Legion M, a crowd-powered film studio, is reporting that it is nearing the close of its 10th online securities offering, having now raised over $25 million from 58,000 investors.
This most recent funding round has raised almost $3 million from 5,840 investors, with nearly 70% coming from new investors, according to the company. The company reports that it has also raised over $4 million for three films through “Fan-First-Financing,” a method in which individuals invest directly in the royalty stream of a specific movie. To date, the company reports that it has paid out over $1 million in royalties to these investors.
Legion M is an independent production company that has participated in projects like Mandy, Archenemy, Memory: The Origins of Alien, William Shatner: You Can Call Me Bill, and the SXSW Audience Award Winner My Dead Friend Zoe.
While Legion M has utilized crowdfunding marketplaces, IE, StartEngine, in the past, issuing securities under Reg A, Reg D and Reg CF. This current funding round is self-hosted, leveraging DealMaker’s tech stack. DealMaker is a tech-forward broker-dealer that specializes in online capital formation. You must first register to view the deal terms on their website.
A quick review on DisclosureQuest indicates that Legion M is seeking up to $3.75 million in a Reg CF offering. Investors may participate with a minimum investment of $100.80 (plus a transaction fee) or 48 shares at $2.10 per share.
The offering memorandum states that Legion M generates revenue through feature film production, distribution, Film and TV development, consumer products, media, live event production, and other ventures. Like many early-stage firms, Legion M is not generating a profit, with net losses of $3,549,371 and $2,813,295 for the years ended December 31, 2024, and 2023, respectively. For the year of 2024, Legion M generated $1.024 million in revenue.
The company states:
“At Legion M, our mission is to create long-term value for shareholders by building a company that’s financially successful and culturally significant.”
Legion M co-founder and CEO, Paul Scanlan, says they are building an entertainment company “driven by a vibrant and engaged community movement unlike anything else in the industry. While others are expressing concern about the future of entertainment, we’re more confident than ever in ours.”
Proceeds from this funding round will be used for marketing and development, project and operating expenses. If you become an investor, you have a vested interest in the company’s success and then will probably become a customer as well as an advocate. It is an interesting business model.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!