2025-05-07 · 0001641172-25-009003
EFFECT
effective
SEC effectiveness notice
SEC declared the registration statement effective, allowing the offering to proceed.
Follows 424B3 and marks the registration effective.
2025-05-06 · 9999999995-25-001429
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Price $70,000,000 · Gross proceeds $70,000,000
Fixed Rate Subordinated Notes · Flags self_underwritten
2025-05-06 · 0001641172-25-008781
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes
2025-04-03 · 0001641172-25-002616
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes with varying maturity terms and interest rates
2024-11-27 · 0001493152-24-048030
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes · Use of proceeds Acquisition of 339 Justabout Land Co. LLC and general corporate purposes
2024-11-22 · 0001493152-24-047438
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated notes issued by Shepherd's Finance, LLC
2024-08-23 · 0001493152-24-033668
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes · Use of proceeds Acquisitions and working capital
2024-05-30 · 0001493152-24-021929
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows EFFECT and confirms the priced prospectus.
Subordinated Fixed Rate Notes
2024-04-18 · 0001493152-24-015164
EFFECT
effective
SEC effectiveness notice
SEC declared the registration statement effective, allowing the offering to proceed.
Follows 424B3 and marks the registration effective.
2024-04-15 · 9999999995-24-000970
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Price $70,000,000 · Gross proceeds $70,000,000
Fixed Rate Subordinated Notes (Notes) · Use of proceeds General corporate purposes · Flags self_underwritten · Underwriters self-underwritten
2024-04-15 · 0001493152-24-014639
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Price $16,410,000 · Gross proceeds $16,410,000
Fixed Rate Subordinated Notes · Use of proceeds Acquisition of 339 Justabout Land Co., LLC
2024-03-26 · 0001493152-24-011267
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
2023-12-12 · 0001493152-23-044497
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes
2023-12-12 · 0001493152-23-044495
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes · Use of proceeds General corporate purposes
2023-11-21 · 0001493152-23-042220
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes · Use of proceeds Debt repayment, working capital, and acquisitions
2023-08-17 · 0001493152-23-029299
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated debt securities
2023-05-18 · 0001493152-23-018051
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows EFFECT and confirms the priced prospectus.
Subordinated Fixed Rate Notes
2023-05-01 · 0001493152-23-014902
EFFECT
effective
SEC effectiveness notice
SEC declared the registration statement effective, allowing the offering to proceed.
Follows 424B3 and marks the registration effective.
2023-04-26 · 9999999995-23-001053
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Price $70,000,000 · Gross proceeds $70,000,000
Fixed Rate Subordinated Notes ("Notes") · Flags self_underwritten
2023-04-26 · 0001493152-23-013676
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
0 shares
Fixed Rate Subordinated Notes
2023-03-22 · 0001493152-23-008529
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
2023-03-06 · 0001493152-23-006809
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
2022-11-21 · 0001493152-22-033127
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes
2022-11-15 · 0001493152-22-032409
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
2022-10-11 · 0001493152-22-028147
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows EFFECT and confirms the priced prospectus.
Debt instruments with fixed interest rates and specified maturities
2022-09-21 · 0001493152-22-026477
EFFECT
effective
SEC effectiveness notice
SEC declared the registration statement effective, allowing the offering to proceed.
Follows 424B3 and marks the registration effective.
2022-09-16 · 9999999995-22-002727
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows S-1/A and confirms the priced prospectus.
Price $100.00 · 70,000,000 shares · Gross proceeds $70,000,000
Fixed Rate Subordinated Notes · Flags self_underwritten
2022-09-16 · 0001493152-22-026106
S-1/A
amended
Amended registration statement
Updated registration statement filed after SEC comments or deal changes.
Updates the prior 424B3 filing.
2022-09-12 · 0001493152-22-025636
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes
2022-08-18 · 0001493152-22-023430
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
2022-07-18 · 0001493152-22-019668
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
2022-06-08 · 0001493152-22-016174
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows EFFECT and confirms the priced prospectus.
Gross proceeds $32,990,000
Fixed Rate Subordinated Notes
2022-05-19 · 0001493152-22-014467
EFFECT
effective
SEC effectiveness notice
SEC declared the registration statement effective, allowing the offering to proceed.
Follows 424B3 and marks the registration effective.
2022-04-22 · 9999999995-22-001052
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows S-1 and confirms the priced prospectus.
Price $70,000,000 · 70,000,000 shares · Gross proceeds $70,000,000
Fixed Rate Subordinated Notes · Flags self_underwritten · Underwriters self_underwritten
2022-04-22 · 0001493152-22-010739
S-1
filed
Initial registration statement
Initial public filing submitted to start the SEC review process.
Follows 424B3 in the pre-IPO sequence.
2022-03-22 · 0001493152-22-007443
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
70,000,000 shares · Gross proceeds $70,000,000
Subordinated notes issued by Shepherd's Finance, LLC · Use of proceeds General corporate purposes
2022-03-17 · 0001493152-22-007121
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes · Use of proceeds Proceeds from the offering will be used for general corporate purposes.
2021-11-18 · 0001493152-21-029207
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows EFFECT and confirms the priced prospectus.
Fixed Rate Subordinated Notes
2021-08-11 · 0001493152-21-019382
EFFECT
effective
SEC effectiveness notice
SEC declared the registration statement effective, allowing the offering to proceed.
Follows 424B3 and marks the registration effective.
2021-07-27 · 9999999995-21-002922
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
2021-07-21 · 0001493152-21-017420
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows EFFECT and confirms the priced prospectus.
Gross proceeds $22,400,000
Fixed Rate Subordinated Notes
2021-05-13 · 0001493152-21-011164
EFFECT
effective
SEC effectiveness notice
SEC declared the registration statement effective, allowing the offering to proceed.
Follows 424B3 and marks the registration effective.
2021-04-28 · 9999999995-21-001591
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Price $100.00 · Gross proceeds $70,000,000
Fixed Rate Subordinated Notes · Use of proceeds general corporate purposes · Flags self_underwritten
2021-04-28 · 0001493152-21-009921
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Notes
2021-03-19 · 0001493152-21-006393
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Gross proceeds $16,300,000
Fixed Rate Subordinated Notes · Fixed Rate Subordinated Notes
2020-11-13 · 0001493152-20-021290
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes · Use of proceeds Proceeds to be used for general corporate purposes
2020-08-14 · 0001493152-20-015919
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
2020-06-04 · 0001493152-20-010539
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes · Use of proceeds To repay debt incurred under the Paycheck Protection Program
2020-05-20 · 0001493152-20-009552
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows EFFECT and confirms the priced prospectus.
Fixed Rate Subordinated Notes
2020-05-04 · 0001493152-20-007631
EFFECT
effective
SEC effectiveness notice
SEC declared the registration statement effective, allowing the offering to proceed.
Follows 424B3 and marks the registration effective.
2020-04-22 · 9999999995-20-000823
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Price $70,000,000 · Gross proceeds $70,000,000
Fixed Rate Subordinated Notes · Use of proceeds General corporate purposes · Flags self_underwritten
Shepherd's Finance, LLC is offering up to $70 million in Fixed Rate Subordinated Notes with maturities ranging from 12 to 48 months and interest rates between 5% and 10%. The notes are unsecured, subordinated to senior debt, and sold directly without underwriters. No public trading market exists, and redemption terms allow for early repayment with penalties. The offering includes updated risk factors, including pandemic-related risks and reliance on a single developer.
2020-04-22 · 0001493152-20-006931
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes · Use of proceeds Proceeds used for originating and funding homebuilding loans
Shepherd's Finance, LLC's April 7, 2020, 424B3 filing updates the prospectus with revised offering status, risk factors addressing COVID-19 impacts, Management's Discussion and Analysis (MD&A) for 2019, operating agreement amendments, and audited financial statements through 2019. The offering remains active until March 2021, with $11.8M issued and $58.2M remaining. Risk disclosures now emphasize pandemic-related vulnerabilities, liquidity constraints, and debt structure risks.
2020-04-07 · 0001493152-20-005972
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
The current 424B3 filing for Shepherd's Finance, LLC updates the interest rates and yields for Subordinated Fixed Rate Notes, superseding the previous February 5, 2020, rate supplement. The document outlines annual interest rates, annual effective yields, and effective yields to maturity for note durations of 12, 24, 36, and 48 months, with specific terms for compounding interest and payment structures. The filing emphasizes that rates are fixed once invested and not subject to change after purchase.
2020-03-13 · 0001493152-20-003892
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows EFFECT and confirms the priced prospectus.
Shepherd's Finance, LLC issued a 424B3 filing on February 5, 2020, supplementing its April 18, 2019 prospectus for subordinated fixed-rate notes. The filing outlines updated interest rates for 12-, 24-, 36-, and 48-month maturity periods, with corresponding effective yields. It clarifies terms for interest payment options (monthly or at maturity) and compounding mechanics. The document supersedes a prior October 15, 2019 rate supplement and emphasizes that selected rates are fixed once invested.
2020-02-05 · 0001493152-20-001663
EFFECT
effective
SEC effectiveness notice
SEC declared the registration statement effective, allowing the offering to proceed.
Follows 424B3 and marks the registration effective.
