I invested into a company called AutoTek, which was acquired by Alpine 4 Technologies (ALPP) that went IPO on January 17th, 2017 - I have held the stock certificate for over three years as a non-affiliate patiently waiting for their IPO to go through. They launched onto the OTC-XB market for $7.50 with a market capitalization of 162 million. At the current moment, TD Ameritrade's conservative risk analysis team informed me they are unable to accept the stock certificate and deposit my shares. AutoTek did not provide me with a subscription agreement or purchase agreement at the time of sale, and Alpine 4 instead included in their S4/Registration Statement that ALL AutoTek shareholders were acquired by the public body of Alpine4. I have witnessed other shareholders trading, so I do know there are brokerages who will accept the certificates. As well, ALPP will be DTC/DWAC compliant within 2 weeks of today, as I have been informed. So I am curious as to see if anyone has any wisdom on a Different brokerage who will be more lenient on their risk analysis for depositing physical stock certificates? Any wisdom is much appreciated!
Start calling them up and asking about your specific situation. Hard to generalize for cases like this, but yeah, brokers don't really want to deal with certificates anymore and that goes double for OTC ones. At least it's not (yet) a penny stock - they hate those.
Just to clarify, you had stock in company that no longer exists (autotek) and want to deposit it with a broker and them to magically make them Alpine4 shares for you? And let me guess, this is sub $100k, probably sub $10k worth of stock? You need to get Alpine4 shares from Alpine4 if you want to trade Alpine4 shares. You aren't going to find a broker to do all that work for you in exchange for the $5 commission they're gonna get out of you when you sell it.
Question 1). No - to clarify - Alpine 4 Technologies acquired Autotek and already released to me the new, updated shares in a stock certificate form. So, I currently hold the Alpine 4 Technologies stock certificate. I am attempting to have TD Ameritrade deposit the stock, but was denied the first time, and then they called me again and want to re-analyse my case...so now I will try again... Question 2.) No - the current conversion is not sub 100K or 10k, it is as follows: I own 150,000k shares of Alpine 4 technologies; the current price per share is trading at $6.50... Thank you for responding - I appreciate your time!
I appreciate your response - I will definitely keep doing my due diligence until I find a brokerage who will meet my needs. TD Ameritrade called me back and wants to re-analyse their risk analysis over my case...so I will give them another shot. The only issue with calling each place is I personally cannot get in touch with the certification department (legal & financial teams) without having an open account with my documentation in hand - so I have been told. So I will try the larger institutions who can afford to manage higher 'risks'.
Hello Lawson, Did you ever find a brokerage to take these physical shares? As I am in the same position Any information would be much appreciated Thank you