Investee Companies are not able to make any offer of their Loans (or shares after conversion) through the Future Fund portal.
The Application process is Investor-led and the parties Investors (other than the Future Fund) and the Investee Company will need to have already decided to apply for a matching Loan from the Future Fund before submitting an Application. This portal does not contain any information on any particular Investors or Investee Companies who may choose to participate in the Future Fund scheme.
It is possible that Investee Companies and Investors may need to have regard to relevant securities offering laws in the United Kingdom or in other markets in relation to their activities prior to making an Application on this portal and thereafter.
A limit of 147 Other Investors (in addition to the Future Fund and the Lead Investor) has been included in the Application process to ensure that a Convertible Loan Agreement is always entered into by fewer than 150 persons. This is to ensure that this portal does not inadvertently trigger a requirement for the publication of a prospectus by the Investee Company, but no guarantee is provided that this is the case and Investors and Investee Companies are solely responsible for compliance with all applicable securities laws (including in the United Kingdom). In particular, it is the responsibility of Investee Companies looking to consider this limit when seeking further investment from additional investors after the Convertible Loan Agreement is completed as between Investors and Investee Company.
All Investors and Investee Companies should therefore seek independent advice on the legal, regulatory, financial, accounting and tax consequences of making or participating in an Application and entering into a Convertible Loan Agreement from their respective advisers. No advice is given as to the suitability of any action for any Investor or Investee Company concerned.