The information reflects transactions as reported, including deal descriptions, values, and statuses, but may contain gaps, such as undisclosed deal terms or financial metrics, which limit comprehensive analysis. While efforts have been made to ensure accuracy, users should consult primary sources or professional advisors for legal, financial, or strategic decisions. No warranties are made regarding the completeness or reliability of this data, and the provider assumes no liability for its use.

Arizona - Transaction Value and Count

Reflects ECM, DCM and ROF datasets

Arizona — Overview

Arizona’s capital markets in Q3 2025 reflected a dynamic and maturing ecosystem, with 82 transactions spanning equity, debt, and hybrid financings across industries ranging from health care and real estate to renewable energy, technology, and consumer services. The quarter was marked by a diverse mix of Regulation D private placements, early-stage venture and seed rounds, and a notable uptick in public follow-on offerings and corporate debt issuances. Prominent activity included Centuri Holdings’ $536 million equity raise, PetSmart’s $2.7 billion bond placements, and IPOs from Phoenix Education Partners and Black Rock Coffee Bar, signaling renewed institutional appetite for Arizona-based issuers. Growth-stage financings in sectors such as health tech (evolvedMD, Mindset Medical), software (RunBuggy OMI, Nuclearn), and infrastructure (Arizona Public Service, Carlisle Companies) highlighted the state’s transition from private capital formation to scalable public-market participation. Overall, the quarter demonstrated deepening investor confidence, expanding deal sophistication, and the increasing presence of Arizona firms on the national capital markets stage.

Arizona — X / Y Plot By Sector: ECM, DCM and ROF (Venture Capital)

Reflects ECM, DCM and ROF datasets

Equity Capital Markets: Monthly Aggregate Transaction Value and Transaction Count

Debt Capital Markets: Monthly Aggregate Transaction Value and Transaction Count

Rounds of Funding (Venture Capital): Monthly Aggregate Transaction Value and Transaction Count

Arizona — Capital Markets Segmentation

Reflects ECM, DCM and ROF datasets

Arizona — Sector Breakdown

Reflects ECM, DCM and ROF datasets

Second Level Primary Industry Breakdown

Reflects ECM, DCM and ROF datasets

Arizona — Capital Markets Deal Summaries

1. Supersede (07/01/2025) - ROF - Early Stage - Seed

Supersede completed a funding round, advancing commodity chemicals with a $5.00 million convertible debt issuance involving Closed Loop Partners, a major U.S. building-products distributor, angel groups, and strategic individuals.

2. Maui Imaging, Inc. (07/03/2025) - ROF - Growth - Series D

Maui Imaging, Inc. completed a Series D funding round, boosting health-care equipment with issuances of preferred shares totaling approximately $14.68 million at a post-money valuation of $87.66 million under Regulation D, including a $0.41 million placement-agent fee.

3. Gunnison Copper Corp. (07/07/2025) - ECM - Follow-on

Gunnison Copper Corp. completed a follow-on equity offering, enhancing diversified metals and mining with an upsized non-brokered private placement of 29.15 million units at CAD 0.30 each for CAD 8.75 million, including warrants, with Red Cloud Securities as placement agent.

4. ALTR FLTR Inc. (07/09/2025) - ROF - Early Stage - Seed

ALTR FLTR Inc. completed a seed funding round, advancing internet services and infrastructure with $5.00 million led by Demeter Investment Managers and involving Suntory Global Spirits, Bluestein Ventures, FTW Ventures, Xinomavro Ventures, Solvable Syndicate, Carem Impulse, and Arizona Venture Development Corporation.

5. Neuron Sports Ventures, Inc. (07/11/2025) - ROF - Venture - <5 Yrs

Neuron Sports Ventures, Inc. completed a venture funding round, supporting movies and entertainment with $0.10 million in convertible notes under Regulation D, with a minimum investment of $25,000.00.

6. evolvedMD, LLC (07/14/2025) - ROF - Venture - Series B

evolvedMD, LLC completed a Series B funding round, advancing health-care services with $34.00 million from 14.39 million preferred shares at $2.36 each, led by Goldman Sachs Asset Management and involving returning investors, at a post-money valuation of $117.05 million under Regulation D, with legal advisors Gunderson Dettmer and Latham & Watkins.

