Small Offers Exemption

This exemption is designed for smaller fundraising efforts targeting both retail and professional investors within the EU. It provides a simpler alternative for issuers with moderate capital needs.

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Target Investors

• Both retail and professional investors.

Offering Cap

• Up to EUR 5 million in a rolling 12-month period.

Restrictions

• The exemption thresholds vary between EU member states. Some countries may require local filings or additional documentation.

• Marketing materials must comply with anti-fraud and transparency requirements.

Compliance Notes

• A full prospectus is not required, but some member states may impose local filing obligations for the offering.

• Issuers should verify specific requirements in their target member states.

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Why Choose This Framework?

The Small Offers Exemption is suitable for startups and smaller issuers seeking retail and professional investors without the complexity of full prospectus registration. However, issuers must carefully navigate local variations in requirements.

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