Shepherd's Finance, LLC's Notice of Effectiveness confirms the status of its second follow-on offering of Fixed Rate Subordinated Notes, updating interest rates, redemption options, and risk factors. The filing includes unaudited financial statements for the three and nine months ended September 30, 2019, and amends the indenture to add redemption provisions for 36-month notes. The offering remains active until March 2021, with $61.5 million in notes still available for sale.
2020-02-04 · 9999999995-20-000231
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes
This 424B3 filing supplements Shepherd's Finance, LLC's prospectus, updating details about its ongoing note offering, interest rates, redemption options, and risk factors. It includes revised financial data for the three and nine months ended September 30, 2019, and amendments to the indenture governing its notes. Key updates include new redemption terms for 36-month notes, revised risk disclosures, and changes to executive compensation and leadership.
2020-02-04 · 0001493152-20-001571
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Gross proceeds $6,940,000
Fixed Rate Subordinated Notes
Shepherd's Finance, LLC's 424B3 filing updates the status of its Fixed Rate Subordinated Notes offering, includes revised Management's Discussion and Analysis (MD&A) of financial condition and results of operations for the three and nine months ended September 30, 2019, and provides unaudited condensed consolidated financial statements. The offering, initiated in March 2019, had issued $6.94 million of Notes, with $63.06 million remaining available for sale. The filing highlights changes in loan loss provisions, gains/losses from foreclosed assets, and operational performance metrics.
2019-11-21 · 0001493152-19-018192
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes with varying maturity terms
Shepherd's Finance, LLC issued a rate supplement for its subordinated fixed-rate notes, updating interest rates for various maturities compared to a previous supplement. The document outlines annual interest rates, annual effective yields, and effective yields to maturity for terms ranging from 12 to 48 months. It emphasizes that rates are fixed once invested and clarifies payment terms, including compounding interest. The supplement supersedes an earlier August 2019 rate supplement and references the prospectus dated April 18, 2019.
2019-10-15 · 0001493152-19-015538
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
Shepherd's Finance, LLC issued a rate supplement for its subordinated fixed-rate notes, updating interest rates for maturities ranging from 12 to 48 months. The supplement clarifies that selected rates are fixed for the note term, with interest paid monthly or at maturity, including compounding effects. It supersedes a prior rate supplement from June 2019 and emphasizes that rates remain in effect until a later update. The filing references the prospectus for risk factors and notes the lack of FDIC insurance or guarantees.
2019-08-28 · 0001493152-19-013456
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes
Shepherd's Finance, LLC updates its IPO filing with revised financial data for the three and six months ended June 30, 2019, including a net income decline due to increased loan losses and impairment. The filing notes the resignation of CFO Mark Lamensdorf and appointment of Catherine Loftin as acting CFO. The company reports $4.78M in notes issued under its current offering, with $65.22M remaining. Previous offerings are summarized, including termination of the first follow-on offering in March 2019.
2019-08-26 · 0001493152-19-013395
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
The current 424B3 filing serves as a rate supplement for Shepherd's Finance, LLC's subordinated fixed-rate notes, detailing updated interest rates and yield calculations. It emphasizes that selected interest rates are fixed for the note's term, with compounding effects on unpaid interest. The document reaffirms that the offering is governed by the March 2019 prospectus and highlights risks associated with unsecured, uninsured notes.
2019-06-21 · 0001493152-19-009556
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Debt securities
This supplement updates the April 2019 prospectus for Shepherd's Finance, LLC's follow-on offering of Fixed Rate Subordinated Notes. It includes revised offering status, executive changes, updated financial results for Q1 2019, and unaudited financial statements. The offering remains active with $68.48M available for sale, and a new CFO has been appointed.
2019-05-15 · 0001493152-19-007353
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows EFFECT and confirms the priced prospectus.
Gross proceeds $70,000,000
Fixed Rate Subordinated Notes · Use of proceeds general corporate purposes · Flags self_underwritten · Underwriters self-underwritten
Shepherd's Finance, LLC is offering up to $70 million in fixed-rate subordinated notes on a continuous basis, with maturities ranging from 12 to 48 months and interest rates between 9% and 11%. The notes are unsecured, subordinated to senior debt, and lack a public trading market. The company may redeem notes early, and investors face risks including lack of FDIC insurance, reliance on a single developer, and industry-specific downturns.
2019-04-19 · 0001493152-19-005661
EFFECT
effective
SEC effectiveness notice
SEC declared the registration statement effective, allowing the offering to proceed.
Follows 424B3 and marks the registration effective.
Shepherd's Finance, LLC announces the effectiveness of its follow-on offering of Fixed Rate Subordinated Notes, updating the prospectus with 2018 financial data, audited consolidated financial statements, and offering status. The Current Offering, launched March 22, 2019, has $70 million in Notes available for sale, with a two-year term unless extended. Previous offerings include an initial public offering (terminated in 2015) and a first follow-on offering (terminated in 2019).
2019-04-18 · 9999999995-19-000754
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes · Use of proceeds To operate the business, fund loan growth, and support diversification
Shepherd's Finance, LLC's 424B3 filing supplements its March 22, 2019 prospectus with updates on the status of its Fixed Rate Subordinated Notes offering, Management's Discussion and Analysis (MD&A) incorporating 2018 financial data, and audited consolidated financial statements for 2018 and 2017. The offering remains active until March 2021, with $70 million in Notes available for sale. The company highlights risks related to loan collateral values, geographic concentration, and liquidity constraints.
2019-03-25 · 0001493152-19-003881
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows EFFECT and confirms the priced prospectus.
Price $70,000,000 · Gross proceeds $70,000,000
Fixed Rate Subordinated Notes · Flags self_underwritten · Underwriters self-underwritten
Shepherd's Finance, LLC is offering up to $70 million in fixed-rate subordinated notes on a continuous basis, with maturities ranging from 12 to 48 months and interest rates between 9% and 11%. The notes are unsecured, subordinated to senior debt, and lack a public trading market. The company emphasizes that investments are risky, speculative, and suitable only for long-term, high-net-worth investors. No underwriters are involved, and proceeds are used immediately upon purchase.
2019-03-25 · 0001493152-19-003797
EFFECT
effective
SEC effectiveness notice
SEC declared the registration statement effective, allowing the offering to proceed.
Follows S-1/A and marks the registration effective.
Shepherd's Finance, LLC filed a Notice of Effectiveness for its S-1 registration statement, registering $70 million in fixed-rate subordinated notes. The registration includes $40 million of unsold securities carried forward from a prior registration, reducing the filing fee from $8,715 to $3,735. The company plans to offer these securities following the effective date, with legal, accounting, and other expenses estimated at $412,485. The filing also includes an amendment to add Exhibit 5.1 without modifying the prospectus.
2019-03-22 · 9999999995-19-000495
S-1/A
amended
Amended registration statement
Updated registration statement filed after SEC comments or deal changes.
Updates the prior 424B3 filing.
Gross proceeds $70,000,000
Fixed Rate Subordinated Notes
Shepherd's Finance, LLC filed an S-1/A amendment to register $70 million in fixed-rate subordinated notes, incorporating $40 million in unsold securities from a prior registration. The filing updates interest rate terms for the notes, including annual rates ranging from 9% to 11% with effective yields up to 54.96% over 48 months. It also clarifies registration fees, indemnification provisions, and recent unregistered securities issuances. The amendment supersedes a prior rate supplement (424B3) and outlines terms for monthly or compounded interest payments.
2019-03-22 · 0001493152-19-003735
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows S-1/A and confirms the priced prospectus.
Subordinated fixed rate notes with specified interest rates and yield calculations
Shepherd's Finance, LLC's 424B3 filing supplements the April 30, 2018 prospectus for subordinated fixed-rate notes, updating interest rates and terms. The filing establishes fixed annual interest rates (9.00%-11.00%) and effective yields for maturities ranging from 12 to 48 months. It emphasizes that rates are locked in at purchase, with interest compounded monthly unless elected otherwise. The notes remain unsecured, subordinated obligations not insured by FDIC or any government entity.
2019-03-07 · 0001493152-19-002969
S-1/A
amended
Amended registration statement
Updated registration statement filed after SEC comments or deal changes.
Updates the prior 424B3 filing.
Price $70,000,000 · 70,000,000 shares
Fixed Rate Subordinated Notes · Use of proceeds general unsecured obligations · Underwriters self-underwritten
Shepherd's Finance, LLC is offering up to $70 million in aggregate principal amount of Fixed Rate Subordinated Notes on a continuous basis. The notes are unsecured, subordinated to senior debt, and carry significant risks including lack of insurance, no public market, and reliance on a single developer. The current S-1/A amendment includes $40 million of unsold securities from a prior registration, reducing filing fees. The notes mature in 1-4 years with interest rates ranging from 8% to 11%, and include redemption penalties. The company has no underwriters, and proceeds are used immediately upon investment.
2019-03-04 · 0001493152-19-002840
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
The current 424B3 filing serves as a rate supplement for Shepherd's Finance, LLC's Subordinated Fixed Rate Notes, detailing annual interest rates and effective yields for maturities ranging from 12 to 48 months. It confirms that selected rates are fixed once invested and supersedes a prior rate supplement dated January 2, 2019. The filing emphasizes that the notes are unsecured, uninsured, and subject to the risks outlined in the prospectus.