7. MP Distro LLC (07/14/2025) - ROF - Venture - <5 Yrs

MP Distro LLC initiated a venture funding round, targeting unclassified operations with plans for $25.00 million in common stock under Regulation D, with a minimum investment of $1.00 million.

8. Notary Everyday Inc. (07/14/2025) - ROF - Early Stage - Pre-Seed

Notary Everyday Inc. completed a pre-seed funding round, supporting unclassified activities with $0.30 million.

9. ShiftUp Inc. (07/15/2025) - ROF - Early Stage - Seed

ShiftUp Inc. completed a seed funding round, advancing application software with $3.00 million in common stock under Regulation D, including a first tranche of $0.64 million from nine investors and a minimum investment of $100,000.00.

10. Osaic Holdings, Inc. (07/17/2025) - DCM - Non-convertible Debt

Osaic Holdings, Inc. completed a debt offering, bolstering asset management with $520.00 million in non-convertible notes paying semi-annual interest starting February 1, 2026, guaranteed by domestic restricted subsidiaries.

11. Osaic Holdings, Inc. (07/17/2025) - DCM - Non-convertible Debt

Osaic Holdings, Inc. completed a debt offering, bolstering asset management with $400.00 million in non-convertible notes paying semi-annual interest starting February 1, 2026, guaranteed by domestic restricted subsidiaries.

12. Upland Self Storage Partners, LLC (07/17/2025) - ROF - Debt - Non-Convertible

Upland Self Storage Partners, LLC initiated a non-convertible debt funding, targeting unclassified self-storage with plans for $7.00 million under Regulation D, including a first tranche of $0.50 million from two investors and a $0.35 million placement-agent fee to NOBLE Capital Markets.

13. EOS Fitness Opco Holdings, LLC (07/21/2025) - ROF - Mature - >7 Yrs

EOS Fitness Opco Holdings, LLC completed a mature funding round, supporting leisure facilities with participation from existing investor Performance Equity Management through Performance Direct Investments V.

14. Mister Sparky Franchising SPE LLC (07/21/2025) - ROF - Venture - <5 Yrs

Mister Sparky Franchising SPE LLC completed a venture funding round, advancing construction and engineering with participation from new investors CSFC Management Company and Atticus Franchise Group.

15. SupplyWolf Inc. (07/21/2025) - ROF - Venture - <5 Yrs

SupplyWolf Inc. initiated a venture funding round, targeting unclassified operations with plans for $1.00 million in common stock under Regulation D, including a first tranche of $0.60 million from four investors and a minimum investment of $50,000.00.

16. Signing Day Sports, Inc. (07/22/2025) - ECM - Follow-on

Signing Day Sports, Inc. completed a follow-on equity offering, advancing application software with up to $10.10 million in common shares via a purchase agreement with Helena Global Investment Opportunities 1 Ltd under Regulation D, including a 3.5% cash fee to placement agent Maxim Group, $50,000 in expenses, $25,000 in due-diligence fees, and 50,000 commitment shares, with legal advisors BEVILACQUA PLLC and Lucosky Brookman.

17. Unlock Technologies, Inc. (07/23/2025) - ROF - Growth - Series 5-7 Yrs

Unlock Technologies, Inc. completed a growth funding round, supporting specialty finance in consumer focus with a $250.00 million share-purchase agreement with D2 Asset Management.

18. Offerpad Solutions Inc. (07/24/2025) - ECM - Follow-on

Offerpad Solutions Inc. completed a follow-on equity offering, enhancing real-estate services with $6.00 million expected by July 25, 2025, including concurrent private-placement warrants for 1.43 million shares at a $2.30 exercise price.

19. MBCA, Inc. (07/25/2025) - ROF - Debt - Non-Convertible

MBCA, Inc. initiated a non-convertible debt funding, targeting unclassified operations with plans for $2.20 million under Regulation D, including a first tranche of $0.20 million from one investor and a minimum investment of $200,000.00.

