Announcement of Proposed Offering
(Qualified Purchaser Exemption) (CA)

Summary

This announcement template may be used for a proposed offering relying on the qualified purchaser exemption provided under California law (see Cal. Corp. Code § 25102(n)). This template includes practical guidance, drafting notes, and optional clauses. An issuer is not required to publish an announcement, but should it choose to do so, publication must be made by a written document (see Cal. Corp. Code § 25102(n)(5)(A)). The announcement must contain certain specified information (see Cal. Corp. Code § 25102(n)(5)(A)), and may also contain certain specified optional information (see Cal. Corp. Code § 25102(n)(5)(B)), as illustrated in this template. The announcement may contain only information that has been designated as mandatory and/or optional (see Cal. Corp. Code § 25102(n)(5)(C)). For more information on exempt offerings in California, see Exemptions from the Securities Qualification Requirements under California Law. For more on private placements generally, see Private Placements Resource Kit.