2019-02-19 · 0001493152-19-002226
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Gross proceeds $24,500,000
Fixed Rate Subordinated Notes
Shepherd's Finance, LLC's February 14, 2019 424B3 filing updates stakeholders on its Follow-on Offering of Fixed Rate Subordinated Notes, extending the offering period to March 28, 2019. The filing also discloses a debt modification agreement with Paul Swanson, extending the maturity of a promissory note to March 31, 2019, and a change in independent registered public accounting firms from Carr, Riggs & Ingram, LLC (CRI) to Warren Averett CPAs and Advisors, effective January 10, 2019.
2019-02-14 · 0001493152-19-002023
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
This 424B3 filing serves as a rate supplement for Shepherd's Finance, LLC's Subordinated Fixed Rate Notes, updating interest rates and yield calculations compared to the previous November 2018 supplement. It confirms fixed rates once selected, outlines compounding mechanics, and reiterates that notes are not FDIC-insured or guaranteed.
2019-01-02 · 0001493152-19-000024
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
The current 424B3 filing by Shepherd's Finance, LLC provides updated interest rate terms for Subordinated Fixed Rate Notes, detailing annual interest rates, effective yields, and compounding mechanisms for various maturity periods (12 to 48 months). It clarifies that rates are fixed once selected and supersedes a prior rate supplement from June 2018. The filing emphasizes that notes are not FDIC-insured or guaranteed, and investors should review risk factors in the prospectus.
2018-11-16 · 0001493152-18-016349
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows S-1/A and confirms the priced prospectus.
Fixed Rate Subordinated Notes
Shepherd's Finance, LLC's 424B3 filing updates the prospectus for its follow-on offering of Fixed Rate Subordinated Notes, extending the offering period to March 2019. It includes unaudited financial statements for Q3 2018 and the first nine months of 2018, showing decreased net income due to lower interest income and higher SG&A expenses. The company reported increased loan originations and employee growth, with $23.9 million in Notes issued and $46.1 million remaining available for sale.
2018-11-09 · 0001493152-18-015574
S-1/A
amended
Amended registration statement
Updated registration statement filed after SEC comments or deal changes.
Updates the prior 424B3 filing.
Price $70,000,000 · 70,000,000 shares · Gross proceeds $70,000,000
Fixed Rate Subordinated Notes · Use of proceeds General corporate purposes · Flags self_underwritten · Underwriters self-underwritten
Shepherd's Finance, LLC is offering up to $70 million in aggregate principal amount of Fixed Rate Subordinated Notes on a continuous basis. The notes are unsecured, subordinated to senior debt, and not insured or guaranteed by the FDIC or any third party. The offering includes $40 million of unsold securities from a prior registration, reducing current filing fees. The company emphasizes risks including lack of liquidity, reliance on a single developer, credit risk of loans, and potential for default. The notes are marketed directly without underwriters, with no public trading market.
2018-09-18 · 0001493152-18-013422
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Gross proceeds $20,400,000
Fixed Rate Subordinated Notes · Underwriters self-underwritten
Shepherd's Finance, LLC extended the expiration date of its follow-on offering of Fixed Rate Subordinated Notes to March 28, 2019, citing SEC rule compliance. As of August 22, 2018, $20.4 million in Notes had been issued, with $49.6 million remaining available. The offering may continue until the earlier of 180 days after the third anniversary of the follow-on offering or the effective date of a second follow-on offering (SEC Registration No. 333-224557). The company retains the right to terminate the offering at any time.
2018-08-28 · 0001493152-18-012633
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Gross proceeds $20,000,000
Fixed Rate Subordinated Notes
Shepherd's Finance, LLC's August 10, 2018 424B3 filing updates the status of its follow-on offering of Fixed Rate Subordinated Notes, which remains active until September 2018. The filing includes revised financial statements for the six months ended June 30, 2018, updates on Series C Preferred Units (including redemption and reissuance to the CEO), and amendments to debt agreements. Key financial highlights include increased loan originations, a net income of $204K for Q2 2018, and updated risk disclosures related to real estate collateral values and foreclosed assets.
2018-08-10 · 0001493152-18-011352
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
Shepherd's Finance, LLC issued a rate supplement for its subordinated fixed-rate notes, updating interest rates effective June 7, 2018. The filing replaces a prior supplement from May 24, 2018, and provides a table of annual interest rates, effective yields, and maturity yields for note terms ranging from 12 to 48 months. Investors must select a term at purchase, with rates locked in for the note's duration. The supplement emphasizes that rates are subject to change via future filings but remain fixed once invested.
2018-06-07 · 0001493152-18-008316
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
Shepherd's Finance, LLC issued a rate supplement for its subordinated fixed-rate notes, updating annual interest rates and effective yields for various maturity periods. The supplement supersedes a prior rate update and outlines terms for interest accrual, compounding, and payment options. The offering remains subject to the prospectus and associated risk factors.
2018-05-24 · 0001493152-18-007751
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes · Use of proceeds To fund loan assets and other capital needs
Shepherd's Finance, LLC's 424B3 filing supplements its April 30, 2018 prospectus with updates on its follow-on offering of Fixed Rate Subordinated Notes, revised state-specific suitability standards (notably Alaska's requirements), renegotiation of a loan to Lex Partners II, and updated financial disclosures including unaudited Q1 2018 results. The offering remains active until September 2018, with $53 million in Notes still available for sale.
2018-05-10 · 0001493152-18-006588
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows S-1 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
The current 424B3 filing serves as a rate supplement for Shepherd's Finance, LLC's subordinated fixed-rate notes, detailing specific interest rates, effective yields, and payment terms. Investors select a maturity period (12-48 months) with corresponding fixed interest rates, which remain unchanged throughout the note's term. Interest is paid monthly or compounded until maturity, with no FDIC insurance or public trading market. The filing emphasizes the unsecured, subordinated nature of the notes and reiterates risks from the prior S-1 prospectus.
2018-05-03 · 0001493152-18-006183
S-1
filed
Initial registration statement
Initial public filing submitted to start the SEC review process.
Follows EFFECT in the pre-IPO sequence.
Price $70,000,000 · Gross proceeds $70,000,000
Subordinated Notes · Use of proceeds general corporate purposes
Shepherd's Finance, LLC is offering up to $70 million in Fixed Rate Subordinated Notes on a continuous basis. The filing includes unsold securities from prior registrations (including $52 million from a 2015 offering) and outlines terms for maturities (1-4 years), interest rates, and redemption policies. The company emphasizes that notes are unsecured, subordinated to senior debt, and lack insurance or market liquidity.
2018-05-01 · 0001493152-18-006020
EFFECT
effective
SEC effectiveness notice
SEC declared the registration statement effective, allowing the offering to proceed.
Follows 424B3 and marks the registration effective.
Shepherd's Finance, LLC's Notice of Effectiveness confirms the $70 million offering of Fixed Rate Subordinated Notes, which are issued continuously with maturities from 1 to 4 years and interest rates ranging from 9% to 11%. The notes are unsecured, subordinated to senior debt, and lack a public trading market. The company operates as an emerging growth entity with no underwriters, and proceeds are used directly by the company without escrow. The offering includes renewal options and redemption terms, with risks tied to reliance on a single developer and high leverage.
2018-04-30 · 9999999995-18-000982
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Price $70,000,000 · 70,000,000 shares · Gross proceeds $70,000,000
Fixed Rate Subordinated Notes · Use of proceeds to fund our business operations and commitments · Flags self_underwritten · Underwriters self_underwritten
Shepherd's Finance, LLC is offering up to $70 million in Fixed Rate Subordinated Notes on a continuous basis, with maturities ranging from 12 to 48 months and fixed interest rates between 9.00% and 11.00%. The notes are unsecured, subordinated to senior debt, and lack a public trading market. The company emphasizes that investments are risky, speculative, and not insured by the FDIC. Previous offerings ended in 2015, with $15.98 million issued as of March 2018. The notes are sold directly without underwriters, and proceeds are used immediately by the company.
2018-04-30 · 0001493152-18-005948
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
Shepherd's Finance, LLC issued a rate supplement for its subordinated fixed rate notes, updating interest rates for various maturities (12, 19, 30, and 48 months) and detailing payment terms. The supplement supersedes a prior rate update from March 20, 2018, and is part of the prospectus dated April 20, 2017. It emphasizes that interest rates are fixed once selected and outlines compounding mechanisms for unpaid interest.
2018-04-24 · 0001493152-18-005693
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes
This 424B3 filing supplements Shepherd's Finance, LLC's prospectus to update the status of its follow-on offering of Fixed Rate Subordinated Notes, disclose a Twelfth Amendment to its Credit Agreement, include updated Management's Discussion and Analysis (MD&A) for 2017, and provide audited financial statements as of December 31, 2017. The follow-on offering, initiated in 2015, had issued $15.9 million in Notes by March 2018, with $54.1 million remaining available for sale. The offering was extended to September 2018.
