• Goldman Sachs for emerging tech and life sciences IPOs.
• Morgan Stanley for small-cap tech and biotech IPOs.

• Investment Banking Advisory: Provides strategic and financial advisory services, including mergers and acquisitions, valuation analysis, and corporate strategy to companies.
• Capital Raising Services: Assists companies in securing funding through public offerings (e.g., IPOs, follow-on offerings) and private placements with institutional and strategic investors.
• Venture Capital/Principal Investments: Makes direct equity investments into early-stage and growth companies, primarily in the disruptive technology and life sciences sectors.

MDB Capital (MDBH) primarily sells its services to other companies, operating as an investment bank focused on disruptive technology sectors.

The company provides capital formation, mergers & acquisitions (M&A) advisory, and strategic advisory services to growth companies seeking capital and strategic guidance.

However, investment banks typically do not publicly disclose the names of their major customers due to client confidentiality and the transactional nature of their business relationships. While MDB Capital's SEC filings (e.g., its annual report on Form 10-K) indicate that a significant portion of its revenue in any given period may be concentrated in a small number of clients and transactions (for example, two clients accounted for approximately 71% of total revenues in 2022), the specific names of these client companies are not publicly disclosed.

Therefore, it is not possible to list the names of their major customer companies.

• StoneX Group Inc. (SNEX)

Christopher Marlett, Co-founder, Chief Executive Officer, Chairman of the Board

Christopher Marlett co-founded MDB Capital in 1997 and has served as the Chief Executive Officer and Chairman of the Board of MDB Capital Holdings, LLC since August 2021. He also co-founded and has been the CEO of Public Ventures, LLC dba MDB Capital since 1997. Over his career, he has led 17 IPOs for high-growth technology and life sciences firms and has been integral in co-founding and developing the commercialization and financing strategies for all companies MDB has taken public. He has helped launch several life science companies that achieved FDA approval, leading to multi-billion-dollar valuations or successful acquisitions by major pharmaceutical companies. Marlett also co-founded PatentVest and developed the first patent services company in Nicaragua, which was sold to Murgitroyd, an LSE-listed patent attorney and services platform. He has also led impactful investments in Nicaragua, creating thousands of jobs and developing Central America's largest call center park.

Jeremy William James, Chief Financial Officer

Jeremy William James serves as the Chief Financial Officer, Chief Accounting Officer, and Principal Financial Officer of MDB Capital Holdings, LLC. His recent activities include stock transactions in November 2024, where he sold shares of the company.

Anthony DiGiandomenico, Co-founder, Head of New Venture Discovery, Director

Anthony DiGiandomenico is a co-founder of MDB Capital and serves as the Head of New Venture Discovery and a Director. Since co-founding Public Ventures, LLC dba MDB Capital in 1997, he has focused on enabling investment into early-stage disruptive technologies across various sectors, including biotechnology, medical devices, high technology, and renewable energy. He has been instrumental in co-founding and developing the commercialization and financing strategy for all the companies MDB has taken public and has served as a board member for several of these public companies in their early stages.

Mohammad "Mo" Hayat, Head of Corporate Development, Chief Legal Officer, Director

Mohammad "Mo" Hayat holds the titles of Head of Corporate Development, Chief Legal Officer, and Director at MDB Capital Holdings, LLC. He served as Chief of Entrepreneurship & Operations of the Company since its inception in August 2021. Prior to this, he was the Chief Executive Officer of Invizyne Technologies Inc. from April 2019, transitioning to Executive Chairman and President in August 2022. Hayat also founded and has operated Mora Partners Inc., a consulting and investment firm, since September 2006.

George Brandon, President & Director

George Brandon is the President & Director of MDB Capital Holdings, LLC, and has served as President & Head of Community Development since the company's inception in August 2021. With 36 years of varied investment experience, including 12 years with Public Ventures, LLC dba MDB Capital, his business focus has been primarily on marketing and strategy development and community building around entrepreneurial start-ups, micro-cap, and small-cap companies.