20. GACW Incorporated (07/28/2025) - ROF - Early Stage - Crowdfunding

GACW Incorporated completed a crowdfunding round, advancing automotive parts and equipment with up to $3.23 million from 862,474 common shares at $3.50 each via StartEngine, closing at a post-money valuation of $89.74 million with a first tranche of $0.78 million from 277 investors under Regulation C.

21. Outfront Health, LLC (08/01/2025) - ROF - Early Stage - Pre-Seed

Outfront Health, LLC initiated a pre-seed funding round, targeting unclassified health activities.

22. Mobivity Holdings Corp. (08/05/2025) - ECM - Convertible

Mobivity Holdings Corp. completed a convertible equity offering, advancing interactive media and services with $3.35 million in 15% senior secured convertible promissory notes due July 31, 2028, from investors Thomas B. Akin and Bruce E. Terker.

23. Menos AI Inc. (08/06/2025) - ROF - Early Stage - Seed

Menos AI Inc. completed a seed funding round, advancing application software with $5.20 million led by prominent Silicon Valley family offices and venture capital firms.

24. Centuri Holdings, Inc. (08/07/2025) - ECM - Follow-on

Centuri Holdings, Inc. completed a follow-on equity offering, enhancing construction and engineering with $336.38 million, including a 30-day option for 2.25 million additional shares fully exercised by underwriters.

25. Freefall Aerospace, Inc. (08/08/2025) - ROF - Early Stage - Seed

Freefall Aerospace, Inc. completed a seed funding round, advancing electronic components with approximately $4.00 million from 6.45 million Series Seed-1 preferred shares at $0.62 each, convertible at issue price, at a post-money valuation of $18.68 million.

26. PetSmart LLC (08/08/2025) - DCM - Non-convertible Debt

PetSmart LLC completed a debt offering, bolstering other specialty retail with $750.00 million in 10% senior unsecured notes due 2033, guaranteed by subsidiaries and rated Caa1 by Moody’s, closing August 18, 2025.

27. PetSmart LLC (08/08/2025) - DCM - Non-convertible Debt

PetSmart LLC completed a debt offering, bolstering other specialty retail with $1.95 billion in 7.50% senior first-lien notes due 2032, guaranteed by subsidiaries and pledged Chewy stock, rated B2 by Moody’s, closing August 18, 2025.

28. AZJAH33 LLC (08/11/2025) - ROF - Venture - <5 Yrs

AZJAH33 LLC initiated a venture funding round, targeting unclassified operations with plans for $0.28 million in common stock under Regulation D.

29. Arizona Public Service Company (08/12/2025) - DCM - Non-convertible Debt

Arizona Public Service Company completed a debt offering, bolstering electric utilities with $250.00 million in reopened 5.70% notes due 2034 paying semi-annual interest from February 15, 2026, with a 5.20% reoffer yield, settling August 15, 2025.

30. Arizona Public Service Company (08/12/2025) - DCM - Non-convertible Debt

Arizona Public Service Company completed a debt offering, bolstering electric utilities with $700.00 million in reopened notes due 2034 paying semi-annual interest from February 15, 2026, with a 5.94% reoffer yield and 105 bps treasury spread, settling August 15, 2025.

31. 537 Higley LLC (08/13/2025) - ROF - Venture - <5 Yrs

537 Higley LLC initiated a venture funding round, targeting unclassified operations with plans for $0.80 million in common shares under Regulation D.

32. Carlisle Companies Incorporated (08/13/2025) - DCM - Non-convertible Debt

Carlisle Companies Incorporated completed a debt offering, bolstering building products with $500.00 million in 5.25% notes due 2035 paying semi-annual interest from March 15, 2026, yielding 5.29%, concurrent with a separate $500 million issue due 2040.

33. Carlisle Companies Incorporated (08/13/2025) - DCM - Non-convertible Debt

Carlisle Companies Incorporated completed a debt offering, bolstering building products with $500.00 million in 5.55% notes due 2040 paying semi-annual interest from March 15, 2026, yielding 5.62%, concurrent with the 2035 issuance.

