How It Works For Operators Raise Capital For Investors Marketplace Our Story Get Started
HNDM $34.80 +3.6%
LCWF $22.10 -0.5%
LMNT $42.50 +4.2%
PRDO $28.75 +1.8%
BBQK $15.20 -0.9%
SLSA $67.00 +2.3%
RVRA $88.25 +5.1%
TKYO $11.40 -1.4%
TQLA $19.90 +1.1%
HNDM $34.80 +3.6%
LCWF $22.10 -0.5%
LMNT $42.50 +4.2%
PRDO $28.75 +1.8%
BBQK $15.20 -0.9%
SLSA $67.00 +2.3%
RVRA $88.25 +5.1%
TKYO $11.40 -1.4%
TQLA $19.90 +1.1%

⚠ PROTOTYPE — NOT A LIVE OFFERING: All restaurant listings, securities, prices, and marketplace data shown are illustrative and fictional — for demonstration only. No securities are being offered or sold. Live offerings will be conducted through formal SEC-exempt documents executed by Netshares Financial Services, LLC (CRD #307532), a FINRA-registered broker-dealer.

Built by Operators. For Operators.

OWN A
PIECE OF
WHAT YOU
LOVE.

The first restaurant securities marketplace built by someone who started a restaurant, franchised a brand to 28 locations, and opened 6 stores himself — then got a FINRA broker-dealer license to fix what was broken.

Live Marketplace Trading Open
🥩
Handam BBQ
Houston, TX · Korean BBQ
$34.80
per share
+3.6%
🦞
LA Crawfish Katy
Katy, TX · Cajun Seafood
$22.10
per share
−0.5%
🍕
La Mente Pizzeria
Houston, TX · Italian
$42.50
per share
+4.2%
🥩
Perdomo's Steakhouse
Austin, TX · American
$28.75
per share
+1.8%
$2.4M
Capital
Raised
847
Active
Investors
6.8%
Avg Quarterly
Yield

All securities executed by Netshares Financial Services, LLC · FINRA/SIPC · CRD #307532

🏛️

All securities executed by Netshares Financial Services, LLC (CRD #307532) — a FINRA-registered broker-dealer and SIPC member. Full KYC/AML on every investor. Verify on BrokerCheck →

Live Marketplace

Restaurant Securities.

Browse active listings, review financials, and place orders. All trades routed through PPEX ATS via Netshares Financial Services, LLC. Prices update in real time.

9 securities
The Process

From first bite to first share.

RestaurantShares is a technology platform. All securities transactions are facilitated by Netshares Financial Services, LLC (CRD #307532), a FINRA-registered broker-dealer and SIPC member.

01
📋

Operator Applies

We curate carefully — not every concept qualifies. Our founder has opened, franchised, and exited restaurants himself. He knows what good looks like.

02
⚖️

Structure the Offering

Reg D for accredited investors, Reg CF for community raises up to $5M, Reg A+ up to $75M. All securities executed by Netshares Financial Services, LLC.

03
🤝

Community Invests

Customers, neighbors, fellow operators, and accredited investors invest online. Full KYC, accreditation, and AML compliance handled end-to-end.

04
📈

Trade on PPEX

Securities list on PPEX ATS — a regulated Alternative Trading System operated by North Capital Private Securities Corp — creating real secondary market liquidity.

The Problem We're Solving

Restaurant ownership is broken.
For everyone.

The restaurant industry generates over $1 trillion annually in the U.S. — and yet both sides of the table are stuck. Operators can't access fair capital. Investors can't access the deals. RestaurantShares changes both.

For Restaurant Operators

Capital is the wall between a great concept and a great business.

You've built something real. Loyal customers. Consistent revenue. Proven food. But when it's time to grow, renovate, or weather a slow season — the options are brutal.

🏦
Banks say no.

Restaurant loans require collateral most operators don't have, personal guarantees, and a process that takes months — by which time the lease is gone.

💸
Revenue-based lenders charge 40–80% effective APRs.

Daily ACH pulls that drain your cash flow before you can invest in the business. Many operators take these deals out of desperation — and spend two years digging out.

🤝
Private equity wants control.