2018-03-23 · 0001493152-18-003819
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
The current filing is a rate supplement for Shepherd's Finance, LLC's Subordinated Fixed Rate Notes, updating interest rates and effective yields for various maturity periods. It supersedes the previous rate supplement dated March 6, 2018, and references the prospectus dated April 20, 2017. The document outlines selected annual interest rates, compounding mechanisms, and details on how effective yields are calculated. It emphasizes that rates are fixed once invested and notes risks associated with the unsecured, uninsured nature of the notes.
2018-03-20 · 0001493152-18-003625
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated fixed rate notes with variable maturity terms
The current 424B3 filing from March 6, 2018, updates the interest rates for Shepherd's Finance, LLC's Subordinated Fixed Rate Notes. It supersedes the previous rate supplement from January 9, 2018, and provides a detailed table of annual interest rates, effective yields, and yields to maturity for note durations ranging from 12 to 48 months. The filing emphasizes that interest rates are fixed once selected and outlines terms for monthly or compounded interest payments. It also reiterates that the notes are not FDIC-insured or guaranteed by any institution.
2018-03-06 · 0001493152-18-002943
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes
Shepherd's Finance, LLC updates its follow-on offering of Fixed Rate Subordinated Notes, extending the offering period to September 2018 and reporting $14.6 million in notes issued. The company appointed Catherine Loftin as its first Chief Financial Officer (CFO), replacing the previous absence of the role.
2018-01-23 · 0001493152-18-000904
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes with specified interest rates and maturity terms
The current filing is a rate supplement for Shepherd's Finance, LLC's Subordinated Fixed Rate Notes, updating interest rates and effective yields for various maturities. It confirms that selected rates are fixed once invested and details compounding mechanisms for interest payments. The document supersedes a prior rate supplement from June 2017 and emphasizes that rates remain unchanged post-investment.
2018-01-09 · 0001493152-18-000347
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes
Shepherd's Finance, LLC updates its follow-on offering status, adding Indiana-specific suitability standards, entering a $4M line of credit with Paul Swanson, amending its LLC agreement, and providing updated financials for the three and nine months ended September 30, 2017. The offering remains active until September 2018, with $55.4M in Notes remaining available for sale.
2017-11-06 · 0001493152-17-012484
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Gross proceeds $14,370,204
Fixed Rate Subordinated Notes · Use of proceeds Proceeds used for general corporate purposes, including debt repayment and working capital
This 424B3 filing supplements Shepherd's Finance, LLC's prospectus, updating the status of its follow-on offering of Fixed Rate Subordinated Notes, detailing a Sixth Amendment to a Loan Purchase and Sale Agreement, and providing updated financials and MD&A for the three and six months ended June 30, 2017. The offering was extended to September 2018, with $55.6M remaining available for sale. The Sixth Amendment allows a buyer to purchase portions of three loans under modified terms, with specific payment structures and risk prioritization.
2017-08-08 · 0001493152-17-008677
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
Shepherd's Finance, LLC's 424B3 filing dated June 19, 2017, updates interest rates for subordinated fixed-rate notes. The document provides a table of annual interest rates, effective yields, and yields to maturity for note durations ranging from 12 to 48 months. It clarifies compounding mechanisms, payment terms, and emphasizes that notes are unsecured, uninsured, and not guaranteed by any institution. The filing supersedes the May 8, 2017, rate supplement and reaffirms the prospectus dated April 20, 2017.
2017-06-19 · 0001493152-17-006810
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes with specified interest rates and yields
This 424B3 filing serves as a rate supplement for Shepherd's Finance, LLC's subordinated fixed-rate notes, updating interest rates and effective yields for various maturity periods (12-48 months). It clarifies that rates are fixed once invested, with details on compounding interest and payment structures. The document replaces an earlier March 2017 rate supplement and emphasizes that notes are not FDIC-insured or guaranteed.
2017-05-08 · 0001493152-17-004829
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows EFFECT and confirms the priced prospectus.
Price $563,756 · 6 shares · Gross proceeds $563,756
Series C Cumulative Preferred Units · Use of proceeds No issuer proceeds as the transaction was a private sale to an accredited investor
Shepherd's Finance, LLC's 424B3 filing supplements the April 20, 2017 prospectus with updates on its follow-on offering of Fixed Rate Subordinated Notes, issuance of Series C cumulative preferred units, and unaudited financials for Q1 2017. The offering, initiated in 2015, had raised $10.8M as of April 2017, with $59.2M remaining. The company also disclosed updated Management's Discussion and Analysis (MD&A) and financial statements, reflecting loan assets of $24.2M as of March 31, 2017.
2017-04-27 · 0001493152-17-004462
EFFECT
effective
SEC effectiveness notice
SEC declared the registration statement effective, allowing the offering to proceed.
Follows 424B3 and marks the registration effective.
Shepherd's Finance, LLC has received effectiveness for its $70 million offering of Fixed Rate Subordinated Notes. The notes are unsecured, subordinated to senior debt, and have maturities ranging from 1 to 4 years with fixed interest rates. The offering is conducted directly without underwriters, with no public trading market. Proceeds will be used for general corporate purposes, and the notes are subject to risks including lack of insurance, subordination, and reliance on a single developer.
2017-04-20 · 9999999995-17-000882
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Price $70,000,000 · Gross proceeds $70,000,000
Fixed Rate Subordinated Notes · Use of proceeds general corporate purposes · Flags self_underwritten · Underwriters self-underwritten
Shepherd's Finance, LLC is offering up to $70 million in Fixed Rate Subordinated Notes on a continuous basis, with maturities ranging from 1 to 4 years and interest rates between 8% and 10%. The notes are unsecured, subordinated to senior debt, and lack a public trading market. The offering is direct, without underwriters, and includes redemption terms and risk disclosures. The follow-on offering, initiated in 2015, remains active until September 2017.
2017-04-20 · 0001493152-17-004213
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Price $100,000 · Gross proceeds $440,000
Units · Series C Cumulative Preferred Units at $100,000 per unit · Use of proceeds General corporate purposes
Shepherd's Finance, LLC's 424B3 filing dated March 22, 2017, updates the prospectus with key developments: status of its follow-on offering of fixed-rate subordinated notes, issuance of Series C Cumulative Preferred Units, a Loan Purchase and Sale Agreement with Builder Finance, Inc., updated Management's Discussion and Analysis (MD&A) for 2016, and audited financial statements. The filing highlights ongoing capital raising efforts, structured preferred unit terms, and expanded loan servicing arrangements.
2017-03-22 · 0001493152-17-002763
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
The current filing is a rate supplement for Shepherd's Finance, LLC's Subordinated Fixed Rate Notes, updating interest rates for various maturity periods (12 to 48 months) and explaining compounding mechanisms. It confirms that rates are effective until a later supplement and references the prospectus and risk factors. The document emphasizes that notes are not FDIC-insured or guaranteed.
2017-03-07 · 0001493152-17-002201
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes · Use of proceeds To fund the acquisition of a corporate office in Jacksonville, Florida
This filing supplements Shepherd's Finance, LLC's prospectus with updates on the status of its follow-on offering of Fixed Rate Subordinated Notes, acquisition of a corporate office in Jacksonville, Florida, and updated financial disclosures including unaudited condensed consolidated financial statements for the three and nine months ended September 30, 2016. The offering remains active until September 2017, with $65 million in notes still available for sale.
2016-11-16 · 0001493152-16-015188
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes issued by Shepherd's Finance, LLC
Shepherd's Finance, LLC issued a rate supplement for its Subordinated Fixed Rate Notes, detailing updated annual interest rates and effective yields for various maturity periods (12 to 48 months). The document clarifies that selected rates are fixed for the note's term and outlines compounding mechanisms for interest payments. It also reaffirms that the notes are not FDIC-insured or guaranteed by any institution.
2016-09-09 · 0001493152-16-013220
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes
This supplement updates the prospectus for Shepherd's Finance, LLC's follow-on offering of Fixed Rate Subordinated Notes, including the Eleventh Amendment to a credit agreement, updated Management's Discussion and Analysis (MD&A) with financial data for the three and six months ended June 30, 2016, and unaudited financial statements. The offering remains active until September 2017, with $66.2M in Notes available for sale as of August 2, 2016.
2016-08-02 · 0001493152-16-011902
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Gross proceeds $3,662,000
Fixed Rate Subordinated Notes
Shepherd's Finance, LLC updates its IPO filing regarding the status of its follow-on offering of Fixed Rate Subordinated Notes and renegotiation of loans to Eclipse Partners II, LLC (EPII) and Lex Partners II, LLC (LPII). The follow-on offering, initiated in September 2015, had issued $3.66 million in notes as of July 2016, with $66.34 million remaining. The offering expires in September 2017 unless extended. Loans to EPII and LPII, secured by mortgages and a $300,000 deposit, faced defaults, leading to renegotiations. EPII surrendered the Whittier Property via a deed in lieu of foreclosure, while LPII transferred the Vista Property to a third party, with ongoing construction plans.
2016-07-11 · 0001493152-16-011461
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated fixed rate notes with variable maturity terms
The current filing is a rate supplement for Shepherd's Finance, LLC's Subordinated Fixed Rate Notes, updating interest rates and yield calculations for various maturity periods. It outlines fixed annual interest rates, compounding mechanisms, and payment terms, emphasizing that rates are locked once selected. The document supersedes a prior rate supplement and should be read with the prospectus dated April 21, 2016.