34. Liberty Star Uranium & Metals Corp. (08/13/2025) - ECM - Convertible

Liberty Star Uranium & Metals Corp. completed a convertible equity offering, advancing diversified metals and mining with a $0.14 million promissory note at 8% interest maturing in one year, convertible into common stock from Labrys Fund II at a 10% discount.

35. Vigilantex, Inc. (08/13/2025) - ROF - Debt - Non-Convertible

Vigilantex, Inc. initiated a non-convertible debt funding, targeting electronic equipment and instruments with plans for $5.00 million including options or warrants under Regulation D, with a first tranche of $3.69 million from 25 investors.

36. Black Rock Coffee Bar, Inc. (08/18/2025) - ECM - IPO

Black Rock Coffee Bar, Inc. completed an IPO, advancing restaurants with $338.24 million in Class A common stock listed on Nasdaq as “BRCB” on September 12, 2025, including a fully exercised 30-day option for 2.21 million additional shares and a 5% friends-and-family allocation, closing September 15, 2025.

37. Trimaxian – SMH LLC (08/18/2025) - ROF - Venture - <5 Yrs

Trimaxian – SMH LLC initiated a venture funding round, targeting unclassified operations with plans for $10.00 million in common stock under Regulation D.

38. InfiniCell Energy, Inc. (08/19/2025) - ROF - Early Stage - Crowdfunding

InfiniCell Energy, Inc. initiated a crowdfunding round, targeting unclassified energy with up to $1.00 million from SAFE securities at $1 each via Wefunder, closing April 30, 2026 under Regulation C with 7.90% expenses.

39. ALPHA CO Land Holdings, LLC (08/21/2025) - ROF - Venture - <5 Yrs

ALPHA CO Land Holdings, LLC initiated a venture funding round, targeting unclassified land holdings with plans for $1.00 million in common stock under Regulation D, including a first tranche of $0.58 million from five investors and a minimum investment of $25,000.00.

40. Alpine Maryland, LLC (08/22/2025) - ROF - Venture - <5 Yrs

Alpine Maryland, LLC initiated a venture funding round, targeting unclassified operations with plans for $1.30 million in common stock under Regulation D, with a minimum investment of $10,000.00.

41. CustomerInsights.AI, Inc. (08/22/2025) - ROF - Debt - Non-Convertible

CustomerInsights.AI, Inc. completed a non-convertible debt funding, advancing IT consulting and other services through a loan from new lender Cypress Growth Capital.

42. 216 Pharmacy Corp. (08/25/2025) - ECM - Follow-on

216 Pharmacy Corp. initiated a follow-on equity offering, targeting unclassified pharmacy with up to $15.00 million from 10 million shares at $1.50 each, terminating in 180 days, with a $20,000 minimum per investor and no underwriter.

43. OXbyEL Technologies, Inc. (08/26/2025) - ROF - Debt - Convertible

OXbyEL Technologies, Inc. initiated a convertible debt funding, targeting environmental and facilities services with plans for $0.10 million in notes under Regulation D, with a minimum investment of $100,000.00.

44. Cartel Coffee Lab, LLC (08/27/2025) - ROF - Early Stage - Crowdfunding

Cartel Coffee Lab, LLC initiated a crowdfunding round, advancing packaged foods and meats producers with up to $1.24 million from Class B common shares at $5.00 each via StartEngine under Regulation C, including a one-year hold period and $500 minimum investment.

45. 286300NY59-NY, LLC (08/28/2025) - ROF - Debt - Non-Convertible

286300NY59-NY, LLC initiated a non-convertible debt funding, targeting unclassified operations with plans for $5.50 million under Regulation D, including a first tranche of $1.86 million from 20 investors and a minimum investment of $25,000.00.

46. 57OKRPC-FL, LLC (08/28/2025) - ROF - Debt - Non-Convertible

57OKRPC-FL, LLC initiated a non-convertible debt funding, targeting unclassified operations with plans for $4.50 million under Regulation D, including a first tranche of $1.06 million from 10 investors and a minimum investment of $25,000.00, with advisor NOBLE Capital Markets.