If you're lucky enough to attract a PE partner, they'll want a board seat, veto rights, and an exit timeline that doesn't fit how you run a restaurant.

📈
The valuation gap is real — and unfair.

Public restaurant companies trade at 20–40× EBITDA. Your restaurant — same revenue, same margins, same loyal customers — trades at 4–6× because there's no liquidity. We're here to fix that.

RestaurantShares gives operators a new option. Issue securities to your customers and investors — on terms you control, at valuations that reflect your actual business, without handing over the keys.
For Investors

You've always wanted in. The door was never open.

Everyone knows a restaurant they believe in. A spot they've been going to for years. An operator they'd bet on. But investing in it? Until now, that required one of two things — neither of which was accessible to most people.

💰
Write a very large check.

Private restaurant deals historically required $50K–$500K minimum investments — limited to the owner's personal network. No transparency. No formal offering documents. No secondary market to exit.

🤚
Know the right people.

Even accredited investors rarely had access to restaurant deals unless personally connected. There was no marketplace, no due diligence, no standardized structure — word of mouth or nothing.

🔒
Accept being locked in forever.

Even if you got into a deal, there was no secondary market. No way to exit. Your capital was tied up indefinitely — until a sale, or a closure. Most investors said no for this reason alone.

🚫
Non-accredited investors were locked out entirely.

If you didn't meet the $200K income or $1M net worth threshold, private restaurant investment simply wasn't available to you — no matter how well you knew the operator.

RestaurantShares opens the door. Community investors can participate from $100 via Reg CF. Accredited investors get full access with immediate secondary trading on PPEX. Everyone gets a regulated, transparent, documented offering — not a handshake deal.

"The best restaurant investments in America are sitting right in front of everyday investors. They just need a regulated, transparent way to access them."

— David Lee, Founder · RestaurantShares & Netshares Financial Services, LLC (CRD #307532)

I'm an Operator I'm an Investor
For Restaurant Operators

Close the liquidity
premium gap.

Public restaurant companies trade at 20–40× EBITDA. Private restaurants trade at 4–6×. That gap isn't about business quality — it's about liquidity. RestaurantShares creates that liquidity through PPEX secondary trading. RestaurantShares creates that liquidity premium for restaurant investors, with the added advantage of operating business cash flow.

Traditional Private
4–6×
4–6×
With RestaurantShares
8–14×
8–14×
Public Market
20–40×
20–40×
Schedule an Operator Call
28
Franchise locations our founder helped develop at LA Crawfish
$75M
Maximum raise under Reg A+ — open to all investors
1K+
Securities currently trading on PPEX ATS secondary market
Capital Structures

Choose how you raise.

Every restaurant is different. RestaurantShares offers five security structures — from simple debt to full equity — each with its own cost of capital, investor profile, and liquidity characteristics. We help you pick the right tool for your business.

🏦
Senior Secured Debt
Lowest Cost · Fixed Rate · Priority Repayment
+

A loan from your investor base — fixed interest rate, defined maturity, and priority claim on repayment. No dilution of ownership. Ideal for operators who have stable cash flow, need capital for a specific purpose (build-out, equipment, working capital), and want to preserve their equity.

Typical Rate8–14% annually
Term12–60 months
PaymentsMonthly or quarterly interest
Ownership ImpactNone — no equity dilution
Best ForEstablished operators, build-outs, equipment
✓ Cheapest cost of capital · ✓ Retain 100% ownership · ✓ Fixed repayment schedule you can model · ✓ PPEX secondary market creates investor liquidity at close
📊
Revenue Share Note
Flexible Payments · No Fixed Maturity · Cash-Flow Aligned
+

Investors receive a defined percentage of your gross monthly or quarterly revenue until they reach a capped return (typically 1.2–1.5× their investment). Payments flex with your business — lower in slow seasons, higher when you're busy. No ownership dilution, no fixed maturity date.