2016-06-24 · 0001493152-16-011061
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes
This 424B3 filing supplements Shepherd's Finance, LLC's prospectus dated April 21, 2016, providing updates on the follow-on offering of Fixed Rate Subordinated Notes. It includes Alabama's state-specific suitability standards, Management's Discussion and Analysis (MD&A) for Q1 2016, and unaudited financial statements. The follow-on offering, initiated in September 2015, had issued $3.5M in notes by May 2016, with $66.5M remaining available for sale. The offering expires September 2017 unless extended.
2016-05-12 · 0001493152-16-009675
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows EFFECT and confirms the priced prospectus.
Subordinated Fixed Rate Notes
Shepherd's Finance, LLC issued a rate supplement (424B3) dated April 25, 2016, updating interest rates for Subordinated Fixed Rate Notes. The document outlines annual interest rates and effective yields for maturities of 18, 24, 36, and 48 months, with terms specifying monthly or maturity-based interest payments. It emphasizes that rates are fixed once selected and not subject to change post-investment.
2016-04-25 · 0001493152-16-009150
EFFECT
effective
SEC effectiveness notice
SEC declared the registration statement effective, allowing the offering to proceed.
Follows 424B3 and marks the registration effective.
Shepherd's Finance, LLC's Notice of Effectiveness dated April 21, 2016, confirms the status of its follow-on offering of Fixed Rate Subordinated Notes, updates financial disclosures, and details new loan agreements. The filing includes audited 2015 financial statements, a construction loan to Lex Partners II, LLC, and amendments to a loan purchase agreement with S.K. Funding, LLC. The company also provides updated Management's Discussion and Analysis (MD&A) of its financial condition.
2016-04-21 · 9999999995-16-004287
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Gross proceeds $1,477,000
Fixed Rate Subordinated Notes · Use of proceeds Debt repayment, working capital, and acquisitions
This 424B3 filing supplements Shepherd's Finance, LLC's prospectus with updates on the Follow-on Offering of Fixed Rate Subordinated Notes, including the status of the offering, a new Construction Loan Agreement with Lex Partners II, LLC, a Second Amendment to a Loan Purchase Agreement with S.K. Funding, LLC, updated Management's Discussion and Analysis (MD&A) for 2015, and audited financial statements. The offering remains active until September 2017, with $68.5M in Notes still available for sale.
2016-03-09 · 0001493152-16-007924
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
The current filing updates the interest rates and terms for Shepherd's Finance, LLC's Subordinated Fixed Rate Notes. It supersedes the previous rate supplement from January 29, 2016, and provides revised annual interest rates, effective yields, and maturity durations for note purchases. The document emphasizes that interest rates are fixed once selected and outlines compounding mechanisms for unpaid interest.
2016-03-07 · 0001493152-16-007852
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated fixed rate notes with varying maturity terms
Shepherd's Finance, LLC issued a rate supplement for its subordinated fixed-rate notes, detailing annual interest rates and effective yields for maturity periods ranging from 18 to 48 months. The supplement clarifies interest payment options (monthly or at maturity), compounding rules, and states that rates are fixed once selected. It emphasizes that notes are not FDIC-insured or guaranteed by any institution.
2016-01-29 · 0001575872-16-000245
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes · Use of proceeds Proceeds are用于 the follow-on offering of Notes
Shepherd's Finance, LLC updates the status of its follow-on offering of Fixed Rate Subordinated Notes, noting $1,464,000 issued and $68,536,000 remaining available. The filing also discloses the Third Amendment to its Loan Purchase and Sale Agreement with 1st Financial Bank USA, increasing the purchase percentage of eligible loans from 50% to 60% after fees.
2016-01-27 · 0001575872-16-000241
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated notes with a fixed rate of 10% · Series B Cumulative Redeemable Preferred Units · Selling stockholders only · Use of proceeds for general corporate purposes
Shepherd's Finance, LLC updates its IPO filing regarding the status of its follow-on offering of Fixed Rate Subordinated Notes, issuance of Preferred Units, and a common equity sale to S.K. Funding, LLC. The follow-on offering, initiated on September 29, 2015, had $68.55M in Notes remaining for public sale as of January 7, 2016, with a termination date of September 2017 unless extended. Preferred Units were issued to IMA and BMH under amended agreements, with cumulative 10% annual distributions. Additionally, S.K. Funding, LLC acquired 4% of Class A Common Units, altering ownership structure.
2016-01-08 · 0001575872-16-000231
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
The current filing updates the interest rates for Shepherd's Finance, LLC's subordinated fixed rate notes, detailing annual interest rates and effective yields for various maturities. It explains compounding mechanisms for interest payments and confirms that rates are effective until a later supplement. The filing also reiterates that the notes are not insured by FDIC or other entities and references risk factors from the prospectus.
2015-12-29 · 0001575872-15-000227
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes
Shepherd's Finance, LLC updates its follow-on offering of Fixed Rate Subordinated Notes, detailing the status of the offering, amendments to loan agreements, a new construction loan, and state-specific suitability standards. The follow-on offering, launched in September 2015, had issued $864,000 in notes by December 2015, with $69.1M remaining. The company amended its Loan Purchase and Sale Agreement with S.K. Funding, Inc. to allow larger loan purchases and entered a $2.64M construction loan with Eclipse Partners II, LLC, secured by a mortgage. A New Jersey suitability standard was added, requiring investors to meet net worth or income thresholds.
2015-12-15 · 0001575872-15-000212
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes
Shepherd's Finance, LLC updates its IPO filing with details on the status of its follow-on offering of Fixed Rate Subordinated Notes, a new construction loan agreement, updated financial results for Q3 and YTD 2015, and unaudited condensed consolidated financial statements. The initial public offering was terminated in 2015, with $8.2M issued, while the follow-on offering remains active until 2017. A $2.4M construction loan was entered into for a Sarasota, FL development project.
2015-11-13 · 0001575872-15-000169
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
Shepherd's Finance, LLC issued a rate supplement (424B3) dated November 9, 2015, updating interest rates for subordinated fixed-rate notes. This document supersedes the October 14, 2015 rate supplement and outlines selected annual interest rates, effective yields, and maturity terms for note investments. Investors must choose a maturity term at purchase, with fixed rates applying throughout the note's term. Interest is paid monthly or at maturity, with compounding effects detailed for accrued interest.
2015-11-09 · 0001575872-15-000163
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
Shepherd's Finance, LLC issued a rate supplement for its Subordinated Fixed Rate Notes, updating interest rates for various maturity terms. The document supersedes a previous rate supplement from October 7, 2015, and outlines annual interest rates, effective yields, and compounding terms for investments. The filing emphasizes that rates are fixed once selected and not subject to change post-investment.
2015-10-14 · 0001575872-15-000142
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows EFFECT and confirms the priced prospectus.
Subordinated Fixed Rate Notes
The current 424B3 filing serves as a rate supplement to the prospectus for Shepherd's Finance, LLC's subordinated fixed-rate notes. It outlines specific interest rates and effective yield calculations for different maturity periods (12, 17, 36, and 48 months) and details how interest is paid (monthly or at maturity). The document emphasizes that selected rates are fixed once invested and not subject to change, with compounding effects if interest is not withdrawn. The supplement is effective until a later dated update is filed.
2015-10-07 · 0001575872-15-000140
EFFECT
effective
SEC effectiveness notice
SEC declared the registration statement effective, allowing the offering to proceed.
Follows 424B3 and marks the registration effective.
Shepherd's Finance, LLC is offering up to $70 million in fixed-rate subordinated notes with maturities ranging from 12 to 48 months. The notes are unsecured, subordinated to senior debt, and lack a public trading market. The company emphasizes that investments are speculative, with no FDIC insurance or guarantees. The offering is conducted directly without underwriters, and proceeds are used for general corporate purposes.
2015-09-29 · 9999999995-15-002608
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows S-1/A and confirms the priced prospectus.
Price $70,000,000 · Gross proceeds $70,000,000
Fixed Rate Subordinated Notes · Use of proceeds general business purposes · Underwriters self-underwritten
Shepherd's Finance, LLC is offering up to $70 million in Fixed Rate Subordinated Notes on a continuous basis, with maturities ranging from 1 to 4 years and interest rates between 4% and 8%. The Notes are unsecured, subordinated to senior debt, and offered directly without an underwriter. Investors face risks including lack of liquidity, no insurance, and reliance on a single developer. The offering includes state-specific suitability standards and redemption terms.
2015-09-29 · 0001575872-15-000138
S-1/A
amended
Amended registration statement
Updated registration statement filed after SEC comments or deal changes.
Updates the prior 424B3 filing.
Price $70,000,000 · Gross proceeds $70,000,000
Fixed Rate Subordinated Notes · Use of proceeds to fund debt repayment, working capital, and other general corporate purposes · Underwriters self-underwritten
Shepherd's Finance, LLC is offering up to $70 million in aggregate principal amount of Fixed Rate Subordinated Notes on a continuous basis. The notes are unsecured, subordinated to senior debt, and lack a public trading market. The filing amends previous disclosures to include unsold securities from a prior offering, reducing registration fees. The company operates as an emerging growth company with limited historical data and relies heavily on a single developer, increasing risk exposure.