47. Journey Medical Corporation (08/28/2025) - ECM - Follow-on

Journey Medical Corporation initiated a follow-on equity offering, advancing pharmaceuticals with sales via agents receiving a 3.00% commission.

48. Offerpad Solutions Inc. (08/28/2025) - ECM - Follow-on

Offerpad Solutions Inc. initiated a follow-on equity offering, enhancing real-estate services with up to $100.00 million in Class A common stock via Jefferies as agent receiving a 3.00% commission.

49. RideNow Group, Inc. (08/28/2025) - ROF - Debt - Non-Convertible

RideNow Group, Inc. completed a non-convertible debt funding, advancing automotive retail with $10.00 million in 13% unsecured subordinated promissory notes due 2028 from lenders Stone House Capital Management, Face Canyon, and Mark Tkach, subordinated to senior credit.

50. Azara Tempe Holdings, LLC (08/29/2025) - ROF - Venture - <5 Yrs

Azara Tempe Holdings, LLC initiated a venture funding round, targeting unclassified holdings with plans for $5.00 million in membership units under Regulation D, with a minimum investment of $50,000.00.

51. Liberty Star Uranium & Metals Corp. (08/29/2025) - ECM - Convertible

Liberty Star Uranium & Metals Corp. completed a convertible equity offering, advancing diversified metals and mining with a $0.14 million unsecured promissory note at 8% interest maturing in one year, from FirstFire Global Opportunities Fund at a 9.09% discount, with a $7,500 placement-agent fee to Moody Capital Solutions.

52. Phoenix Education Partners, Inc. (08/29/2025) - ECM - IPO

Phoenix Education Partners, Inc. completed an IPO, advancing education services with $136.00 million in common stock listed on NYSE as “PXED” on October 9, 2025, including a 30-day option for 637,500 additional shares, closing October 10, 2025, with legal advisors Paul, Weiss, Rifkind, Wharton & Garrison and Simpson Thacher & Bartlett.

53. Trinity Capital Inc. (08/29/2025) - ECM - Follow-on

Trinity Capital Inc. initiated a follow-on equity offering, advancing investment and business development companies with up to $250.00 million in common stock via sales agents Jefferies, B. Riley Securities, Keefe, Bruyette & Woods, and Compass Point receiving up to 2.00% commission and $500,000 in expenses.

54. Avnet, Inc. (09/02/2025) - ECM - Convertible

Avnet, Inc. completed a convertible equity offering, advancing technology distributors with an upsized $650.00 million in senior notes due 2030 at 1.75% YTM paying semi-annual interest from March 1, 2026, including a 13-day option for up to $100.00 million additional, closing September 5, 2025.

55. Centuri Holdings, Inc. (09/03/2025) - ECM - Follow-on

Centuri Holdings, Inc. completed a follow-on equity offering, enhancing construction and engineering with approximately $536.30 million, closing September 5, 2025.

56. ACES Diagnostics, Inc. (09/04/2025) - ROF - Venture - <5 Yrs

ACES Diagnostics, Inc. initiated a venture funding round, targeting health care equipment.

57. Central RoRo, LLC (09/04/2025) - ECM - Follow-on

Central RoRo, LLC initiated a follow-on equity offering, targeting unclassified operations with up to $75.00 million, including a 2.00% blended broker-dealer commission and $500 minimum subscription, with Silicon Valley Bank as escrow agent.

58. Amkor Technology, Inc. (09/08/2025) - DCM - Non-Convertible Debt

Amkor Technology, Inc. completed a debt offering, bolstering semiconductor materials and equipment with an upsized $500.00 million in 5.88% senior notes due 2033 paying semi-annual interest from April 1, 2026 at 5.88% YTM, closing September 22, 2025.

59. RefAssured, Inc. (09/08/2025) - ROF - Early Stage - Seed

RefAssured, Inc. completed a seed funding round, advancing application software with approximately $3.33 million from Series Seed-1 preferred stock at $1.92 each under Regulation D, at a post-money valuation of $6.20 million.

