This is a type of private placement; therefore no general solicitation is permitted. It allows an issuer organized as a corporation, limited partnership or limited liability company to raise an unlimited amount of capital from up to 25 investors in total (that includes within and outside of New Mexico).  Securities sold under this provision cannot be readily sold or transferred.  No disclosure format is specified for the offering, but the issuer must disclose all materials facts to purchasers in compliance with the anti-fraud provisions of the Securities Act.  Resale of such securities is restricted and therefore the issuer must have a reasonable belief that the securities are purchased for investment purposes.


Filing Requirement:
If the issuer is formed under the laws of another state or jurisdiction, it must file a notice with the securities Division on Form 202Y.  IF an issuer is formed in New Mexico, they must file with the New Mexico Securities Division a statement of purpose which outlines the directives and goals of the offering. We recommend filing a completed Form 202Y even if you a domestic New Mexico entity.
Filing Fee:
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