2015-09-02 · 0001575872-15-000102
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B2 and confirms the priced prospectus.
Subordinated Fixed Rate Notes
The current filing is a rate supplement for Shepherd's Finance, LLC's Subordinated Fixed Rate Notes, dated August 14, 2015, superseding the previous rate supplement dated August 12, 2015. It outlines interest rates and yield calculations for notes with maturities ranging from 12 to 48 months, emphasizing that rates are fixed once selected and that interest may compound if not paid monthly. The document reiterates that notes are not FDIC-insured or guaranteed.
2015-08-14 · 0001575872-15-000094
424B2
filed
Prospectus supplement
Prospectus supplement that can carry timing details without itself confirming imminent trading.
Follows 424B3 in the pre-IPO sequence.
Subordinated Fixed Rate Notes
The current 424B2 filing serves as a rate supplement for Shepherd's Finance, LLC's subordinated fixed-rate notes, updating interest rates and effective yields for different maturity periods. It replaces a prior rate supplement and outlines terms for interest payments, compounding, and the fixed nature of rates once selected. The document emphasizes that notes are not insured or guaranteed and references risk factors from the prospectus.
2015-08-12 · 0001575872-15-000080
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B2 and confirms the priced prospectus.
Gross proceeds $7,638,000
Subordinated Notes · Use of proceeds Proceeds used for commercial lending and operations
Shepherd's Finance, LLC's 424B3 filing updates the prospectus with financial results for the three and six months ended June 30, 2015, including loan portfolio growth, capital structure details, and offering status. The offering, initially launched in 2012, was extended to October 4, 2015, with $691 million in Notes remaining unsold. The company emphasizes its focus on commercial lending to residential construction firms, leveraging its CEO's industry experience and managing risks through loan loss provisions and collateral valuations.
2015-08-05 · 0001575872-15-000072
424B2
filed
Prospectus supplement
Prospectus supplement that can carry timing details without itself confirming imminent trading.
Follows S-1/A in the pre-IPO sequence.
Subordinated Fixed Rate Notes
Shepherd's Finance, LLC's 424B2 filing updates the interest rates and yields for its subordinated fixed-rate notes, superseding a prior rate supplement. The document outlines specific annual interest rates and effective yields for note maturities ranging from 18 to 48 months, emphasizing that rates are fixed once selected. The notes remain unsecured, subordinated, and not insured by the FDIC or other entities, with no public trading market. The offering is continuous, with no minimum sales requirements, and includes renewal options at maturity.
2015-07-16 · 0001575872-15-000061
S-1/A
amended
Amended registration statement
Updated registration statement filed after SEC comments or deal changes.
Updates the prior 424B2 filing.
Price $70,000,000 · Gross proceeds $70,000,000
Fixed Rate Subordinated Notes · Use of proceeds Debt repayment, working capital, and acquisitions · Flags self_underwritten · Underwriters self-underwritten
Shepherd's Finance, LLC is offering up to $70 million in aggregate principal amount of Fixed Rate Subordinated Notes on a continuous basis. The notes are unsecured and subordinated to senior debt, with maturities ranging from one to four years. The offering is conducted directly by the company without underwriters, and there is no public trading market for the notes. The current filing amends the previous registration to include $70 million in unsold securities from a prior offering, with filing fees offset by previous payments.
2015-07-06 · 0001575872-15-000055
424B2
filed
Prospectus supplement
Prospectus supplement that can carry timing details without itself confirming imminent trading.
Follows 424B2 in the pre-IPO sequence.
Subordinated Fixed Rate Notes with variable maturity terms
Shepherd's Finance, LLC issued a rate supplement for its subordinated fixed rate notes, updating interest rates and effective yields for various maturity periods. The document outlines annual interest rates, annual effective yields, and effective yields to maturity for terms ranging from 12 to 48 months, with specific adjustments to the 18-month term compared to the previous filing. It emphasizes that interest rates are fixed once selected and notes the lack of FDIC insurance.
2015-05-21 · 0001019687-15-002083
424B2
filed
Prospectus supplement
Prospectus supplement that can carry timing details without itself confirming imminent trading.
Follows 424B3 in the pre-IPO sequence.
Subordinated Fixed Rate Notes with varying maturity terms and interest rates
The current filing is a rate supplement for Shepherd's Finance, LLC's Subordinated Fixed Rate Notes, updating interest rates and payment terms. It supersedes a prior rate supplement and outlines annual interest rates, effective yields, and compounding mechanisms. The previous filing (424B3) included broader updates on the offering status, a loan purchase agreement, and financial statements.
2015-05-15 · 0001019687-15-001977
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows S-1 and confirms the priced prospectus.
Gross proceeds $5,700,000
Fixed Rate Subordinated Notes · Use of proceeds Debt repayment, working capital, and loan acquisitions
Shepherd's Finance, LLC's 424B3 filing updates the prospectus for its Fixed Rate Subordinated Notes offering, including a Loan Purchase and Sale Agreement with Seven Kings Holdings, Inc., revised Management's Discussion and Analysis (MD&A) for Q1 2015, and unaudited financial statements. The offering, initially launched in 2012, was extended to October 2015. The company reported $5.7M in gross proceeds and $693.37M in remaining Notes for sale as of May 2015.
2015-05-08 · 0001019687-15-001821
S-1
filed
Initial registration statement
Initial public filing submitted to start the SEC review process.
Follows EFFECT in the pre-IPO sequence.
Price $70,000,000 · 70,000,000 shares
Fixed Rate Subordinated Notes · Use of proceeds Debt repayment and general corporate purposes
Shepherd's Finance, LLC is offering up to $70 million in fixed-rate subordinated notes through a continuous offering, including unsold securities from a prior S-1 registration (File No. 333-181360) filed in 2012. The current S-1 amends the previous filing to carry forward $690 million in unsold securities, reducing current registration fees to $0. The notes are unsecured, subordinated to senior debt, and lack a public trading market.
2015-04-29 · 0001019687-15-001657
EFFECT
effective
SEC effectiveness notice
SEC declared the registration statement effective, allowing the offering to proceed.
Follows 424B3 and marks the registration effective.
Shepherd's Finance, LLC announces the effectiveness of its Fixed Rate Subordinated Notes offering, extending the offering period to October 4, 2015. The filing includes updated financial disclosures, audited consolidated financial statements for 2014, and revised Management's Discussion and Analysis (MD&A) of financial condition. The company reports $5.87 million in gross proceeds raised through March 2015, with $694 million in Notes remaining available for sale. The offering extension and updated financials represent key updates since the previous 424B3 filing.
2015-04-06 · 9999999995-15-000792
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Gross proceeds $5,873,000
Fixed Rate Subordinated Notes
Shepherd's Finance, LLC updates its prospectus with financial results for 2014, including audited consolidated financial statements, and extends its note offering through October 2015. The filing highlights increased loan assets, equity growth, and a purchase and sale agreement to enhance liquidity. The company remains focused on commercial lending to residential builders amid market challenges.
2015-03-12 · 0001019687-15-000930
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
10 shares · Gross proceeds $1,000,000
Units · Series B Cumulative Redeemable Preferred Units · Use of proceeds used to convert $1,000,000 of debt into preferred equity and pay transaction costs
Shepherd's Finance, LLC updates its IPO filing with details on the extension of its Fixed Rate Subordinated Notes offering until October 4, 2015, the issuance of Series B Cumulative Redeemable Preferred Units converting $1M of debt into equity, amendments to its LLC agreement and credit agreement, and a Loan Purchase and Sale Agreement with 1st Financial Bank USA. The filing highlights ongoing liquidity management, debt restructuring, and new partnership terms.
2015-01-13 · 0001019687-15-000146
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Gross proceeds $4,645,000
Fixed Rate Subordinated Notes · Use of proceeds Proceeds used for commercial lending activities
Shepherd's Finance, LLC's 424B3 filing updates the status of its Fixed Rate Subordinated Notes offering, extending it to October 4, 2015. It includes unaudited financial data for the three and nine months ended September 30, 2014, showing increased loan assets and interest income. The company remains reliant on unsecured notes and affiliated credit lines for liquidity.
2014-11-06 · 0001019687-14-004081
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B2 and confirms the priced prospectus.
Gross proceeds $4,106,000
Fixed Rate Subordinated Notes
Shepherd's Finance, LLC's 424B3 filing updates the status of its Fixed Rate Subordinated Notes offering, extending the deadline to October 4, 2015, and includes unaudited financial statements for the three and six months ended June 30, 2014. The filing also revises the Management's Discussion and Analysis (MD&A) section to reflect updated financial performance, including interest income, loan loss provisions, and non-interest expenses. The company reports $4.1 million in gross proceeds raised through June 2014, with $695.8 million in Notes remaining for sale.
2014-08-05 · 0001019687-14-002958
424B2
filed
Prospectus supplement
Prospectus supplement that can carry timing details without itself confirming imminent trading.
Follows 424B3 in the pre-IPO sequence.
