SEC API vs AskEdgar - SEC API for AI

AskEdgar launched 2026-04-22 as a focused dilution-intelligence product for small-cap investors. It ships a curated dilution schema, an AI Copilot UI, and a per-KB API priced for tactical workflows. SEC API ships parity on the dilution data — every entity AskEdgar models, plus a few they don’t — and adds 38 endpoint families they don’t touch. Each SEC API dilution row carries an askedgar_url field, so customers running both products can dual-source during cutover. SEC API’s dilution score is live-computed on every request (no persisted table to go stale, no permanent 404). The score now surfaces its full per-factor breakdown on /v1/dilution/score (key, label, score, weight, value, and a plain-English explanation per factor), excludes missing factors and renormalizes the remaining weights rather than substituting a neutral 50, flags variable-rate / floorless (“death-spiral”) convertibles as a distinct surcharge, and blends a share-float-velocity factor (trailing-12-month share-issuance velocity, so the score moves with the rate of dilution, not just a point-in-time state) — contrasted with a purely state-based score. /v1/dilution/ratings reads the canonical dilution_score_history and returns the latest factor-weighted rating per issuer; for the rolling score time series use /v1/signals/dilution?history=30d|90d|1y.

Dilution data model

Entity	SEC API fields	AskEdgar fields
Dilution event	42 (`dilution_events`)	42 (DilutionEntity)
Warrants and convertibles	split: `dilution_warrants` + `dilution_convertibles`	bundled fields
Right of first refusal (RoFR)	dedicated table	dedicated entity
Lockups	dedicated table	dedicated entity
Nasdaq compliance	dedicated table	dedicated entity
Cash position	dedicated table	inline sub-field
Corporate actions	dedicated table	inline sub-field
Reverse splits	dedicated table	dedicated endpoint
Share-float history (full time series)	dedicated table	dedicated endpoint
Per-field verification (confidence, sourceSpan, …)	yes (6-dimension `verification` block)	binary `verified`
Direct row-level cross-link to AskEdgar	yes (`askedgar_url` on every row)	n/a

Forms covered: S-1, S-3, 424B*, FWP, 8-K (parity).

Dilution endpoint coverage

SEC API ships 14 REST endpoints under /v1/dilution/* plus mirrored dilution MCP workflows. AskEdgar productizes a related but smaller set under https://api.askedgar.com/v1. Mapping for the most common queries:

AskEdgar route	SEC API route(s)
`/v1/dilution-data`	`/v1/dilution/events`
`/v1/dilution-rating`	`/v1/dilution/score` (latest) + `/v1/dilution/ratings` (history)
`/v1/offerings`	`/v1/dilution/events?form=S-1,S-3,424B5`
`/v1/float-outstanding`	`/v1/dilution/share-float-history` (latest entry)
`/v1/historical-float-pro`	`/v1/dilution/share-float-history`
`/v1/screener`	`/v1/dilution/coverage`
`/v1/reverse-splits`	`/v1/dilution/reverse-splits`
`/v1/nasdaq-compliance`	`/v1/dilution/nasdaq-compliance`
`/v1/registrations`	`/v1/dilution/events?form=S-1,S-3`
(no AskEdgar equivalent)	`/v1/dilution/warrants`, `/v1/dilution/convertibles`
(no AskEdgar equivalent)	`/v1/dilution/rofr`, `/v1/dilution/lockups`
(no AskEdgar equivalent)	`/v1/dilution/cash-position`, `/v1/dilution/corporate-actions`

Full migration table at migrate-from-askedgar.

Dilution score model

AskEdgar exposes a categorical dilution rating. SEC API’s /v1/dilution/score returns a 0–100 numeric score plus a band, six categorical sub-ratings, and the full per-factor breakdown that produced it — so an agent can read why a ticker scored where it did, not just the headline.

Property	SEC API `/v1/dilution/score`	AskEdgar rating
Compute model	live-computed per request (no stale persisted row, no hard 404)	state-based
Per-factor breakdown	yes — `factors[]` (key, label, score, weight, value, explanation)	not exposed
Missing-factor handling	excluded + remaining weights renormalized (no neutral-50 default)	n/a
Death-spiral / variable-rate convertible flag	yes — distinct surcharge on the overhang factor	no
Float-velocity factor	yes — `share_float_velocity` (trailing-12mo share-issuance rate)	no
Score history	`/v1/dilution/ratings` (reads canonical `dilution_score_history`)	n/a

The emitted per-factor weight is the effective in-score weight: with no missing factors the weights are the static catalog weights; when a factor is unavailable it is excluded and the rest renormalize to sum to 1.0, so sum(score × weight) always reconciles to the headline. The agent view (?view=agent) carries the same numeric score, sub-ratings, and a flat factorExposures map keyed by factor.