Investor Return% of gross revenue (e.g. 3–8%)
Return Cap1.2×–1.5× principal
PaymentsMonthly from gross revenue
Ownership ImpactNone — no equity dilution
Best ForSeasonal concepts, community raises, Reg CF
✓ Payments flex with revenue — no fixed cash drain · ✓ Ideal for Reg CF community raises · ✓ Simple for investors to understand · ✓ PPEX secondary market from close
Preferred Equity
Most Popular · Priority Distributions · Valuation Upside
+

Investors hold preferred shares with priority over common equity in distributions and liquidation. You set a fixed preferred return (typically 6–10% annually paid quarterly), and investors participate in any upside on exit. The most commonly used structure on RestaurantShares — balances investor appeal with operator control.

Preferred Return6–10% annually
DistributionsQuarterly (from operating cash flow)
LiquidationPriority over common equity
Ownership ImpactPartial dilution — preferred class only
Best ForGrowth raises, Reg A+, accredited investors
✓ Highest investor demand on PPEX · ✓ You retain common equity and operational control · ✓ Quarterly distributions signal financial health · ✓ Immediate PPEX liquidity creates valuation premium
🔄
Convertible Note
Bridge Capital · Defers Valuation · Converts at Next Round
+

Debt that converts into equity at a future fundraising round or exit event — typically at a discount to the next round price (e.g. 20% discount) with a valuation cap. Ideal when you need capital now but don't want to set a firm valuation yet. Investors earn interest until conversion.

Interest Rate4–8% (accrues until conversion)
Conversion TriggerNext equity round, PPEX listing, or maturity
Investor Discount15–25% on conversion price
Valuation CapProtects early investors from dilution
Best ForPre-revenue, early stage, bridge to Reg A+
✓ Raise now, set valuation later · ✓ Simpler docs than equity rounds · ✓ Investors rewarded for early risk via discount · ✓ Converts cleanly ahead of PPEX secondary listing
🏛️
Common Equity
Full Ownership Stake · Highest Upside · Long-Term Alignment
+

Investors buy actual ownership shares in your restaurant entity — the same class of equity you hold. Full participation in profits, distributions, and any future sale or liquidity event. Best suited for established multi-location concepts raising larger rounds where investors want a direct stake in the business.

DistributionsPro-rata share of net profits
Voting RightsTypically non-voting (operator retains control)
Exit ParticipationFull pro-rata on sale or liquidation
Ownership ImpactDirect dilution — highest investor appeal
Best ForMature concepts, Reg A+, multi-location brands
✓ Creates the strongest investor alignment · ✓ Highest PPEX secondary market valuations · ✓ No fixed repayment obligation · ✓ Investors become brand evangelists and loyal customers
Why PPEX Secondary Liquidity Changes Everything
📈
Valuation Premium

Securities with a secondary market command 2–4× higher valuations than identical illiquid investments. Liquidity is worth money.

🧲
Broader Investor Base

Investors who wouldn't touch an illiquid private deal will invest when they know they can exit. PPEX expands your pool dramatically.

💰
Lower Cost of Capital

Liquidity reduces risk for investors — which means they accept lower returns. Your cost of capital drops when investors aren't locked in forever.

🔁
Re-raise Ready

A live PPEX price gives you a market-based valuation for your next round — no more negotiating in the dark against stale comps.

For Investors

Own a piece of what
you already love.

RestaurantShares lets you own securities in the restaurants you love — with the added benefit of real operating cash flow and quarterly distributions. This page explains exactly what participation means, what you own, and what liquidity looks like in plain language.

Who Can Invest

🍽️

Community Investors

Any U.S. resident 18 or older can invest in restaurants raising under Regulation CF or Regulation A+. No special credentials required — just a verified identity and a bank account.

  • Minimum investments as low as $100 on eligible Reg CF offerings
  • Investment limits apply based on your annual income and net worth (see below)
  • Full KYC identity verification required through Netshares Financial Services
  • Distributions paid directly to your bank account on eligible securities
  • 12-month holding period applies before secondary trading on Reg CF securities
Reg CF Investment Limits (per 12 months, across all Reg CF platforms)
Income or net worth under $124,000Greater of $2,500 or 5% of lesser of income/net worth
Both income and net worth ≥ $124,00010% of lesser of annual income or net worth, max $124,000
💼

Accredited Investors

Accredited investors have full access to all offering types — Reg D, Reg CF, and Reg A+ — with no investment caps and immediate secondary market access on PPEX after close.