Subordinated Fixed Rate Notes
The current 424B2 filing serves as a rate supplement for Shepherd's Finance, LLC's subordinated fixed rate notes, updating interest rates and payment terms. It supersedes a prior rate supplement and outlines selected annual interest rates, effective yields, and compounding mechanisms. The notes are unsecured, not insured by FDIC, and subject to changes in rate supplements. The offering was active until October 2014 unless extended.
2014-06-17 · 0001019687-14-002460
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B2 and confirms the priced prospectus.
Gross proceeds $3,196,000
Fixed Rate Subordinated Notes · Use of proceeds for general corporate purposes and commercial lending operations
Shepherd's Finance, LLC's 424B3 filing updates the prospectus with financial results for Q1 2014, including unaudited condensed consolidated financial statements and an update on the status of its public offering of Fixed Rate Subordinated Notes. The offering, initiated in October 2012, had raised $3.196 million by May 2014, with $696.8 million in Notes remaining available for sale. The filing also includes Management's Discussion and Analysis (MD&A) of financial condition and results of operations, highlighting interest income, expenses, and loan loss provisions.
2014-05-06 · 0001019687-14-001662
424B2
filed
Prospectus supplement
Prospectus supplement that can carry timing details without itself confirming imminent trading.
Follows 424B2 in the pre-IPO sequence.
Subordinated Fixed Rate Notes
The current 424B2 filing for Shepherd's Finance, LLC updates the interest rates for Subordinated Fixed Rate Notes, superseding the previous rate supplement dated April 9, 2014. It provides a chart of annual interest rates, effective yields, and yields to maturity for note durations ranging from 12 to 48 months. The document emphasizes that interest rates are fixed once invested, with compounding options and clarifies that notes are not FDIC-insured or guaranteed.
2014-04-14 · 0001019687-14-001372
424B2
filed
Prospectus supplement
Prospectus supplement that can carry timing details without itself confirming imminent trading.
Follows 424B3 in the pre-IPO sequence.
Subordinated Fixed Rate Notes
The current 424B2 filing updates the interest rate structure for Shepherd's Finance, LLC's Subordinated Fixed Rate Notes. It provides a table detailing annual interest rates, effective yields, and maturity terms for durations ranging from 12 to 48 months. The document explains compounding mechanics, monthly interest payment thresholds, and confirms that selected rates are fixed once invested. It supersedes a prior rate supplement and references the prospectus dated March 28, 2014.
2014-04-09 · 0001019687-14-001312
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Gross proceeds $2,660,000
Fixed Rate Subordinated Notes · Use of proceeds Debt repayment, working capital, and acquisitions
Shepherd's Finance, LLC updates its April 8, 2014, prospectus supplement regarding its Fixed Rate Subordinated Notes offering and loan portfolio. The offering, initiated in October 2012, has raised $2.66 million, with $697.34 million remaining available for sale. The offering will expire in October 2014 unless extended. The loan portfolio details amendments to the Credit Agreement, allowing BMH to secure construction loans for specific subdivisions in Pennsylvania, including a $1.146 million superior mortgage adjustment to accelerate development and improve returns. Loan terms include 5% fees, interest at cost of funds plus 2%, and first-lien mortgages.
2014-04-08 · 0001019687-14-001296
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows EFFECT and confirms the priced prospectus.
Price $700,000,000 · Gross proceeds $700,000,000
Fixed Rate Subordinated Notes · Use of proceeds General corporate purposes · Flags self_underwritten · Underwriters self-underwritten
Shepherd's Finance, LLC is conducting its first public offering of $700 million in Fixed Rate Subordinated Notes, marketed directly without underwriters. The notes have maturities of 1-4 years, are subordinated to senior debt, and lack insurance or FDIC guarantees. The offering includes redemption terms, no public trading market, and risks related to the company's reliance on a single developer, limited operating history, and concentration of control under CEO Daniel M. Wallach.
2014-04-02 · 0001019687-14-001214
EFFECT
effective
SEC effectiveness notice
SEC declared the registration statement effective, allowing the offering to proceed.
Follows 424B2 and marks the registration effective.
Shepherd's Finance, LLC's Notice of Effectiveness confirms the acceptance of a rate supplement for its Subordinated Fixed Rate Notes, replacing a prior February 2014 rate supplement. The filing outlines updated interest rates and yield calculations for note terms ranging from 1 to 4 years, effective March 12, 2014, with the SEC's effectiveness date set for March 28, 2014.
2014-03-28 · 9999999995-14-000803
424B2
filed
Prospectus supplement
Prospectus supplement that can carry timing details without itself confirming imminent trading.
Follows 424B3 in the pre-IPO sequence.
Subordinated Fixed Rate Notes
The current 424B2 filing updates the interest rate structure for Shepherd's Finance, LLC's subordinated fixed-rate notes, replacing a prior rate supplement. It outlines annual interest rates, effective yields, and compounding terms for note maturities ranging from 1 to 4 years. The document emphasizes that rates are fixed once invested and supersedes earlier rate disclosures. It also reiterates that notes are unsecured, subordinated debt without FDIC insurance.
2014-03-12 · 0001019687-14-000808
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B2 and confirms the priced prospectus.
Gross proceeds $1,762,000
Fixed Rate Subordinated Notes · Use of proceeds Proceeds used for loan origination and operational expenses
Shepherd's Finance, LLC's 424B3 filing updates the status of its fixed-rate subordinated notes offering, which began in 2012. As of February 2014, $1.76 million in proceeds had been raised, with $698 million remaining available. The filing includes revised risk factors, updated management discussion and analysis (MD&A) with 2013 financial data, and audited consolidated financial statements. The company shifted its business model to focus on residential homebuilder loans, funded primarily through public note offerings. Key risks include subordination in foreclosures, loan value-to-collateral issues, and interest rate fluctuations.
2014-03-04 · 0001019687-14-000685
424B2
filed
Prospectus supplement
Prospectus supplement that can carry timing details without itself confirming imminent trading.
Follows 424B2 in the pre-IPO sequence.
Subordinated Fixed Rate Notes
This 424B2 filing serves as a rate supplement for Shepherd's Finance, LLC's subordinated fixed-rate notes, updating interest rates and yields compared to a prior supplement dated December 2013. The document outlines selected annual interest rates, annual effective yields, and effective yields to maturity for note durations of 1-4 years, emphasizing that rates are fixed once invested. It reiterates that notes are not FDIC-insured and includes compounding mechanics for interest payments.
2014-02-19 · 0001019687-14-000569
424B2
filed
Prospectus supplement
Prospectus supplement that can carry timing details without itself confirming imminent trading.
Follows 424B3 in the pre-IPO sequence.
Subordinated Fixed Rate Notes
The current 424B2 filing serves as a rate supplement for Shepherd's Finance, LLC's subordinated fixed-rate notes, outlining annual interest rates, effective yields, and compounding terms for investments with durations ranging from 1 to 4 years. It clarifies that interest rates are fixed once selected, with monthly or maturity-based payments, and emphasizes that notes are not FDIC-insured or guaranteed. The document supersedes a prior rate supplement from July 2013 and reiterates terms from the April 2013 prospectus.
2013-12-27 · 0001019687-13-004981
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Gross proceeds $1,173,193
unsecured subordinated notes · Use of proceeds debt repayment and working capital
This supplement updates the prospectus for Shepherd's Finance, LLC, providing financial data for the three and nine months ended September 30, 2013, and detailing the status of the Fixed Rate Subordinated Notes offering. The offering, initiated in October 2012, had raised $1.17 million by October 31, 2013, with $698.83 million in Notes remaining available for sale. The document also includes unaudited condensed consolidated financial statements and updates to the Management's Discussion and Analysis (MD&A) section.
2013-11-05 · 0001019687-13-004104
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B2 and confirms the priced prospectus.
Gross proceeds $720,000
Fixed Rate Subordinated Notes · Use of proceeds For commercial lending and operational purposes
This 424B3 filing supplements Shepherd's Finance, LLC's prospectus, providing updates on the Notes offering status, address change, credit agreement amendments, and unaudited financial results for the three and six months ended June 30, 2013. It includes revised terms for loan disbursements, modifications to credit agreements with a sole customer, and updated financial disclosures.
2013-08-14 · 0001019687-13-003129
424B2
filed
Prospectus supplement
Prospectus supplement that can carry timing details without itself confirming imminent trading.
Follows 424B2 in the pre-IPO sequence.
Subordinated Fixed Rate Notes
The current filing is a rate supplement for Shepherd's Finance, LLC's Subordinated Fixed Rate Notes, updating interest rates and effective yields compared to a previous supplement. It outlines selected maturity terms with corresponding annual interest rates, effective yields, and compounding mechanisms. The document supersedes an earlier rate supplement and emphasizes that rates are fixed once invested.
2013-07-19 · 0001019687-13-002663
424B2
filed
Prospectus supplement
Prospectus supplement that can carry timing details without itself confirming imminent trading.
Follows 424B2 in the pre-IPO sequence.
Subordinated Fixed Rate Notes
This 424B2 filing serves as a rate supplement for Shepherd's Finance, LLC's subordinated fixed rate notes, updating interest rate terms and effective yield calculations. It supersedes the prior May 30, 2013 rate supplement and provides details on annual interest rates, compounding mechanisms, and maturity terms for note investments. The document emphasizes that interest rates are fixed once invested and outlines payment structures for monthly or maturity-based distributions.