Verification model

SEC API returns a 6-dimension verification block on every dilution row. AskEdgar returns a single boolean. The shape difference matters when an agent needs to gate downstream actions on confidence or trace a number back to a citeable source span in the filing:

// AskEdgar
{ "verified": true }

// SEC API
{
  "verification": {
    "sourceSpan": "S-1 §Use of Proceeds, p.34",
    "extractionTraceId": "trace_…",
    "confidence": 0.94,
    "crossValidations": [{ "name": "xbrl_shares_outstanding", "passed": true }],
    "modelVersion": "2026-03",
    "verifiedAt": "2026-04-22T14:31:08Z"
  }
}

Every extracted dilution row type (events, warrants, convertibles, RoFR, lockups, Nasdaq compliance, reverse splits, cash position, corporate actions, and share-float history) exposes this block — including a sourceSpan filing anchor — on its default view, so any number an agent surfaces is one hop from the filing that backs it. The derived dilution rating/score is a composite of those rows rather than a single extracted field, so its verification.sourceSpan is null; trace it through the per-factor breakdown and the underlying rows. SEC API dilution verification is rolling out in stages. Schema and contract are live on every response; production extraction coverage expands as each source family clears verification.

Pricing

AskEdgar splits its surface into two products: an AI Copilot UI (priced per-month with included AI questions) and an API (priced per-KB, pay-as-you-go only). SEC API is API-first and offers a unified PAYG plus subscription ladder.

Tier	SEC API	AskEdgar Copilot	AskEdgar API
Starter grant	150 calls (one-time)	Limited AI questions	None
Pay-as-you-go	From $0.01/call	n/a	$0.004–$ 0.019/KB
Personal/Pro	$55/month	$59/month — 600 AI Q (7-day trial)	n/a
Team/Pro+	$239/month	$199/month — 1,000 AI Q (7-day trial)	n/a
Enterprise	Custom (SLA, support, dedicated capacity)	Custom	Custom

Cost example for a small dilution-research workload (300 API calls/month, ~6 KB returned per dilution-data call):

AskEdgar API PAYG (/v1/dilution-data at $0.018/KB) ≈ **$ 32.40/month**
SEC API PAYG (300 × $0.01/call) ≈ **$ 3.00/month** (after the one-time 150-call grant)
SEC API Personal $55/month (predictable, includes the rest of the 39-family API surface)

The PAYG arithmetic is the conversion lever for any agent at small-to-medium volume. The subscription is the right call once dilution data is embedded in a workflow that touches the rest of the API surface.

Where AskEdgar wins

AskEdgar has genuine strengths and a visible head start on dilution specifically. Customers evaluating both should know:

Polished AI Copilot UI for non-engineer users. SEC API is API-first and does not ship a Copilot UI in the same shape today.
Tight vertical scope — schema, screener, alerts, and Discord integrations tuned for one workflow (small-cap dilution forensics) feel cohesive end-to-end.
7-day free trial on Pro and Pro+ Copilot tiers. SEC API does not offer a separate trial; every new organization receives 150 included calls, one-time and non-renewing.
Marquee small-cap testimonials. Aegis Capital is named on the home page alongside Trillium, Seven Points Capital, SMB Capital, and others.
Strict per-endpoint per-KB API pricing. Some buyers prefer a metered API with no monthly floor.

Where SEC API wins

SEC API is broader (39 endpoint families vs AskEdgar’s dilution-only wedge), serves first-party SEC data through one consistent contract, ships per-field verification with citeable source spans rather than a binary flag, returns cost and token headers on every call, and treats agents as a first-class surface (hosted MCP, 4 SDKs, 8 Skills, FinanceBench score, signed webhooks, structured CLI). The dilution wedge now sits inside that broader surface: a ticker’s quant factor exposures are available inline on /v1/companies/overview?include=factors (opt-in), so a dilution workflow can read offering pressure and factor risk from the same company surface.

