FORM D
Notice of Exempt Offering of Securities

UNITED STATES SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C.

OMB APPROVAL
OMB Number: 3235-0076
Estimated Average burden hours per response: 4.0
1. Issuer's Identity
CIK (Filer ID Number)Previous Name(s)Checkbox checkedNoneEntity Type
0001365495
Radio button not checkedCorporation
Radio button not checked Limited Partnership
Radio button not checked Limited Liability Company
Radio button not checked General Partnership
Radio button not checked Business Trust
Radio button checkedOther
Cayman Islands Exempted Company
 
Name of Issuer
 IRONWOOD INSTITUTIONAL LTD
Jurisdiction of Incorporation/Organization
CAYMAN ISLANDS 
Year of Incorporation/Organization
Radio button checkedOver Five Years Ago
Radio button not checkedWithin Last Five Years (Specify Year)
 
Radio button not checkedYet to Be Formed
 
  
  
 
2. Principal Place of Business and Contact Information
Name of Issuer
 IRONWOOD INSTITUTIONAL LTD
Street Address 1Street Address 2
 Maples Corporate Services Limited
 Ugland House, South Church Street
CityState/Province/CountryZIP/Postal CodePhone No. of Issuer
 Grand Cayman
 CAYMAN ISLANDS
 
 KY1-1104
 345-945-8066 



3. Related Persons

Last NameFirst NameMiddle Name
Ironwood Capital Management
n/a
Street Address 1Street Address 2
 One Market Plaza, Steuart Tower 
 Suite 2500
CityState/Province/CountryZIP/Postal Code
 San Francisco
 CALIFORNIA
 94105
 
Relationship:Checkbox checkedExecutive OfficerCheckbox not checkedDirectorCheckbox not checkedPromoter
Clarification of Response (if Necessary)
Investment Manager


Last NameFirst NameMiddle Name
Gans
Jonathan
Street Address 1Street Address 2
 Ironwood Capital Management 
 One Market, Steuart Tower, Suite 2500
CityState/Province/CountryZIP/Postal Code
 San Francisco
 CALIFORNIA
 94105
 
Relationship:Checkbox not checkedExecutive OfficerCheckbox checkedDirectorCheckbox not checkedPromoter
Clarification of Response (if Necessary)
 


Last NameFirst NameMiddle Name
Cater
Phillip
Street Address 1Street Address 2
 International Management Services Ltd. 
 Harbour Centre
CityState/Province/CountryZIP/Postal Code
 George Town, Grand Cayman
 CAYMAN ISLANDS
 KY1-1102
 
Relationship:Checkbox not checkedExecutive OfficerCheckbox checkedDirectorCheckbox not checkedPromoter
Clarification of Response (if Necessary)
 


Last NameFirst NameMiddle Name
Van Vuuren
Ruan
Street Address 1Street Address 2
 International Management Services Ltd. 
 Harbour Centre
CityState/Province/CountryZIP/Postal Code
 George Town, Grand Cayman
 CAYMAN ISLANDS
 KY1-1102
 
Relationship:Checkbox not checkedExecutive OfficerCheckbox checkedDirectorCheckbox not checkedPromoter
Clarification of Response (if Necessary)
 




4. Industry Group
 Radio button not checkedAgriculture
Banking & Financial Services
 Radio button not checked Commercial Banking
 Radio button not checked Insurance
 Radio button not checkedInvesting
 Radio button not checked Investment Banking
 Radio button checked Pooled Investment Fund

*Is the issuer registered as an investment company under the Investment Company Act of 1940?
Radio button not checked Yes  Radio button checkedNo
 Radio button not checkedOther Banking & Financial Services
Radio button not checked Business Services
Energy
 Radio button not checked Coal Mining
 Radio button not checked Electric Utilities
 Radio button not checked Energy Conservation
 Radio button not checked Environmental Services
 Radio button not checked Oil & Gas
 Radio button not checked Other Energy
Health Care
 Radio button not checked Biotechnology
 Radio button not checked Health Insurance
 Radio button not checked Hospitals & Physicians
 Radio button not checked Pharmaceuticals
 Radio button not checked Other Health Care
   
   
   
