Exempt Transactions Flashcards

Flashcards about Exempt Transactions

Regulation D Offering (Private Placement)

Offering made directly to sophisticated investors with no limit on the number of institutional and accredited investors. A maximum of 35 non-accredited investors are permitted. Disclosure is provided through an Offering Memorandum, and securities are restricted from public resale for six months.

Offering Memorandum

The disclosure document used in a Regulation D Offering (Private Placement).

Rule 147-Intrastate Offering

Offering made by an in-state company to in-state investors. The company must be based in the state, and all purchasers must be residents of the state. Resales to other state residents are permitted immediately, but securities cannot be resold outside of the state for six months.

Accredited Investor

An investor who meets certain minimum requirements related to income, net worth, or professional expertise.

Institutional Investor

An organization or entity such as a mutual fund or insurance company that invests on behalf of its members.