October 2026 disclosure coverage: what an offering-size filter leaves out

A filter requiring a usable numeric offering amount retains 3,114 of 5,780 October records (53.9%). It excludes 2,666 records (46.1%). This is a material change in the research sample before any offering-size threshold is applied.

Availability differs between notice types

“Usable” below means a nonnegative number stored in the field, including zero. It does not mean the original disclosure has been independently certified.

Submission class	Records	Numeric offering amount	Numeric amount sold	Numeric investor count
Initial notices	3,677	2,477 (67.4%)	3,677	3,677
Amendments	2,103	637 (30.3%)	2,103	2,103

The offering-amount field is numeric in 67.4% of initial notices, versus 30.3% of amendments. Requiring that field therefore changes the submission mix as well as reducing the sample. A filtered offering-size analysis should disclose this selection, rather than present the retained rows as the full month.

Unavailable numbers can reflect an indefinite source amount, an absent value or an extraction limitation. The stored blank alone does not identify the cause. Open the SEC source before assigning one, and do not convert the blank to zero.

Numeric zero is a different observation

October includes 1,106 records with reported amount sold stored as zero (19.1%), and 1,098 with investor count stored as zero. These records remain numeric for availability purposes. The counts concern fields, not a verified number of unsuccessful offerings. A zero disclosure does not establish an issuer's lifetime proceeds or current financing status.

Both amount sold and investor count are numeric in all 5,780 stored October records. That is a description of database values, not proof that the dataset contains every SEC filing or that every extracted value is correct.

Two checked source examples

BigHat's October 26 disclosure reports $79,999,947 offered, $75,141,086 sold and 29 investors. Tenora's October 30 amendment reports $10,000,000 offered, $1,500,000 sold and 14 investors. These fields, submission types and CIKs were checked against the original SEC XML. They are separate issuers, not an amendment chain or a combined fundraising total.

Use the field interpretation guide before calculating with amounts. For an issuer-specific question, the change viewer preserves missing values and shows source links; it does not certify that two filings concern one offering.

Scope and reproduction

This note uses a frozen production snapshot captured 2026-11-01T20:05:09.641805+00:00. October means filing dates October 1–31, 2026; September means September 1–30. The database's latest available filing date at capture was October 30. A completed calendar month is not a certification of complete SEC coverage. Counts may differ from the live tools after later imports or corrections.

The unit is a unique stored accession with a nonblank issuer name. Issuers are distinct stored CIKs, not brands, offerings or fund families. A record is an amendment when the submission type is D/A or its extracted amendment flag is true. Missing or negative financial fields are unavailable; zero remains a numeric observation. No offered or sold amounts are summed.

Download the exact aggregate snapshot and definitions. The deterministic calculation is month_snapshot in filings/research_publication.py in the public source repository. See coverage, methodology, and corrections for limitations and feedback.