2013-06-21 · 0001019687-13-002417
424B2
filed
Prospectus supplement
Prospectus supplement that can carry timing details without itself confirming imminent trading.
Follows 424B3 in the pre-IPO sequence.
Subordinated Fixed Rate Notes with varying maturities and interest rates
The 424B2 filing updates the interest rate structure for Shepherd's Finance, LLC's subordinated fixed-rate notes, superseding a prior rate supplement. It outlines annual interest rates, effective yields, and compounding terms for notes with maturities ranging from 1 year to 4 years. The filing emphasizes that rates are fixed once selected and not subject to change, with interest paid monthly or at maturity. It also reiterates that notes are unsecured, unguaranteed, and not insured by FDIC or other entities.
2013-05-30 · 0001019687-13-002123
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Gross proceeds $349,000
Fixed Rate Subordinated Notes · Use of proceeds To fund commercial lending to residential homebuilders and acquisition and development loans
Shepherd's Finance, LLC's May 15, 2013 filing supplements its April 2, 2013 prospectus, updating the status of its $700 million Fixed Rate Subordinated Notes offering, amending its credit agreement with a key customer, and including unaudited financial results for Q1 2013. The offering remains active until October 2014, with $699.65 million in Notes still available for sale. The company also disclosed a second amendment to its credit agreement, increasing loan limits and adding a construction loan facility.
2013-05-15 · 0001019687-13-001896
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows EFFECT and confirms the priced prospectus.
Price $700,000,000 · Gross proceeds $700,000,000
Fixed Rate Subordinated Notes · Flags self_underwritten
Shepherd's Finance, LLC is conducting its first public offering of $700 million in Fixed Rate Subordinated Notes. The notes are unsecured, subordinated to senior debt, and lack a public trading market. The company, an emerging growth entity, focuses on commercial lending to residential construction developers. Key risks include lack of insurance, no market liquidity, reliance on a single developer, and concentration of control with CEO Daniel M. Wallach.
2013-04-02 · 0001144204-13-019640
EFFECT
effective
SEC effectiveness notice
SEC declared the registration statement effective, allowing the offering to proceed.
Follows 424B3 and marks the registration effective.
Shepherd's Finance, LLC's filing announces the effectiveness of its securities offering, including updates to state-specific suitability standards for Massachusetts and New Mexico, revised Management's Discussion and Analysis (MD&A) with 2012 financial data, and audited consolidated financial statements. The company shifted its focus from commercial real estate leases to commercial lending for residential homebuilders, emphasizing construction and acquisition/development loans. It also details its capital structure, reliance on unsecured subordinated notes, and plans to secure bank financing.
2013-03-20 · 9999999995-13-000753
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows 424B3 and confirms the priced prospectus.
Fixed Rate Subordinated Notes · Use of proceeds To fund commercial lending to residential homebuilders and related operations
Shepherd's Finance, LLC's March 12, 2013 filing updates its prospectus with revised state-specific suitability standards, audited 2012 financial statements, and enhanced Management's Discussion and Analysis (MD&A) covering the full year ended December 31, 2012. The company focuses on commercial lending to residential homebuilders for construction and land development, transitioning from prior real estate leasing operations. Key updates include compliance requirements for Massachusetts and New Mexico investors, liquidity plans involving bank financing, and risk management strategies for loan portfolio concentration and interest rate fluctuations.
2013-03-12 · 0001019687-13-000805
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows EFFECT and confirms the priced prospectus.
Fixed Rate Subordinated Notes · Use of proceeds Proceeds used for commercial lending and operational expenses
Shepherd's Finance, LLC supplements its October 4, 2012 prospectus with updates including revised state-specific suitability standards for Iowa and Maine residents, enhanced Management's Discussion and Analysis (MD&A) with financial data for the three and nine months ended September 30, 2012, and unaudited consolidated financial statements. The company focuses on commercial lending to residential homebuilders, with subordinated notes issued to the public junior to member-funded demand loans.
2012-11-20 · 0001019687-12-004240
EFFECT
effective
SEC effectiveness notice
SEC declared the registration statement effective, allowing the offering to proceed.
Follows 424B2 and marks the registration effective.
Shepherd's Finance, LLC's S-1 registration statement became effective on October 4, 2012, providing details about subordinated fixed rate notes. The filing includes interest rate structures, compounding mechanics, and disclosures about the unsecured nature of the notes, which are not insured by the FDIC or other entities.
2012-10-04 · 9999999995-12-002901
424B2
filed
Prospectus supplement
Prospectus supplement that can carry timing details without itself confirming imminent trading.
Follows 424B3 in the pre-IPO sequence.
Subordinated Fixed Rate Notes
This 424B2 filing serves as a rate supplement to Shepherd's Finance, LLC's October 4, 2012 prospectus for subordinated fixed-rate notes. It specifies interest rates and effective yields for maturities ranging from 1 to 4 years, outlines compounding terms, and confirms that interest rates are locked in upon investment. The document emphasizes that notes are unsecured, unguaranteed, and lack a public trading market, with returns dependent on the company's performance.
2012-10-04 · 0001193125-12-415260
424B3
priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows S-1/A and confirms the priced prospectus.
Gross proceeds $700,000,000
Fixed Rate Subordinated Notes · Use of proceeds to fund commercial construction loans to homebuilders and developers · Flags self_underwritten · Underwriters self-underwritten
Shepherd's Finance, LLC is conducting its first public offering of $700 million in Fixed Rate Subordinated Notes, issued directly without an underwriter. The notes have maturities of 1-4 years, with terms including redemption options and subordination to senior debt. The offering includes suitability standards for specific states and highlights significant risks such as lack of market liquidity, reliance on a single developer, and conflicts of interest.
2012-10-04 · 0001193125-12-415242
S-1/A
amended
Amended registration statement
Updated registration statement filed after SEC comments or deal changes.
Updates the prior S-1/A filing.
700,000,000 shares · Gross proceeds $700,000,000
Fixed Rate Subordinated Notes · Use of proceeds general unsecured obligations · Underwriters self-underwritten
Shepherd's Finance, LLC is offering up to $700 million in aggregate principal amount of Fixed Rate Subordinated Notes on a continuous basis. The Notes are unsecured, subordinated to senior debt, and offered directly without underwriters. The offering includes redemption terms, no public trading market, and risks related to reliance on a single developer, lack of insurance, and speculative nature.
2012-08-24 · 0001193125-12-368362
S-1/A
amended
Amended registration statement
Updated registration statement filed after SEC comments or deal changes.
Updates the prior S-1 filing.
700,000,000 shares
Fixed Rate Subordinated Notes · Use of proceeds General business purposes
Shepherd's Finance, LLC is offering up to $700 million in aggregate principal amount of Fixed Rate Subordinated Notes on a continuous basis. The notes are unsecured, subordinated to senior debt, and lack a public trading market. The company is controlled by Daniel M. Wallach, with risks including lack of FDIC insurance, speculative nature, reliance on a single developer, and conflicts of interest. The offering is direct, without underwriters, and subject to significant financial and operational risks.
2012-06-15 · 0001193125-12-272351
S-1
filed
Initial registration statement
Initial public filing submitted to start the SEC review process.
Follows RW in the pre-IPO sequence.
Price $700,000,000 · Gross proceeds $700,000,000
Fixed Rate Subordinated Notes · Use of proceeds to incur additional debt, including senior debt and the notes offered · Flags self_underwritten · Underwriters self-underwritten
Shepherd's Finance, LLC is offering up to $700 million in aggregate principal amount of Fixed Rate Subordinated Notes on a continuous basis. The notes have maturities ranging from one to four years, with no underwriter or placement agent involved. The offering was resubmitted after an initial withdrawal due to a procedural error in the previous S-1 filing. Proceeds will be used for commercial lending to residential construction and development participants, with repayment dependent on the company's operational success.
2012-05-11 · 0001193125-12-228466
RW
withdrawn
Withdrawal request
Issuer requested withdrawal of the registration statement.
Follows S-1 and ends the active registration process.
Shepherd's Finance, LLC submitted a Form RW to withdraw its previously filed Form S-1 registration statement due to an oversight in omitting required delaying amendment language under Rule 473. The company confirmed no securities were sold, no investor funds were received, and the offering was never launched. A corrected Form S-1 will be resubmitted with an updated facing page.
2012-05-10 · 0001193125-12-225874
S-1
filed
Initial registration statement
Initial public filing submitted to start the SEC review process.
First tracked pre-IPO filing for this issuer.
Price $700,000,000 · 700,000,000 shares · Gross proceeds $700,000,000
Fixed Rate Subordinated Notes · Use of proceeds General corporate purposes
Shepherd's Finance, LLC is offering up to $700 million in fixed-rate subordinated notes (Notes) on a continuous basis. The Notes are unsecured, subordinated to senior debt, and lack a public trading market. The company focuses on commercial lending to homebuilders and developers, with a single major revenue source and reliance on its CEO, Daniel M. Wallach, who holds full control. The offering is direct, without underwriters, and carries significant risks including lack of insurance, credit risk, and operational uncertainties.
2012-04-13 · 0001193125-12-162631
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