  • Individual: $200K+ annual income (or $300K joint) for past 2 years with expectation of same
  • Individual: $1M+ net worth, excluding primary residence, individually or jointly
  • Entity: $5M+ in assets, or all equity owners are individually accredited
  • Certain license holders (Series 7, 65, or 82) qualify automatically
  • No investment cap — invest at any level per offering terms
Accreditation is self-certified and verified by Netshares Financial Services, LLC prior to investment.
🤝

Peer Operators

Fellow restaurant owners who understand the business from the inside. If you've operated, franchised, or consulted in the restaurant industry, you bring a unique edge to evaluating these investments.

  • Access to David Lee's 30+ year operator and franchise network
  • Ability to co-invest in concepts you know from a ground-level perspective
  • Operator-to-operator referrals, supplier relationships, and best practices
  • Franchise capital opportunities from trusted, vetted brands
  • PPEX secondary market access for ongoing portfolio management

What You Actually Own

Each security type gives you a different relationship with the restaurant. Here's what each one means in plain language — and what you should expect in return.

🏦
Senior Secured Debt
Lender · Fixed Return · First in Line

You are acting as a lender to the restaurant. You receive fixed interest payments on a defined schedule, and your principal is returned at maturity. In a liquidation, you are paid before equity holders. You do not share in profits beyond your fixed rate — but you also bear less risk than equity investors.

What you receiveFixed interest (8–14% typical) + principal at maturity
Payment scheduleMonthly or quarterly interest payments
Upside participationNone — capped at agreed interest rate
Priority on liquidationFirst priority over equity holders
Relative Risk
Lower
📊
Revenue Share Note
Revenue Partner · Flexible Returns · Community-First

You receive a percentage of the restaurant's gross revenue every month or quarter until you reach a capped return (typically 1.2–1.5× your investment). Payments go up in good months and slow in slow seasons — they flex with the business. You are not an equity owner and do not share in profits beyond the cap.

What you receive% of gross revenue until return cap is hit
Return capTypically 1.2×–1.5× your invested principal
Payment scheduleMonthly from gross revenue (flex with sales)
Upside participationNone beyond the cap
Relative Risk
Low–Medium
Preferred Equity
Most Popular · Priority Distributions · Upside on Exit

You hold preferred shares — a class of ownership with priority over common equity holders for distributions and in liquidation. You receive a set preferred return (typically 6–10% annually paid quarterly) before common equity holders receive anything. If the restaurant sells or achieves a liquidity event, preferred holders are paid out first.

What you receivePreferred distributions (6–10% typical) + exit proceeds
Payment scheduleQuarterly from operating cash flow
Priority on liquidationBefore common equity, after debt
Upside participationPro-rata on exit above preferred threshold
Relative Risk
Medium
🔄
Convertible Note
Early-Stage · Converts to Equity · Discount Reward

You start as a lender earning interest, but your note converts into equity at a future event — typically the restaurant's next fundraising round, a PPEX listing, or the note maturity date. You receive a discount (typically 15–25%) on the conversion price as a reward for investing early and accepting more uncertainty.

What you receiveInterest until conversion, then equity at a discount
Conversion discount15–25% off next-round price
Valuation capProtects you from dilution if valuation rises
Upside participationFull equity upside post-conversion
Relative Risk
Medium–High
🏛️
Common Equity
Ownership Stake · Highest Upside · Full Risk

You own an actual equity stake in the restaurant — the same class as the founder. You participate in profits, distributions, and any future sale. Common equity holders are paid last in a liquidation, after all debt and preferred equity. This is the highest risk and highest potential return security type.

What you receivePro-rata share of net profits and exit proceeds
Voting rightsTypically non-voting (operator retains control)
Priority on liquidationLast — after all debt and preferred equity
Upside participationUnlimited — full pro-rata on sale or IPO
Relative Risk
Higher

How Liquidity Works — and What It Doesn't Guarantee

This is one of the most important things to understand before you invest. RestaurantShares provides access to a secondary market — but secondary market trading is not guaranteed. Read this section carefully.