60. Nuclearn Inc. (09/09/2025) - ROF - Venture - Series A

Nuclearn Inc. completed a Series A funding round, advancing application software with $10.50 million led by Blue Bear Capital and involving SJF Ventures, Nucleation Capital, and AZ-VC.

61. AZLL LLC (09/10/2025) - ROF - Debt - Non-Convertible

AZLL LLC completed a non-convertible debt funding, bolstering food retail with a $5.25 million promissory note at 7.50% interest maturing September 5, 2030, jointly with Lee Lee Oriental Supermart from Royal Business Bank.

62. Lee Lee Oriental Supermart, Inc. (09/10/2025) - ROF - Debt - Non-Convertible

Lee Lee Oriental Supermart, Inc. completed a non-convertible debt funding, bolstering food retail with a $5.25 million promissory note at 7.50% interest maturing September 5, 2030, jointly with AZLL LLC from Royal Business Bank.

63. Opendoor Technologies Inc. (09/10/2025) - ECM - Follow-on

Opendoor Technologies Inc. completed a follow-on equity offering, enhancing real estate services with approximately $41.00 million from 6.17 million common shares at $6.65 each under Regulation D from Khosla Ventures Opportunity III, Eric Wu, and others, with legal advisor Wachtell, Lipton, Rosen & Katz and financial advisor Goldman Sachs.

64. My Hotsheet, Inc. (09/11/2025) - ROF - Venture - <5 Yrs

My Hotsheet, Inc. initiated a venture funding round, targeting application software with plans for $0.50 million in SAFE agreements under Regulation D, including a first tranche of $0.13 million from four investors.

65. Alaska Silver Corp. (09/12/2025) - ECM - Follow-on

Alaska Silver Corp. completed a follow-on equity offering, advancing diversified metals and mining with approximately $13.80 million from units including warrants, with a fully exercised 30-day option for 2.77 million additional units, underwriters’ warrants, and quotation on OTCQX as “WAMFF,” closing October 3, 2025, with legal advisors Dorsey & Whitney and Katten Muchin Rosenman and agent Cantor Fitzgerald Canada.

66. Arizona Boutique Stays Limited Partnership (09/15/2025) - ROF - Venture - <5 Yrs

Arizona Boutique Stays Limited Partnership initiated a venture funding round, targeting unclassified stays with plans for $0.54 million in common stock under Regulation D, including a first tranche of $0.18 million from two investors and a minimum investment of $90,000.00.

67. DMD Systems Recovery Inc. (09/15/2025) - ROF - Debt - Non-Convertible

DMD Systems Recovery Inc. completed a non-convertible debt funding, advancing environmental and facilities services with equity and senior debt from Tailwind Management, with legal advisors Polsinelli and Godfrey & Kahn and financial advisor Martin Wolf Securities.

68. Harquahala Valley Landowners LLC (09/16/2025) - ROF - Venture - <5 Yrs

Harquahala Valley Landowners LLC completed a venture funding round, targeting unclassified landowners with common stock under Regulation D.

69. Mindset Medical, Inc. (09/16/2025) - ROF - Venture - Series A

Mindset Medical, Inc. completed a Series A funding round, advancing health care technology with approximately $5.00 million from Series AA-1 preferred stock at $0.44 each under Regulation D, at a post-money valuation of $25.47 million, including a first tranche of $2.00 million from two investors.

70. Nulli Secundus Health Inc. (09/16/2025) - ROF - Venture - Series A

Nulli Secundus Health Inc. completed a Series A funding round, advancing health care services with approximately $10.00 million from Series A preferred stock at $2.19 each, at a post-money valuation of $30.47 million.

71. SoulArt Inc. (09/16/2025) - ROF - Early Stage - Seed

SoulArt Inc. completed a seed funding round, advancing unclassified art with participation led by Mashup Ventures partner Park Eunwoo.

72. CaliberCos Inc. (09/17/2025) - ECM - Follow-on

CaliberCos Inc. initiated a follow-on equity offering, advancing asset management with up to approximately $10.33 million in Class A common stock via sales agents R.F. Lafferty & Co. and The Benchmark Company receiving up to 3.00% commission.

