You’ve got this backwards. Anyone can sell securities to any investor if the company they’re selling shares in can commit to providing regular audited financial disclosures showing they’re not frauds. It’s on the product being brought to market to show it’s fit for sale, not for the investor to show they’re “sophisticated.” If they show they’re sophisticated they can elect to waive the reporting requirements. You could do this for your personal C Corp, it’s just a lot of overhead you may deem not a good use of capital.
Kik is choosing not to become a “public” company in that they don’t want to file disclosures. They’re trying to circumvent the rules that show they’re operating above board.
Kik is choosing not to become a “public” company in that they don’t want to file disclosures. They’re trying to circumvent the rules that show they’re operating above board.