May 4, 2019 You can use a Private Placement Memorandum or PPM for short, This may also force the investors to invest if they find it interesting or in their

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The SEC’s Office of Investor Education and Advocacy is issuing this Investor Bulletin to educate investors about investing in unregistered securities offerings, or private placements, under Regulation D of the Securities Act. Private Placement Memorandum UNICORN PAIRS FUND, LP Delaware Limited Partnership UNICORN CAPITAL PARTNERS, LLC General Partner, Investment Manager IN COMPLIANCE WITH SEC RULE 506(C), UNICORN PAIRS FUND, LP IS NOT REQUIRED TO REGISTER ITS OFFERING OF SECURITIES WITH THE SEC, BUT HAS FILED "FORM D" WITH THE SEC. THE SECURITIES BEING OFFERED HAVE NOT Search funds started slowly in the 1980s and then picked up steam in the ’90s and 2000s. Today, the median search fund spends 19 months looking for and acquiring a company, and raises $426,000 of SEARCH FUND ACQUISITION STATISTICS Total Number of Months From Start of Search to Deal Close All Acquisitions Minimum 5 Median 20 Maximum 50 0-10 Months 12% 11-20 Months 41% 21-30 Months 32% 31+ Months 15% Purchase Price Statistics All Acquisitions Minimum $ 0.6 M Median $ 7.9 M Maximum $ 30.6 M <$4M 17% $4M to $7M 34% Private Placement Memorandum 90512029.3 0064546-00001 INTRODUCTION Welcome to Worcester Fund LLC! The Fund will invest in and lend on real estate assets within the United States and primarily within Missouri and Kansas. The Fund’s investment strategy has been engineered to capitalize on the expertise and experience of its Manager’s principals. A survey of 25 recent traditionally-funded-searches averaged $425K for a solo search and $620K for two searchers. There is generally little or no investor push-back or negotiation on these terms which are set out in the searchers PPM (Private Placement Memorandum). Stages 3 and 4: Operation & Exit. After a company is acquired, the search fund entrepreneur typically assumes the helm of the company as CEO. The entrepreneur builds the company, creating value in one or more of the following ways: revenue growth, margin expansion, adroit capital structuring (i.e., use of leverage), bolt-on acquisitions, exit-multiple expansion, or product, channel, and

importance, such as PPM and unit-linked funds. 7. 2.3 Individuals' Hogarth Davies Lloyd is an international executive search firm specialised within Maintaining and improving the fund information that PPM provided to the This follows a search process conducted by the Fund's Board in light of Allianz Global Investors U.S. LLC's decision to transition away from the ppmselector-kotlin/src/test/resources/html/morningstar/funddetails.html. Go to file · Go to file T