Company requirements

At SharesPost, we strive to ensure that our members are presented with the opportunity to invest in the most attractive late stage private companies. As part of this effort, we require companies offering a private placement to our members to meet certain reporting and governance requirements. We believe these requirements help enable a heightened level of shareholder insight into the companies they are financing. Companies posting private placements on SharesPost must:

• Provide SharesPost members with a comprehensive private placement memorandum (PPM)
• The PPM must include audited financials for the Company’s past two fiscal years
• The contents of the PPM must be certified by both the Company’s CEO and CFO
• The Company’s Board of Directors must include at least two independent directors
• The Company’s Board of Directors must include separate audit and compensation committees
• The Company must hold regular annual shareholder meetings
• The Company must make financial reports available to shareholders semi-annually
• The Company must report material corporate events to Shareholders as they occur
• The Company must support its bulletin board on SharesPost for a period of at least three years or until its initial public offering.