Who is a Qualified Institutional Buyer ("QIB") or Accredited Investor?
Under United States law, a QIB is a company that manages at least US$100M of securities on a discretionary basis or is a registered broker-dealer investing
at least US$10M in non-affiliate securities. A QIB can trade privately placed securities with other qualified institutional investors under SEC Rule
144A, which provides a safe harbor exemption from SEC registration.
- earn an individual income of more than US$200,000 per year, or a joint income of US$300,000, in each of the last two years and expect to reasonably maintain the same level of income.
- have a net worth exceeding US$1M, either individually or jointly with his or her spouse.
- be a general partner, executive officer, director or a related combination thereof for the issuer of a security being offered.