Depending on applicable regulations or business limitations, specific API requests may not be available for your use.

Update a Private Placement Offer

This request updates a private placement offer. Only a subset of the offer fields can be updated including offer setting and eligibility. Issuer information cannot be updated by API. Offer management such as close, cancel, and execution of offer can be done by updating the status field.

Request URL

Syntax PUT /restapi/privateplacementoffers/{privateplacementofferoid}
Example URL https://api.uat.foliofn.com/restapi/privateplacementoffers/4683743612465316027

Error Code

Please refer to Error Code for the error codes that can be returned from this API.

Request Data Fields

This table includes the fields that can be updated. Other fields that are defined in Get a Private Placement Offer, but not listed here cannot be updated.

Field Description
blueSkyedStates The states whose residents are allowed to invest to the offer.
clientsHaveAccess A Boolean indicator of whether advised clients can directly access this offer in the list of offers provided by the firm. “true” indicates that clients have access; “false” indicates only investment professionals have access.
corporateAccreditationSetting

The qualification for Qualified Institutional Buyers (QIB) for the eligibility to the offer.

Please refer to Corporate Accreditation Setting Code for available codes.

daysFromClosingCashIsRequired

The number of days from the offer closing date that cash must be available in the account for which the investors subscribe to the offer.

For example, if closingDate is 01/31/2014 and daysFromClosingCashIsRequired is 1, cash must be available until 01/30/2014 in the account. If daysFromClosingCashIsRequired is 0, cash is required until the closing date. Cash required date cannot be update to a date earlier than the original date. Therefore, daysFromClosingCashIsRequired cannot be larger than the original value. (e.g., If daysFromClosingCashIsRequired is 10, it cannot be changed to 15. The allowable time frame for daysFromClosingCashIsRequired can only be shortened to 9 or fewer days.)

*This value cannot currently be changed from zero (“0”).

documentationExternal A Boolean indicator of whether the documents such as the private placement memorandum or the subscription agreement will be provided and audited outside of the FOLIOfn platform. “true” indicates documents will be handled outside of the Folio platform; “false” indicates documents will be provided and audited through the Folio platform.
maximumInvestmentAmount The maximum investment amount per investor. The maximum investment amount cannot be less than $0.01.
minimumAnnualIncomeRange

The minimum annual income range of investors to be eligible to the offer.

Please refer to Annual Income Range Code for available codes.

minimumLiquidNetWorthRange

The minimum liquid net worth range of investors to be eligible to the offer.

Please refer to Liquid Net Worth Range Code for available codes.

minimumNetWorthRange

The minimum net worth range of investors to be eligible to the offer.

Please refer to Net Worth Range Code for available codes.

naturalPersonAccreditationSetting

The accreditation criteria for individual investors to be eligible to invest to the offer. This cannot be adjusted to be in conflict with the allowable accreditation criteria of the indicated exemption.

Please refer to Accreditation Setting Code for available codes.

Please refer to the Private Placement Exemption Rules for specifics for each exemption.

offerStatus

Cancel, close, and execute the offer. Use “IN_PROGRESS” to execute an offer, “CLOSED_CANCELLED” to cancel pending orders and close an offer, and “CLOSED_INCOMPLETE” to close an offer without cancelling pending orders. Offer execution can be executed only when the total approved subscription amount reaches offerMinimum on or after the cash required date. If there are no pending orders when the requested status is “CLOSED_INCOMPLETE”, the status changes to “CLOSED_COMPLETE”.

Please refer to Private Placement Offer Status for available codes.

participatingFirms The list of firms that are invited to participate in the offer.
participatingFirms.participatingFirmId The firm ID of the participating firm.
participatingFirms.participatingFirmStatus

Add and delete participating firms. Use “ACCEPTED” for addition and “DELETE” for deletion of a firm.

Please refer to Participating Firm Status Code for available codes.

physicalSignatureRequired A Boolean indicator of whether physical signature for subscription agreement is required. “true” indicates physical signature is required. “false” indicates e-signature is all that is required. In practice, this facilitates an additional message field is displayed to the investor indicating the issuer’s requirement of a wet signature.
previousExperienceSetting

Requirement for previous experience of private placement of investors.

Please refer to Previous Experience Setting for available codes.

published

A binary indicator whether the offer was published at the time of offer creation. “true” or “false”. “false” still results in the offer being created, but it will not be available for subscription until it is in a published, “true”, state.

The published indicator may only change from “true” to “false” if there are no subscriptions submitted for the offer.

privatePlacementOfferOid The unique identifier of the private placement offer. If this field is given, the value must be the same as the offeroid in the URL.

Request Example for Offer Fields Change


PUT /restapi/privateplacementoffers/4683743612465316027 HTTP/1.1
Content-Type: application/json
{
   "blueSkyedStates":[ "VA", "CA" ],
   "clientsHaveAccess":“true”,
   "corporateAccreditationSetting":"C",
   "daysFromClosingCashIsRequired":"0",
   "documentationExternal":“true”,
   "maximumInvestmentAmount":"100000",
   "minimumAnnualIncomeRange":"1",
   "minimumLiquidNetWorthRange":"1",
   "minimumNetWorthRange":"1",
   "naturalPersonAccreditationSetting":"C",
   "participatingFirms" : [ {
        "participatingFirmId" : "POWERINVESTING",
        "participatingFirmStatus" : "A"
   }, {
        "participatingFirmId" : "SMARTINVESTING",
        "participatingFirmStatus" : "D"
   } ],
   "physicalSignatureRequired":“false”,
   "previousExperienceSetting":"A",
   "published":“true”,
}

Request Example for Offer Status Change

PUT /restapi/privateplacementoffers/4683743612465316027 HTTP/1.1
Content-Type: application/json
{
   "offerStatus":"2",
}

Response Example

HTTP/1.1 200 OK
X-Powered-By: Servlet/2.5
Server: Sun GlassFish Enterprise Server v2.1.1
Location: https://api.uat.foliofn.com/restapi/privateplacementoffers/4683743612465316027
Content-Type: text/html; charset=iso-8859-1
Content-Length: 0
Date: Wed, 19 Feb 2014 19:18:58 GMT


Change Log

12/01/2017

  1. Fix syntax error: replace corproateAccreditationSetting to corporateAccreditationSetting

07/22/2016

  1. Updated Example URL

04/29/2016

  1. Added Change Log

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