FAQs Archive - Page 9 of 11

Q: What is a Benefit Plan Investor?

For purposes of investing on IPOGO, a “Benefit Plan Investor,” as defined under Section 3(42) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and any regulations promulgated thereunder, includes: an “employee benefit plan” that is subject to the provisions of Title I of ERISA; a “plan” that is not subject to the provisions of Title I of ERISA, but that is subject to the prohibited transaction provisions of Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”), such as individual retirement accounts and certain retirement plans for self-employed individuals; and a pooled investment fund whose assets are treated as “plan assets” under Section 3(42) of ERISA and any regulations promulgated thereunder because “employee benefit plans” or “plans” hold 25% or more of any class of equity interest in such pooled investment fund. Resources: https://www.dol.gov/agencies/ebsa/laws-and-regulations/laws/erisa

Q: What does it mean when an offering has a Waitlist?

If a fund on IPOGO has been fully committed (i.e. Investors have committed to purchasing all available shares from the fund), interested investors will need to join the Waitlist to reserve a spot in the event additional shares become available OR an investor backs out of the deal. To join the Waitlist , investors will need to sign a Term Sheet with their desired investment size. Please note , term sheets are non-binding. This means that if you sign a term sheet to be added to the Waitlist , you will not be bound to move forward should an allocation of shares come available.

Q: When do I need to send funds for my investment?

We typically market our offerings for 3 weeks or until an offering is fully allocated. We begin accepting funds at the end of this period. If there is significant demand for the offering we will begin accepting subscriptions immediately and you would have until the Deadline for Confirmation, as listed on the Offering Document, to submit a completed subscription. By signing a term sheet you are reserving an allocation and must complete the investment process before the Deadline for Commitment. You will be subject to a $500 termination fee if you cancel your investment after completing the investment process. The investment process is completed once you have clicked "Submit" from the Transaction Summary page. While your investment is subject to the Termination Fee, an indication of interest or Term Sheet is not binding. In most cases, we send a 7-day notice before the funds' transfer date. We do our best to determine this date while we are collecting subscriptions. The funds' transfer date is determined by whether we anticipate the Right of First Refusal to be waived or if we are not sure whether the company will or will not waive the Right of First Refusal.

Q: When can I expect my investment to be completed?

Once we receive full commitments from investors we will stop accepting allocation and will approach the company with our deal terms. The company has a Right of First Refusal which allows them a thirty day (typically) period to purchase the shares on the same terms as our offer. You can typically expect a transaction to close 4-6 weeks from the time we "close" our fund and stop accepting investor commitments. By submitting your term sheet you agree to complete the investment process within one week of being informed by email that it is available to be completed. In the event you do not complete it within one week of notification, your investment allocation may be reallocated to another investor and you may be charged a $500 termination fee.

Q: How do I change my investment size?

You will be unable to change your investment size manually. Please start a chat or email the IPOGO support team ASAP at support@ipogo.com for further instructions on how to complete this process.

Q: What kind of paperwork do I receive as an investor?

Our paperwork is similar to that of any fund investment but simpler. An investor would sign a Subscription Agreement, through which they would purchase an interest in the fund (company). In addition, an investor would also complete a W-9 (W8-BEN for foreign investors) once for our records. On an annual basis, investors would receive a Schedule K-1 that updates them on their investment. All legal and financial documents are prepared with the involvement of outside counsel or accountants, as applicable.

Q: How are you different from other secondary marketplaces?

IPOGO is unique in that we account for the company whose shares are being transacted as a key stakeholder in the process. Unlike some platforms, we only facilitate company approved deals and acquire shares at the time of the transaction, avoiding the risks that a selling shareholder does not deliver shares in the future under a forward contract or that the company does not recognize the transfer in the future. IPOGO takes a technology-driven approach, allowing for secure transactions with audit trails while also reducing costs.

Q: What does availability Live, Waitlist and Preview mean?

Availability Status is Live : We have a Standard Deal and/or Express Deal(s) that has allocation available. In addition to an active, available deal, we may also be gauging demand for a Standard Deal offering or have a Standard Deal offering with a waitlist. However, if the availability status is Live, then there is at least one offering accepting investment. Availability Status is Waitlist : We have an available Standard Deal, but it has been fully allocated. If you are interested in the particular opportunity, we recommend you reserve a spot on the waitlist by entering an investment size on the offering page. If additional allocation becomes available we’ll alert you and you'll have 24 hours to decide. Availability Status is Preview : We have access to shares and are gauging investor demand for a Standard Deal offering. Submit your interest in your desired companies so that you may be alerted when we launch the offering.

Investments Definition for purposes of section 2(a)(51) (definition of qualified purchaser)

By minixpower|2021-01-10T21:18:09+00:00January 10, 2021|Investor - Investment Process|

“Investments” generally means the following: Securities, including stocks, [...]

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What is a Benefit Plan Investor?

By minixpower|2021-01-10T21:16:25+00:00January 10, 2021|Investor - Express Deals, Investor - Investment Process|

For purposes of investing on IPOGO, a “Benefit [...]

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What does it mean when an offering has a Waitlist?

By minixpower|2021-01-10T21:13:53+00:00January 10, 2021|Investor - Investment Process|

If a fund on IPOGO has been fully [...]

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When do I need to send funds for my investment?

By minixpower|2021-01-10T21:12:54+00:00January 10, 2021|Investor - Investment Process|

We typically market our offerings for 3 weeks [...]

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When can I expect my investment to be completed?

By minixpower|2021-01-10T21:11:19+00:00January 10, 2021|Investor - Investment Process|

Once we receive full commitments from investors we [...]

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How do I change my investment size?

By minixpower|2021-01-10T21:10:09+00:00January 10, 2021|Investor - Investment Process|

You will be unable to change your investment [...]

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What are the commitments to investing in a deal? Is the Term Sheet binding?

By minixpower|2021-01-10T21:07:40+00:00January 10, 2021|Investor - Investment Process|

We collect commitments to our investment opportunities based [...]

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What kind of paperwork do I receive as an investor?

By minixpower|2021-01-10T21:04:05+00:00January 10, 2021|Investor - Investment Process|

Our paperwork is similar to that of any [...]

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How are you different from other secondary marketplaces?

By minixpower|2021-01-10T21:02:01+00:00January 10, 2021|Investor - Investment Process|

IPOGO is unique in that we account for [...]

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What does availability Live, Waitlist and Preview mean?

By minixpower|2021-01-10T21:00:00+00:00January 10, 2021|Investor - Investment Process|

Availability Status is Live: We have a Standard [...]

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