The increasing prevalence and sophistication of online crowdfunding and private capital formation platforms (e.g., Republic, SeedInvest, StartEngine) represent a clear emerging threat to MDB Capital's core business of advising early-stage growth companies on capital raising. These platforms leverage technology and evolving regulatory frameworks to offer companies direct access to a broad base of accredited and retail investors, often with lower fees and a more streamlined process than traditional investment banking services. This trend disintermediates traditional intermediaries, potentially reducing the demand for MDB Capital's advisory services in a key market segment.

Here are 3-5 expected drivers of future revenue growth for MDB Capital (symbol: MDBH) over the next 2-3 years:

1. Increased Volume of "Public Venture" Company Launches: MDB Capital aims to significantly scale its core business of launching high-impact, curated companies into the public markets. The company plans to increase its launch rate from approximately one company every 18 months to three or four per year. This strategy, focusing on "public venture" opportunities in deep technology sectors, is expected to drive revenue through successful IPOs and equity interests in these portfolio companies. MDB Capital's pipeline of potential "Big Idea" companies is robust, with a focus on those with a high probability of becoming market leaders. In Q1 2025, MDBH secured Letters of Intent (LOIs) for three new "Big Idea" companies targeted for 2025 launches.
2. Growth and Scaling of PatentVest Operations: PatentVest, MDB Capital's integrated IP intelligence, strategy consulting, and IP law firm, is expected to be a significant revenue driver. Management has indicated that revenues from PatentVest are starting to scale. The company increased its PatentVest engagements from three clients at the end of 2023 to eight clients, demonstrating early growth in this segment. There are also plans to spin off PatentVest as its own independent public company, likely in 2026, which could unlock additional value and revenue streams for MDBH shareholders through distributed equity.
3. Expansion of MDB Direct Accounts and Investor Community: MDB Capital is actively expanding and deepening its relationships within its investor community, particularly through the growth of MDB Direct accounts and partnerships with angel groups, RIAs, and family offices. MDB Direct accounts grew by 26% with 111 new clients in Q1 2025, and the overall shareholder base expanded by 4.5%. This widening investor access to MDBH's curated deal flow is crucial for successful public offerings and subsequent revenue generation from its financing activities.
4. Strategic Focus on High-Growth Deep Tech and Metabolic Health Sectors: MDB Capital is intentionally focusing on "deep-tech" sectors, including AI, biotech, and sustainable materials, as well as the lucrative metabolic health market. This strategic positioning aims to capitalize on breakthroughs in these areas, where MDBH acts as a curator of "the next big things." The company sees immense, multibillion-dollar potential in metabolic health, driven by treatments like GLP-1 drugs. This focus on high-impact, high-growth sectors, where MDBH provides end-to-end development and public offering services, is anticipated to generate substantial fees and equity interests.

Share Repurchases

• MDB Capital has two active share repurchase programs: the "2023 Anti-Dilutive Program" authorizing the repurchase of up to 2 million shares issued to employees since August 31, 2023, and the "October 2024 Discretionary Program" allowing the repurchase of up to 2 million shares over two years, expiring in October 2026.
• During the year ended December 31, 2024, the company repurchased 70 common shares under its common stock repurchase authorization.
• As of December 31, 2024, there were 2,217 authorized shares remaining under the common stock repurchase authorization.

Share Issuance

• MDB Capital's initial public offering (IPO) occurred on September 21, 2023, offering 1,666,666 Class A common shares at $12.00 per share, totaling an offer amount of $19,999,992.
• In 2024, the company issued 5 common shares through its Common Stock Dividend Reinvestment Program ("DRIP"), generating net proceeds of $86.

Outbound Investments

• MDB Capital operates as a public venture platform, focusing on launching innovative early-stage companies into the public market.
• The company launched a private offering for Paulex Bio, a firm developing an oral medication for diabetes.
• MDB Capital plans to spin out PatentVest as an independent public company in 2026 and announced plans for an IPO of Buda Juice.