The Other Side of the Table · Appendix B
Before the First Dollar Moves: A Private Offering Checklist
Twelve questions to answer before a Rule 506 or Regulation A raise: exemption choice, verification, bad actors, finders, Form D, blue sky, and integration.
Download the PDF- Which exemption: Rule 506(b), Rule 506(c), Regulation A, or another? Decided in writing.
- Has everyone who will speak about the company been told what they may and may not say publicly?
- If 506(c): what verification method will be used for each purchaser, and who will keep the record?
- If 506(b) with non-accredited investors: is the required disclosure package prepared?
- Has a bad actor inquiry been completed for every covered person?
- Is anyone being paid to introduce investors? Are they registered? How are they compensated?
- Is the offering document accurate, current, and consistent with the deck, website, and any press?
- Are subscription documents, investor questionnaires, and board approvals complete?
- Is the Form D calendared for fifteen days after the first sale?
- Are state notice filings identified and calendared?
- Could this offering be integrated with any other recent or planned offering?
- Is the capitalization table current and supported by documentation for every prior issuance?
From the book
- Chapter 4: Rule 506: The Line You Cannot Uncross
- Chapter 5: Finders, Form D, and the Quiet Failures
- Chapter 6: Regulation A: The Public Offering Without the Full Weight
This is general information, not legal advice.