🔓 What PPEX Secondary Trading Is

After a restaurant completes its primary offering and closes, securities may be listed on the PPEX Alternative Trading System (ATS), operated by North Capital Private Securities Corporation, an independent FINRA-registered broker-dealer. PPEX is a regulated marketplace where existing investors can list their securities for sale, and other investors can purchase them — creating a secondary market.

All secondary trades are executed by Netshares Financial Services, LLC (CRD #307532) as executing broker and settle on a T+2 basis (two business days after the trade date). Vertalo, a registered transfer agent, handles the digital transfer of securities ownership.

  • Provides a mechanism for investors to sell before a business exit event
  • Creates a real-time market price for your securities
  • Allows new investors to purchase secondary shares after the primary close
  • Trades execute at agreed prices between buyer and seller
⚠️ What PPEX Does NOT Guarantee

The existence of PPEX listing is not a guarantee of liquidity. Secondary trading requires a willing buyer and a willing seller — both must agree on a price. There is no market maker. There is no obligation for anyone to purchase your securities.

In practice, secondary markets for private restaurant securities are thin — trading volume is typically low and there may be extended periods where no buyers are available. You should invest only in securities you are prepared to hold indefinitely.

  • No guarantee that you will find a buyer for your securities
  • No guaranteed price — secondary market values fluctuate
  • Low trading volume is common and should be expected
  • You may not be able to sell when you want or at the price you want
  • Reg CF securities have a mandatory 12-month holding period before any secondary trading
  • Listing on PPEX does not mean the securities have been approved or endorsed by any regulator
Typical Liquidity Timeline
1
Primary Offering Opens
Reg D, Reg CF, or Reg A+. You invest. Securities are issued and recorded by Vertalo.
2
Offering Closes
Funds released to operator. Reg CF investors enter mandatory 12-month hold period.
3
PPEX Listing (if eligible)
Securities listed on PPEX ATS. You may place ask orders. Reg D investors can trade immediately; Reg CF after 12-month hold.
4
Secondary Trade (if buyer found)
Trade executes through Netshares Financial Services. Settles T+2. Ownership transfers via Vertalo.
5
Business Exit / Liquidity Event
Sale, merger, or other exit. Proceeds distributed per the security's terms — debt and preferred first, then common equity.

Investor Protections & Rights

🔍
Disclosure Requirements

All issuers must provide formal offering documents — a Private Placement Memorandum (Reg D), Form C (Reg CF), or Offering Circular (Reg A+) — that contain audited or reviewed financials, risk factors, use of proceeds, and management background. You have the right to review all offering documents before investing.

📋
Ongoing Reporting

Reg CF and Reg A+ issuers are required to file ongoing reports with the SEC. You have access to annual progress reports for the life of your investment. Reg D issuers provide reporting as specified in the offering documents.

🛡️
Regulated Broker-Dealer

All transactions are executed by Netshares Financial Services, LLC (CRD #307532), a FINRA-registered broker-dealer and SIPC member. FINRA oversight means your transaction is subject to rules around suitability, best execution, and recordkeeping. You can file complaints with FINRA if needed.

KYC & AML Compliance

Every investor is verified through Alloy-powered KYC (Know Your Customer) and ComplyAdvantage AML (Anti-Money Laundering) screening before any investment is accepted. This protects the integrity of the marketplace and your co-investors.

⚖️
FINRA Arbitration

Disputes with Netshares Financial Services, LLC are subject to FINRA arbitration — a regulated, neutral dispute resolution process. This is a standard protection afforded to all customers of FINRA-member broker-dealers.

📞
Right to Cancel

Under Reg CF, investors have the right to cancel their investment commitment up to 48 hours before the offering deadline. If material changes occur to the offering, you will be notified and given the opportunity to reconfirm or cancel.

Browse Marketplace Talk to Our Team →
David Lee — Founder, RestaurantShares
David Lee Founder · RestaurantShares & Netshares Financial Services, LLC
Our Story

Built from
the inside out.

