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New Offering Checklist

This workflow will provide the step by step process of creating a new offering in IMS. This is an overview with links to deep dive into more information. This process will include the following:         

  1. Final Offering Documents
  2. Build a Project 
  3. Decide Accreditation Method
  4. Choose an Investor Experience  

Detailed steps below:

1. Final Offering Documents

  1. Submit all final offering documents (PPM, Subscription Agreement, Accredited Investor Questionnaire, etc.) to IMS Support for coding to be used with electronic signature. Please submit all documents in MS Word format
  2. Please allow up to two business days to complete. Click here for more information or contact support@imscre.com for further assistance. 

2. Build Project

In IMS, the project must be built before a new offering can be posted. The project build must include the entity and class or classes that will be raising equity. It is ideal to build the entire org chart, however if this is not finalized you can rework the structure after the deal is closed.

The foundation of any offering is to first build the project.  An overview:

  1. Create Project
  2. Assign Asset
  3. Connect Entity
  4. Create Classes - It is our recommendation that any investors receiving payments in a similar manner via waterfall be grouped in a class. For example, a General Partner, a Limited Partner, or a Promote Partner. Each class may have its own individual sales offering. You can learn how to add investments here.

3. Decide Accreditation Method

There are two workflow methods in IMS to verify an investor’s accreditation. This is set up in the Class Preferences

  1. Self Accreditation: The most common option. If this is chosen, the investor will attest to their accreditation status if you choose the Investor Portal investment experience, however it is up to the Sponsor to determine and verify an investor’s accreditation. To choose this workflow, select the ‘Self-Accreditation’ option in the drop-down in the Class Preferences Menu.

  2. VerifyInvestor: This will route the investor to a 3rd party system, VerifyInvestor, that will require the investor to load supporting documentation to determine accreditation status after they have completed the IMS investment process. To choose this method, select the VerifyInvestor option in the Class Preferences menu. Note that since this option requires supporting materials and review, results can take up to several weeks.

    1. After the investor has supplied the necessary documentation and VerifyInvestor has certified the accreditation IMS will receive notification from VerifyInvestor on if an investor was successfully accredited or not. IMS will forward the email with the certificates on Monday, Wednesday, Friday of each week when received.

4. Choose an Investor Experience 

  1. Publish A Project Tile: The investor experience will involve logging in to the platform, selecting and existing or adding a new investment vehicle (Individual,401k, Entity, etc.), entering the investment amount, and electronically signing documents. This puts the responsibility on the investor to manually input the investment amount and to fill out all required fields. To view the investor workflow, go to the following link: Investment Wizard.

Below is the overview of what steps will be taken to publish a project tile on the Investor Dashboard.

Publish a Project Tile for the class within the entity that is raising equity (Should this be a Private Raise? Private raises will display the Project Tile only to a select group of investors)

  1. Update Tile metrics and build out the deal room
  2. Offering Documents should be added to the Class-level document folder and marked to be displayed on the Acknowledgements Page, Show Page, and marked for use with Docusign.
  3. If your documents call for countersignatures, please be sure these are set up properly in your account. 
  4. Set Minimum and Maximum Investment Amount and Increments within Class Preferences. Also set desired accreditation method on the Class Preferences page.
  5. Choose Funding Preferences.
  6. Setup Confirmation E-mail. This is an optional, automated e-mail that sends wiring instructions to the investor after they complete the documents. This will need to be enabled in Offering Preferences if choosing to utilize the VerifyInvestor Workflow.
  7. If needed, add Check and/or Wiring instructions to the Escrow tab of the Sales Offering.
  8. Publish Offering and Project. Please ensure that both are published, or it will not display on the investor dashboard.
  9. Test the new offering as an investor
    a. Create an individual investor profile for yourself to test. 
    b. Create an entity profile, a joint account, and a trust so that you can see how different investment vehicles will experience the document. Connect your individual profile to each as a Responsible Party and invite yourself to the investor portal.
    c. Login to the investor portal (do not masquerade as you will not be able to go through the entire offering process if you are not properly logged in).
    d. Navigate to the offerings page and select the desired offering.
    e. Follow the steps to make an investment and confirm the desired fields are populated and/or required in the electronic document.
    f. Repeat as necessary with other profile types to confirm proper setup.

 2. Invite to Invest: With Invite to Invest, the investor will not need to login to the investor platform. Instead the admin will enter the investment vehicle, the investment amount, and will email the electronic document to the investor for signature. The admin sets the investment vehicle and specifies the investment amount, and this cannot be changed by the investor during the Electronic Signature process. 

  1. Ensure all Investor CRM data is complete. Incomplete Investor Profiles will result in blank sections of the offering document. Investors will not be able to update their contact data directly on the document as this information auto-populates from the IMS CRM. Administrators will also need to be sure to select the correct investment vehicle as this will not be able to be updated once electronic documents are being signed. Include Tax ID/SSN if known.
  2. Populate committed amounts as pending investments within the respective class of your new deal. 
  3. Offering Documents should be added to the Class-level document folder and marked to be displayed on the Acknowledgements Page, Show Page, and marked for use with Docusign. If your documents call for countersignatures, please be sure these are set up properly in your account. 
  4. Setup Confirmation E-mail. This is an optional, automated e-mail that sends wiring instructions to an investor after they complete the offering documents via Electronic Signature. This will need to be enabled in Offering Preferences if choosing to utilize the VerifyInvestor Workflow.
  5. Add Check and/or Wiring instructions to the Escrow tab of the Sales Offering.
  6. Select the check box to the left of investors you would like to invite then click the Bulk Actions button at the top of the cap table and choose Invite to invest from the menu.
    Walk through Invite to Invest process by adding in a fake investment and sending the document to test. Please note that the Confirmation E-mail may take up to two hours to send.

Before sending out invitations to invest, keep in mind:
1. Only click the "Invite to Invest" option in the Bulk Actions menu once.
2. Make sure to update the “support” phone number in IMS admin to the correct internal contact information. Located under the ‘Profile & Preferences’ menu, then select ‘Admin Settings’.

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