Investors must qualify as an accredited investor under one of the
following certifications or be a non-U.S. person located outside the
United States.
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A natural
person whose individual net worth, or joint net worth with his
or her spouse exceeds $1,000,000. |
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A natural
person who had individual income in excess of $200,000 in each
of the two most recent years or joint income with his or her
spouse in excess of $300,000 in each of those years and has
reasonable expectation of reaching the same income level in the
current year. |
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An organization
described in Section 501(c)(3) of the Internal Revenue Code,
corporation, Massachusetts or similar business trust, or
partnership, not formed for the specific purpose of acquiring
the securities offered, with total assets in excess of
$5,000,000. |
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A trust with
total assets in excess of $5,000,000, not formed for the
specific purpose of acquiring the securities offered, whose
purchase is directed by a sophisticated person as described in
Rule 506(b)(2)(ii) under the U.S. Securities Act of 1933. |
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An entity in
which all of the equity owners are "accredited investors" as
defined in Rule 501(a) under the U.S. Securities Act of 1933. |
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A bank (as
defined in Section 3(a)(2) of the U.S. Securities Act of 1933)
or a savings and loan association or other institution (as
defined in Section 3(a)(5)(A) of the U.S. Securities Act of
1933), whether acting in its individual or a fiduciary capacity. |
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A broker or
dealer registered pursuant to Section 15 of the U.S. Securities
Exchange Act of 1934. |
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An insurance
company (as defined in Section 2(13) of the U.S. Securities Act
of 1933). |
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An investment
company registered under the U.S. Investment Company Act of
1940. |
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A business
development company (as defined in Section 2(a)(48) of the U.S.
Investment Company Act of 1940). |
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A Small
Business Investment company licensed by the U.S. Small Business
Administration under Section 301(c) or (d) or the U.S. Small
Business Investment Act of 1958. |
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A plan
established and maintained by a state, its political
subdivisions, or any agency or instrumentality of a state or its
political subdivisions, for the benefit of its employees, if the
plan has total assets in excess of $5,000,000. |
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An employee
benefit plan within the meaning of the U.S. Employee Retirement
Income Security Act of 1974 (an "ERISA Plan") whose
investment decisions are made by a plan fiduciary (as defined in Section
3(21) of the U.S. Employee Retirement Income Security Act of 1974, which
is either a bank, savings and loan association, insurance company or
registered investment adviser. |
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An ERISA Plan with total assets in excess of $5,000,000 or, if a
self-directed ERISA Plan, with investment decisions made solely by
persons that are "accredited investors". |
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A private
business development company (as defined in Section 202(a)(22)
of the U.S. Investment Advisers Act of 1940). |
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A non-U.S. person located outside the United States. |
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