David Lee didn't learn about restaurants in a boardroom. He built one. He franchised one to 28 locations. He personally opened 6 stores. And then he saw a problem he couldn't ignore: independent restaurant operators had terrible capital options.

Banks won't lend. Revenue-based lenders charge predatory rates. Private equity wants control. And none of them create the liquidity premium that public companies enjoy. So David got a FINRA broker-dealer license and founded Netshares Financial Services to power RestaurantShares.

RestaurantShares is a technology marketplace — the first of its kind built specifically for independent restaurants. It combines operating cash flow, quarterly distributions, and a founder who has operated restaurants at every level.

30+ Yrs

Restaurant Operations Career

Deep expertise in restaurant operations, management, and franchise development across the Houston market and beyond.

Handam

Founded & Exited Handam BBQ

Built a Korean BBQ concept in Houston from scratch and successfully exited — understanding firsthand what investors and buyers look for.

LA Crawfish

28 Franchises · 6 Locations Developed

Franchise consultant under All Star Franchise who helped scale LA Crawfish to 28 locations. Personally opened and operated 6 stores.

Netshares

FINRA BD License — CRD #307532

Founded Netshares Financial Services, LLC as the regulated broker-dealer infrastructure powering RestaurantShares.

2026

RestaurantShares Launches

The first secondary securities marketplace purpose-built for independent restaurants — by a founder who has been on both sides of the table.

Frequently Asked Questions

Your questions,
answered.

Common questions about investing in restaurant securities, how the platform works, and what to expect.

RestaurantShares is a technology marketplace that lets investors buy and trade securities in local restaurants. RestaurantShares is a technology platform only, not a broker-dealer. All securities transactions are executed by Netshares Financial Services, LLC (CRD #307532), a FINRA-registered broker-dealer and SIPC member.

Yes. Restaurants that raise under Regulation CF are open to all U.S. investors 18 and older — with investment limits based on annual income and net worth. Minimum investments can start as low as $100. Reg A+ offerings are also open to all investors with raises up to $75M. Only Reg D offerings are limited to accredited investors.

PPEX is an SEC-registered Alternative Trading System (ATS) operated by North Capital Private Securities Corporation, a FINRA-registered broker-dealer. After a restaurant closes its primary offering, shares can be listed on PPEX so investors can buy and sell with each other. Trades are executed by Netshares Financial Services, LLC and settle T+2. Reg CF investors must hold shares for 12 months before trading. PPEX is an independent third party — not affiliated with RestaurantShares.

No — RestaurantShares is a technology platform, not a registered broker-dealer. The FINRA-registered BD is Netshares Financial Services, LLC (CRD #307532), a SIPC member based in Katy, TX. Netshares handles all regulatory compliance, KYC, AML, accreditation verification, and securities execution. You can verify Netshares at FINRA BrokerCheck.

RestaurantShares features four security types: Preferred Equity (priority distributions, senior to common), Revenue Share Notes (distributions as a % of gross revenue), Common Equity (ownership stake), and Senior Debt (fixed rate, priority repayment). All securities are digitally issued and tracked by Vertalo, a registered transfer agent.

Restaurant investment is high-risk. Approximately 60% of restaurants close within year one and 80% within five years. You could lose your entire investment. Securities are illiquid — secondary trading requires willing buyers and sellers. Distributions are not guaranteed. These investments are not suitable for investors who cannot afford total loss. Please review all offering documents carefully before investing.

Traditional bank loans require collateral, personal guarantees, and restrict use of funds. Restaurant securities on RestaurantShares don't require traditional loan repayment schedules — depending on the structure, investors share in upside through equity appreciation and distributions. Operators retain operational control while accessing a broader, more aligned investor base. Securities also create a market valuation that traditional debt does not.

Get Started

Let's talk.

Whether you're an operator ready to raise, an investor ready to own a piece of your community, or a partner — we respond within one business day.

Send us a message

A member of our team will respond within one business day.

By submitting you agree to receive communications from RestaurantShares. We never share your information.

Message Received!

Thank you. A member of our team will be in touch within one business day.

🧑‍🍳 Restaurant Operators

Ready to raise growth capital? We'll review your financials and tell you honestly what raise structure makes sense for your business.

