Sales to Ten or Fewer Purchasers

This exemption is a state level private placement exemption and no general solicitation is allowed, no commissions are paid to persons not registered in New Mexico and the purchase is being made for investment and not for resale.  The issuer may not sell to more than 10 persons in New Mexico within any 12-month period.  In addition, the issuer must meet one of the following two conditions:

The company does not have more than 50 beneficial owners and has not raised more than $1 million during any consecutive 12 month period, or;

The seller reasonably believes that all of the purchasers in this state are purchasing for investment.


Filing Requirement:
Completed Form 202N must be filed no less than five (5) business days before the first sale of securities in this state.
Filing Fee:
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