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Non-Tech : Private Placements
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To: Grantcw who wrote (39)5/19/1999 11:17:00 AM
From: Mitch Aunger  Read Replies (1) of 56
 
Grant..

I'll add my two cents to what has been posted today already.

SOME private placements allow for NON accredited investors... I think they are called 504 and 505... but don't quote me on those numbers.

The SEC allows up to 35 investors that are NOT accredited to join in these types of PPs... IF the company offering the PP agrees to let you in. They are not obligated to let you in if you don't fit the minimums. I've been told that some companies don't want small investors in because it might look bad when they look for underwriters to go public. But I was told that the SEC rules do allow for this small number of nonqualified investors.

I have participated in TWO PPs without having the 500k minimum etc. Both of those have YET to go public (waiting over 2 years on both!) so... be ware if you do get involved. Tho... I'm hoping my $1 per share investment pays off at IPO time.

Don't forget that some PPs have restrictions on when you can sell the stock after they go public... and a recent SMARTMONEY article says that 75% of all IPOs are at or below their IPO price within 24 months. Tho if you get in at a small fraction of the IPO price you will still be in the PLUS!!

Let me know if you have more questions!

Mitch
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