Dimension	SEC API	AskEdgar
Endpoint families	39	dilution-only (~5 productized)
Endpoints	186	~12 productized
Per-field verification	yes (6-dimension `verification`)	binary `verified`
MCP server	yes (94 tools, including dilution workflows)	no
SDKs	4 (JS/TS, Python, Go, Rust)	none published
Custom Skills (Claude / agent-runnable)	8 canonical skills	none
FinanceBench score	18 / 25 (72%) canary subset, 2026-04-25	none published
Filing search / sections / XBRL	yes	no
13F holdings + comparison	yes	no
Insider trading + Form 144	yes	no
Executive compensation	yes	no
8-K 5.07 voting (structured)	yes (first in market)	no
Form ADV (+ AUM filters)	yes	no
Enforcement (5,993+ records)	yes	no
Semantic search (hybrid vector + keyword)	yes	no
Macro intelligence (12 countries)	yes	no
Factor analysis (broad catalog with narrower launch surface)	yes	no
Quant factor exposures on the company surface	yes (`/v1/companies/overview?include=factors`)	no
Dilution score: full per-factor breakdown	yes (`factors[]` on `/v1/dilution/score`)	categorical rating only
Dilution score: death-spiral / variable-rate flag	yes	no
Webhooks (signed, replay, cursor)	yes (public Delivery events)	Discord automation only
Direct row-level back-link to competitor	yes (`askedgar_url` field)	n/a

Latency benchmarks vs AskEdgar are scheduled for a follow-up ticket; SEC API’s published p50 across the 4-workflow harness is at /benchmark-results.

When to choose which

Choose AskEdgar when:

You are a small-cap investor who wants an AI Copilot UI today and dilution is your only need.
You want to start with a 7-day free trial on the Copilot tier.
You are billing-compliant with strictly-metered per-KB API charges and do not need broader SEC data.

Choose SEC API when:

You are building agents or integrations that touch dilution AND broader SEC data (filings, statements, factors, insiders, board, comp, macro).
You need per-field verification with citeable source spans rather than a binary verified flag.
You need a transparent dilution score — the full per-factor breakdown, renormalized weights, and a death-spiral / variable-rate-convertible flag — not just a categorical rating.
You need an MCP server, multi-language SDKs, or signed webhooks.
You expect to migrate between tactical (PAYG) and predictable (subscription) billing as your workload grows.

Use both if your dilution research happens in the AskEdgar Copilot UI and your agent layer reads directly from SEC API for everything else — the askedgar_url field on each SEC API dilution row gives you a one-click return path to the AskEdgar UI for verification.

Developer experience

Capability	SEC API	AskEdgar
API auth header	`x-api-key`	`API-KEY`
API base URL	`https://api.secapi.ai/v1`	`https://api.askedgar.com/v1`
Onboarding	Starter account; explicit key creation	API-key request flow + per-KB billing
OpenAPI	yes (Zod-generated)	not publicly linked from /docs
MCP server	yes (94 tools)	no
Multi-language SDKs	JS/TS, Python, Go, Rust	none published
Skills (Claude / agent-runnable)	8 canonical	none published
Webhooks	signed + replay + cursor	Discord-only
FinanceBench	18 / 25 (72%) canary, 2026-04-25	not published

Migration

# AskEdgar                                              ->  SEC API
# /v1/dilution-data?ticker=MULN                         ->  /v1/dilution/events?ticker=MULN
# /v1/dilution-rating?ticker=MULN                       ->  /v1/dilution/score?ticker=MULN
# /v1/float-outstanding?ticker=MULN                     ->  /v1/dilution/share-float-history?ticker=MULN&limit=1
# API-KEY: $ASKEDGAR_API_KEY                            ->  x-api-key: $SECAPI_API_KEY

Full guide at migrate-from-askedgar — endpoint mapping, auth diff, verification-model rewrite, pricing-impact table.

Try SEC API

curl "https://api.secapi.ai/v1/dilution/events?ticker=MULN" \
  -H "x-api-key: YOUR_API_KEY"

Create an account at secapi.ai/signup to get an API key.

AskEdgar facts and numeric claims reflect data captured as of 2026-04-26 (re-verified at askedgar.io on 2026-04-26). SEC API dilution-score and factor-exposure capabilities updated 2026-06-18 to reflect the shipped live-compute score, per-factor breakdown, missing-factor renormalization, death-spiral / variable-rate-convertible flag, float-velocity factor, and the opt-in /v1/companies/overview?include=factors enrichment.

​Dilution data model

​Dilution endpoint coverage

​Dilution score model

​Verification model

​Pricing

​Where AskEdgar wins

​Where SEC API wins

​When to choose which

​Developer experience

​Migration

​Try SEC API