[email protected]

💼 Investors

Interested in investing in restaurant securities? We'll walk you through active offerings and account verification.

[email protected]

🤝 Partners & Press

Strategic partnerships, BD relationships, or media inquiries — reach out directly.

[email protected]

Important: RestaurantShares is a technology platform, not a registered broker-dealer. All securities transactions are facilitated by Netshares Financial Services, LLC (CRD #307532), a FINRA-registered BD and SIPC member. Check our BD's background at FINRA BrokerCheck.

⚠ Prototype & Development Phase Disclosure

THIS WEBSITE IS A PROTOTYPE AND IS NOT CURRENTLY OFFERING SECURITIES. All restaurant listings, securities, prices, tickers, financial data, investor counts, and marketplace activity shown on this website are illustrative and fictional — created for demonstration and development purposes only. They do not represent real companies, actual securities, live offerings, or genuine investment opportunities. No money is being solicited or accepted. No securities are being offered or sold. When RestaurantShares launches live offerings, they will be conducted exclusively through formal offering documents (Private Placement Memorandum, Form C, or Offering Circular) filed with or exempt from the U.S. Securities and Exchange Commission, and all transactions will be executed by Netshares Financial Services, LLC (CRD #307532), a FINRA-registered broker-dealer and SIPC member.

Important Legal Disclosures

About RestaurantShares: RestaurantShares is a technology platform that connects restaurant operators seeking capital with investors. RestaurantShares is not a registered broker-dealer, investment advisor, or FINRA member. RestaurantShares does not provide investment advice, does not execute securities transactions, and does not hold customer funds or securities. RestaurantShares operates as a technology intermediary — connecting issuers and investors through regulated third-party broker-dealers.

About Netshares Financial Services, LLC: All securities transactions facilitated through the RestaurantShares platform are executed by Netshares Financial Services, LLC (CRD #307532), a registered broker-dealer and member of FINRA and SIPC, based in Katy, Texas. Netshares Financial Services, LLC is responsible for all regulatory compliance, investor KYC/AML verification, accreditation, subscription processing, and securities execution. You may check the background of Netshares Financial Services, LLC on FINRA's BrokerCheck. Netshares Financial Services, LLC and RestaurantShares are affiliated entities under common ownership.

About PPEX ATS and North Capital Private Securities Corporation: Secondary market trading for securities listed on RestaurantShares is facilitated through the PPEX Alternative Trading System (ATS), operated by North Capital Private Securities Corporation, a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a member of FINRA and SIPC. PPEX is a SEC-registered ATS under Rule 301 of Regulation ATS. North Capital and PPEX are independent third parties — not affiliated with RestaurantShares, LLC or Netshares Financial Services, LLC. Secondary trading on PPEX is available only after the primary offering period has closed. Reg CF investors are subject to a mandatory 12-month holding period before shares may be transferred or sold. Secondary market liquidity is not guaranteed — the availability of buyers and sellers varies and there may be periods of low or no trading activity. All secondary trades are executed by Netshares Financial Services, LLC as executing broker and settle on a T+2 basis via Vertalo's digital transfer agent infrastructure. North Capital's background may be verified at FINRA BrokerCheck.

Risk Disclosure: Investing in private securities involves significant risk, including the possible loss of your entire investment. Restaurant businesses have a high rate of failure — approximately 60% close within their first year and 80% within five years. Private securities are illiquid. Secondary trading on PPEX requires willing buyers and sellers and is not guaranteed. Distributions depend on business performance and are not guaranteed. Past performance is not indicative of future results. Investment limits apply to non-accredited investors under Reg CF. This platform is not suitable for investors who cannot afford to lose their entire investment. This website does not constitute an offer to sell or a solicitation of an offer to buy any security. © 2026 RestaurantShares. All rights reserved.

Prototype — No Live Offerings
RestaurantShares is NOT a Registered BD
Securities by Netshares Financial Services · FINRA/SIPC · CRD #307532
Reg D · Reg CF · Reg A+
PPEX ATS · North Capital
Not FDIC Insured · Investment Risk Applies
✓ Order submitted to PPEX ATS