73. Remlink, Inc. (09/18/2025) - ROF - Venture - <5 Yrs

Remlink, Inc. initiated a venture funding round, targeting unclassified operations with plans for $0.50 million in common shares and convertible debt under Regulation D, with a minimum investment of $50,000.00.

74. MVP Kids Media, LLC (09/19/2025) - ROF - Early Stage - Crowdfunding

MVP Kids Media, LLC initiated a crowdfunding round, advancing other specialty retail with up to $0.20 million from Class C common stock at $1.50 each via NetCapital under Regulation C, including a one-year hold period, no voting rights, and $9,800 intermediary fees.

75. MVP Kids Media, LLC (09/19/2025) - ROF - Venture - <5 Yrs

MVP Kids Media, LLC completed a venture funding round, advancing other specialty retail with $0.02 million in membership units under Regulation D.

76. Liberty Star Uranium & Metals Corp. (09/22/2025) - ECM - Convertible

Liberty Star Uranium & Metals Corp. completed a convertible equity offering, advancing diversified metals and mining with approximately $0.07 million in unsecured promissory notes at 8% interest maturing in one year from Jefferson Street Capital at a 10% discount.

77. HealthyU Family Medicine Holdings, LLC (09/23/2025) - ROF - Venture - <5 Yrs

HealthyU Family Medicine Holdings, LLC initiated a venture funding round, targeting unclassified health with plans for $20.00 million in common stock under Regulation D, including a first tranche of $2.80 million from two investors.

78. Precision Epigenomics Inc. (09/23/2025) - ROF - Debt - Non-Convertible

Precision Epigenomics Inc. initiated a non-convertible debt funding, targeting health care services with plans for $2.00 million under Regulation D, including a first tranche of $0.27 million from five investors.

79. Rise Over Run LLC (09/23/2025) - ROF - Early Stage - Crowdfunding

Rise Over Run LLC initiated a crowdfunding round, targeting unclassified operations with up to $1.00 million in promissory note securities via NSSC Funding Portal under Regulation C, closing March 31, 2026, with a $10,000 admin fee plus 7.00% success fee.

80. RunBuggy OMI, Inc. (09/23/2025) - ROF - Venture - Series B

RunBuggy OMI, Inc. completed a Series B funding round, advancing application software with approximately $37.00 million from preferred stock at a post-money valuation of $151.77 million under Regulation D.

81. Airobes, LLC (09/24/2025) - ROF - Debt - Convertible

Airobes, LLC initiated a convertible debt funding, targeting environmental and facilities services with plans for $0.25 million under Regulation D, including a first tranche of $0.05 million from two investors and a minimum investment of $5,000.00.

82. Red Rock Telecommunications, Inc. (09/25/2025) - ROF - Mature - >7 Yrs

Red Rock Telecommunications, Inc. initiated a mature funding round, targeting alternative carriers with plans for $10.00 million in common stock under Regulation D, including a first tranche of $0.44 million from five investors.

Capital Markets Segmentation — Glossary:

Equity Capital Markets

Follow-on: A public issuance of additional shares by a listed company to raise capital.
Convertible: Issuing equity-linked securities that can convert into common shares, blending debt and equity.

Debt Capital Markets

Non-convertible Debt: Fixed-income securities issued to raise capital, without equity conversion.
Preferred Equity: Shares with fixed dividends and priority over common equity, without conversion.

Rounds of Funding

Early Stage - Pre-Seed: Early startup investment for ideation or initial setup.
Early Stage - Crowdfunding: Raising small capital amounts from many investors via online platforms.
Early Stage - Seed: Initial startup investment for product development or market entry.
Venture - <5 Yrs: Early-stage investment in startups less than five years old for growth.
Mature - >7 Yrs: Capital raised by established companies over seven years old for expansion.
Debt - Convertible: Private debt that converts to equity, often for startups.
Debt - Non-Convertible: Private debt financing that doesn’t convert to equity, funding operations.

Q3 2025 | Arizona Debt, Equity & Venture Capital Insights

Q3 2025 | Arizona M&A Insights