Amount Step #

General Behavior #

• Investors can specify the number of shares they wish to purchase.
• The number of shares cannot be lower than the minimum investment value set for each specific offering in the admin panel, with two exception described below.
• Non-investable leftovers rule 1: Investors must choose a number of shares that does not result in “non-investable” share leftovers. For example, if there are 10 shares left with a minimum shares investment set to 3 – investors can purchase any number of shares within the range of 3 to 7 (inclusive), or purchase all 10 shares.
• Non-investable leftovers rule 2 (TBD): Exception and minimum value recalculation. The minimum is always M. The exception applies if fewer than 2M but more than 1M shares are left.

Example: n = number left, M = minimum IF n<2M but n>1M, THEN:

• If n<1.15M, then M = n
• If n>1.15M but n<2M, then M remains M.

Example 1: offer: 120 shares, minimum of 26 shares, and 41 shares left: 41 - 26 = 15 15 > 1.15M Therefore, the final investor is presented with the traditional minimum of 26 shares. They can choose to purchase either 26 shares or all 41 shares. If they purchase 26 shares, then M = 15, allowing another investor to purchase the last 15 shares.

Example 2: offer: 120 shares, minimum of 26 shares, and 32 shares left: 32 - 26 = 6 6 < 1.15M Therefore, the investor can ONLY choose to invest in all 32 shares.

• The number of shares cannot be higher than the the number of left shares which is calculated as total_shares - subscribed_shares, where total_shares is the total number of offer’s shares and subscribed_shares is the number of booked shares.
• Investors receive a calculation of the total investment amount based on the number of shares they wish to purchase.
• Investors must specify the number of shares to proceed to the next step.
• The Investment Amount value is not checked against the investor’s payment capability, so it can be any value allowed in offer settings.
• Shares specified by the investor are not reserved for this investment until the investor completes the investment process and submits the investment (submit of REVIEW step).
• Shares from investments that are canceled by the investor after the investment status or due to post-investment issues with KYC/accreditation/payment are still reserved for this investor. This investment can be canceled by the manager (admin should set the appropriate status in the admin panel), releasing the reserved shares.
• Until the investment is confirmed(submit of REVIEW step), investors can return to the Amount step and change the number of shares. In this case, the system will re-check the availability of shares.
• If investors make changes at the Amount step after completing the Signature step, they are required to re-sign agreement documents.
• Upon successful submission, the investment status is updated to NEW, and the user proceeds to the next step (Ownership step).

Field to Fill In for Shares Offer #