  
Radio button not checked Manufacturing
Real Estate
 Radio button not checkedCommercial
 Radio button not checkedConstruction
 Radio button not checkedREITS & Finance
 Radio button not checkedResidential
Radio button not checkedOther Real Estate
Radio button not checked Retailing
Radio button not checkedRestaurants
Technology
Radio button not checked Computers
Radio button not checked Telecommunications
Radio button not checked Other Technology
Travel
Radio button not checked Airlines & Airports
Radio button not checked Lodging & Conventions
Radio button not checked Tourism & Travel Services
Radio button not checked Other Travel
Radio button not checkedOther

  
   
5. Issuer Size
Revenue RangeAggregate Net Asset Value Range
Radio button not checkedNo RevenuesRadio button not checked No Aggregate Net Asset Value
Radio button not checked $1 - $1,000,000Radio button not checked$1 - $5,000,000
Radio button not checked $1,000,001 - $5,000,000Radio button not checked $5,000,001 - $25,000,000
Radio button not checked$5,000,001 - $25,000,000Radio button not checked $25,000,001 - $50,000,000
Radio button not checked$25,000,001 - $100,000,000Radio button not checked $50,000,001 - $100,000,000
Radio button not checked Over $100,000,000Radio button not checked Over $100,000,000
Radio button not checked Decline to Disclose Radio button checkedDecline to Disclose
Radio button not checked Not ApplicableRadio button not checked Not Applicable

 
6. Federal Exemption(s) and Exclusion(s) Claimed (select all that apply)
Checkbox not checkedRule 504(b)(1) (not (i), (ii)
or (iii))		Checkbox checkedRule 506(b)      
Checkbox not checkedRule 504 (b)(1)(i) Checkbox not checkedRule 506(c)
Checkbox not checkedRule 504 (b)(1)(ii) Checkbox not checkedSecurities Act Section 4(a)(5)
Checkbox not checkedRule 504 (b)(1)(iii)Checkbox checkedInvestment Company Act Section 3(c)
Checkbox not checkedSection 3(c)(1)Checkbox not checkedSection 3(c)(9)
Checkbox not checkedSection 3(c)(2)Checkbox not checkedSection 3(c)(10)
Checkbox not checkedSection 3(c)(3)Checkbox not checkedSection 3(c)(11)
Checkbox not checkedSection 3(c)(4)Checkbox not checkedSection 3(c)(12)
Checkbox not checkedSection 3(c)(5)Checkbox not checkedSection 3(c)(13)
Checkbox not checkedSection 3(c)(6)Checkbox not checkedSection 3(c)(14)
Checkbox checkedSection 3(c)(7)
 
 

7. Type of Filing
Checkbox not checked New Notice Date of First Sale 
2006-05-01
Checkbox not checked First Sale Yet to Occur
Checkbox checked Amendment


 
 
8. Duration of Offering
Does the Issuer intend this offering to last more than one year? Radio button checked Yes Radio button not checked No
 
 
9. Type(s) of Securities Offered (select all that apply)
Checkbox checkedPooled Investment Fund InterestsCheckbox not checkedEquity
Checkbox not checkedTenant-in-Common Securities Checkbox not checkedDebt
Checkbox not checkedMineral Property SecuritiesCheckbox not checkedOption, Warrant or Other Right to Acquire Another Security
Checkbox not checkedSecurity to be Acquired Upon Exercise of Option, Warrant or Other Right to Acquire SecurityCheckbox not checkedOther (describe)
 
 
 
10. Business Combination Transaction
Is this offering being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer? Radio button not checked Yes Radio button checked No
Clarification of Response (if Necessary)
 
 
 
11. Minimum Investment
Minimum investment accepted from any outside investor$
 250000
USD

12. Sales Compensation
Recipient Recipient CRD NumberCheckbox not checkedNone
 City National Securities, Inc.
 103705
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
400 North Roxbury Drive
Suite 700
City State/Province/CountryZIP/Postal Code
 Beverly Hills
 CALIFORNIA
 90210
State(s) of SolicitationCheckbox not checkedAll StatesCheckbox not checkedForeign/Non-US
 
