Legion M
Legion M is a fan-owned film company that has raised about $25 million from more than 60,000 investors since 2016, selling its own stock in eleven rounds at prices it sets, and since 2023 selling fans a share of individual films. Its filings show a loss every year, a going-concern warning, and film participations that have paid back 21% of the money raised so far; its two co-founders form the board and hold about 71% of the votes.
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Platform Identity
- Website
- legionm.com
- Headquarters
- Los Angeles, CA, United States
- Founded
- 2016
- Parent
- None. Legion M Entertainment, Inc. (Delaware C corporation, formed March 4, 2016) consolidates MDFZ, LLC, Fade to Black LLC and the Legion M Film Funds (1099 and K-1).
- Platform type
- Direct-Issuer Entertainment Company (Class A stock sold to fans under Reg CF, Reg A Tier 2 and Reg D; film-level participations and film funds sold under Reg CF and Reg D through third-party portals)
- Regulatory
- unregistered
- Eligibility
- retail
AltStreet Coverage
- Review status
- Published
- Coverage type
- Investment platform
- Review date
- Oct 15, 2026
- Last updated
- Oct 15, 2026
- Composite score
- 2.9
- Structural signals
- 4 total
Key Data Points
- EDGAR-linked offerings
- 4
- Filing-verified raised
- $22.06M
Reference Reading
AltStreet reference pages on the filings and mechanics behind this platform's category.
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