ALABAMA
ALASKA
ARIZONA
ARKANSAS
CALIFORNIA
COLORADO
CONNECTICUT
DELAWARE
DISTRICT OF COLUMBIA
FLORIDA
GEORGIA
HAWAII
IDAHO
ILLINOIS
INDIANA
IOWA
KANSAS
KENTUCKY
LOUISIANA
MAINE
MARYLAND
MASSACHUSETTS
MICHIGAN
MINNESOTA
MISSISSIPPI
MISSOURI
MONTANA
NEBRASKA
NEVADA
NEW HAMPSHIRE
NEW JERSEY
NEW MEXICO
NEW YORK
NORTH CAROLINA
NORTH DAKOTA
OHIO
OKLAHOMA
OREGON
PENNSYLVANIA
RHODE ISLAND
SOUTH CAROLINA
SOUTH DAKOTA
TENNESSEE
TEXAS
UTAH
VERMONT
VIRGINIA
WASHINGTON
WEST VIRGINIA
WISCONSIN
WYOMING
Recipient Recipient CRD NumberCheckbox not checkedNone
 Citigroup Global Markets, Inc.
 7059
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
390-388 Greenwich Street
 
City State/Province/CountryZIP/Postal Code
 New York
 NEW YORK
 10013
State(s) of SolicitationCheckbox checkedAll StatesCheckbox not checkedForeign/Non-US
 
Recipient Recipient CRD NumberCheckbox not checkedNone
 Oppenheimer & Co. Inc.
 249
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
85 Broad Street
22nd Floor
City State/Province/CountryZIP/Postal Code
 New York
 NEW YORK
 10004
State(s) of SolicitationCheckbox checkedAll StatesCheckbox not checkedForeign/Non-US
 
Recipient Recipient CRD NumberCheckbox not checkedNone
 Morgan Keegan & Company, LLC
 4161
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
50 North Front Street
 
City State/Province/CountryZIP/Postal Code
 Memphis
 TENNESSEE
 38103
State(s) of SolicitationCheckbox not checkedAll StatesCheckbox checkedForeign/Non-US
 
Recipient Recipient CRD NumberCheckbox not checkedNone
 Merrill Lynch, Pierce, Fenner & Smith Incorporated
 7691
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
One Bryant Park
 
City State/Province/CountryZIP/Postal Code
 New York
 NEW YORK
 10036
State(s) of SolicitationCheckbox checkedAll StatesCheckbox not checkedForeign/Non-US
 
Recipient Recipient CRD NumberCheckbox not checkedNone
 Enerecap Partners, LLC
 26554
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
1718 Peachtree Street
NW Suite 900
City State/Province/CountryZIP/Postal Code
 Atlanta
 GEORGIA
 30309
State(s) of SolicitationCheckbox not checkedAll StatesCheckbox not checkedForeign/Non-US
 
GEORGIA
Recipient Recipient CRD NumberCheckbox not checkedNone
 MT Rushmore Securities LLC
 130955
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
1703 Kosola Avenue, #B-1
 
City State/Province/CountryZIP/Postal Code
 Fairfield
 IOWA
 52556
State(s) of SolicitationCheckbox not checkedAll StatesCheckbox checkedForeign/Non-US
 
Recipient Recipient CRD NumberCheckbox not checkedNone
 Capital Management Partners, Inc.
 21973
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
1100 North Fourth Street
Suite 141
City State/Province/CountryZIP/Postal Code
 Fairfield
 IOWA
 52556
State(s) of SolicitationCheckbox not checkedAll StatesCheckbox not checkedForeign/Non-US
 
ALABAMA
CALIFORNIA
FLORIDA
ILLINOIS
IOWA
MASSACHUSETTS
NEW YORK
OHIO
Recipient Recipient CRD NumberCheckbox not checkedNone
 EMCOR Securities, Inc.
 45722
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
400 Madison Avenue
Suite 8A
City State/Province/CountryZIP/Postal Code
 New York
 NEW YORK
 10017
State(s) of SolicitationCheckbox not checkedAll StatesCheckbox checkedForeign/Non-US
 
Recipient Recipient CRD NumberCheckbox not checkedNone
 Fortigent Securities Company, LLC
 46022
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
2600 Tower Oaks Blvd.
Suite 500
City State/Province/CountryZIP/Postal Code
 Rockville
 MARYLAND
 20852
State(s) of SolicitationCheckbox not checkedAll StatesCheckbox checkedForeign/Non-US
 
Recipient Recipient CRD NumberCheckbox not checkedNone
 Metcircle Securities LLC
 132690
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
103 East 84th Street
Suite 5B
City State/Province/CountryZIP/Postal Code
 New York
 NEW YORK
 10028
State(s) of SolicitationCheckbox not checkedAll StatesCheckbox checkedForeign/Non-US
 
Recipient Recipient CRD NumberCheckbox not checkedNone
 Osage Investments, Inc.
 118539
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
1200 North Federal Highway
Suite 400
City State/Province/CountryZIP/Postal Code
 Boca Raton
 FLORIDA
 33432
State(s) of SolicitationCheckbox not checkedAll StatesCheckbox checkedForeign/Non-US
 
Recipient Recipient CRD NumberCheckbox not checkedNone
 Stifel, Nicolaus & Company, Inc.
 793
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
501 North Broadway
 
City State/Province/CountryZIP/Postal Code
 St. Louis
 MISSOURI
 63102
State(s) of SolicitationCheckbox checkedAll StatesCheckbox not checkedForeign/Non-US
 
Recipient Recipient CRD NumberCheckbox not checkedNone
 HighTower Securities LLC
 116681
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
200 West Madison Street
Suite 2500
City State/Province/CountryZIP/Postal Code
 Chicago
 ILLINOIS
 60606
State(s) of SolicitationCheckbox checkedAll StatesCheckbox not checkedForeign/Non-US
 
Recipient Recipient CRD NumberCheckbox not checkedNone
 Foreside Fund Services, LLC
 46106
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
Three Canal Plaza
3rd Floor
City State/Province/CountryZIP/Postal Code
 Portland
 MAINE
 04101
State(s) of SolicitationCheckbox checkedAll StatesCheckbox not checkedForeign/Non-US
 
Recipient Recipient CRD NumberCheckbox not checkedNone
 RA Bench Inc.
 108011
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
1301 5th Avenue
Suite 3525
City State/Province/CountryZIP/Postal Code
 Seattle
 WASHINGTON
 98101
State(s) of SolicitationCheckbox not checkedAll StatesCheckbox checkedForeign/Non-US
 
Recipient Recipient CRD NumberCheckbox not checkedNone
 LPL Financial LLC
 6413
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
75 State Street
22nd Floor
City State/Province/CountryZIP/Postal Code
 Boston
 MASSACHUSETTS
 02109
State(s) of SolicitationCheckbox checkedAll StatesCheckbox not checkedForeign/Non-US
 
Recipient Recipient CRD NumberCheckbox not checkedNone
 Credit Suisse Securities (USA) LLC
 816
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
11 Madison Avenue
 
City State/Province/CountryZIP/Postal Code
 New York
 NEW YORK
 10010
State(s) of SolicitationCheckbox checkedAll StatesCheckbox not checkedForeign/Non-US
 
Recipient Recipient CRD NumberCheckbox not checkedNone
 Raymond James & Associates, Inc.
 705
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
880 Carillon Parkway
 
City State/Province/CountryZIP/Postal Code
 St Petersburg
 FLORIDA
 33716
State(s) of SolicitationCheckbox checkedAll StatesCheckbox not checkedForeign/Non-US
 
Recipient Recipient CRD NumberCheckbox not checkedNone
 Chalice Capital Partners, LLC
 288898
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
10920 Via Frontera
Suite 520
City State/Province/CountryZIP/Postal Code
 San Diego
 CALIFORNIA
 92127
State(s) of SolicitationCheckbox not checkedAll StatesCheckbox not checkedForeign/Non-US
 
ALABAMA
ALASKA
ARIZONA
ARKANSAS
CALIFORNIA
COLORADO
CONNECTICUT
DELAWARE
DISTRICT OF COLUMBIA
FLORIDA
GEORGIA
HAWAII
IDAHO
ILLINOIS
INDIANA
IOWA
KANSAS
KENTUCKY
LOUISIANA
MARYLAND
MASSACHUSETTS
MICHIGAN
MINNESOTA
MISSISSIPPI
MISSOURI
MONTANA
NEBRASKA
NEVADA
NEW JERSEY
NEW MEXICO
NEW YORK
NORTH CAROLINA
NORTH DAKOTA
OHIO
OKLAHOMA
OREGON
PENNSYLVANIA
SOUTH CAROLINA
SOUTH DAKOTA
TENNESSEE
TEXAS
UTAH
VIRGINIA
WASHINGTON
WEST VIRGINIA
WISCONSIN
WYOMING
Recipient Recipient CRD NumberCheckbox not checkedNone
 Morgan Stanley
 149777
(Associated) Broker or DealerCheckbox checkedNone(Associated) Broker or Dealer CRD Number Checkbox checkedNone
  
  
Street Address 1      Street Address 2
2000 Westchester Avenue
 
City State/Province/CountryZIP/Postal Code
 Purchase
 NEW YORK
 10577-2430
State(s) of SolicitationCheckbox checkedAll StatesCheckbox not checkedForeign/Non-US
 



13. Offering and Sales Amounts
 
Total Offering Amount $
 
USDCheckbox checkedIndefinite
Total Amount Sold $
425667684
USD
Total Remaining to be Sold $
 
USDCheckbox checkedIndefinite
Clarification of Response (if Necessary)
  
 
14. Investors

Checkbox not checkedSelect if securities in the offering have been or may be sold to persons who do not qualify as accredited investors,
Number of such non-accredited investors who already have invested in the offering
   
  Regardless of whether securities in the offering have been or may be sold to persons who do not qualify as accredited investors, enter the total number of investors who already have invested in the offering:
75
 
15. Sales Commissions & Finders’ Fees Expenses
Provide separately the amounts of sales commissions and finders' fees expenses, if any. If the amount of an expenditure is not known, provide an estimate and check the box next to the amount.
Sales Commissions$
1022822
USDCheckbox checkedEstimate
Finders' Fees$
0
USDCheckbox not checkedEstimate
Clarification of Response (if Necessary)
IM pays up to 30% of mgt fees to selling agents-see item 12. Current offering began prior to 3/15/09; item 15 reflects info from such date. Certain entities listed in Item 12 are no longer registered broker-dealers & therefore receive no commissions.
 

16. Use of Proceeds
Provide the amount of the gross proceeds of the offering that has been or is proposed to be used for payments to any of the persons required to be named as executive officers, directors or promoters in response to Item 3 above. If the amount is unknown, provide an estimate and check the box next to the amount.
 $ 
0
USDCheckbox not checkedEstimate
Clarification of Response (if Necessary)
 

Signature and Submission
 
Please verify the information you have entered and review the Terms of Submission below before signing and clicking SUBMIT below to file this notice.
Terms of Submission 
 In submitting this notice, each Issuer named above is: 
 
  • Notifying the SEC and/or each State in which this notice is filed of the offering of securities described and undertaking to furnish them, upon written request, the information furnished to offerees.
  • Irrevocably appointing each of the Secretary of the SEC and, the Securities Administrator or other legally designated officer of the State in which the Issuer maintains its principal place of business and any State in which this notice is filed, as its agents for service of process, and agreeing that these persons may accept service on its behalf, of any notice, process or pleading, and further agreeing that such service may be made by registered or certified mail, in any Federal or state action, administrative proceeding, or arbitration brought against it in any place subject to the jurisdiction of the United States, if the action, proceeding or arbitration (a) arises out of any activity in connection with the offering of securities that is the subject of this notice, and (b) is founded, directly or indirectly, upon the provisions of:  (i) the Securities Act of 1933, the Securities Exchange Act of 1934, the Trust Indenture Act of 1939, the Investment Company Act of 1940, or the Investment Advisers Act of 1940, or any rule or regulation under any of these statutes, or (ii) the laws of the State in which the issuer maintains its principal place of business or any State in which this notice is filed.
  • Certifying that, if the issuer is claiming a Regulation D exemption for the offering, the issuer is not disqualified from relying on Rule 504 or Rule 506 for one of the reasons stated in Rule 504(b)(3) or Rule 506(d).
 
Each Issuer identified above has read this notice, knows the contents to be true, and has duly caused this notice to be signed on its behalf by the undersigned duly authorized person.
For signature, type in the signer's name or other letters or characters adopted or authorized as the signer's signature.
 
IssuerSignatureName of SignerTitleDate
IRONWOOD INSTITUTIONAL LTDJonathan GansJonathan GansDirector of the Issuer2021-06-21