What is a PIA?

A PIA is a Private Investment Agreement. CERES Coin LLC’s PIA was specifically designed to adhere to existing applicable securities laws concerning both the initial private sale of the PIAs and the respective rights of the PIA holders to later convert them into Tokens. Further, while the SEC has not given any formal approval, or otherwise endorsed the merits, of our PIA, the PIA form was developed by our counsel in direct cooperation with current SEC staff members.

Who is eligible to invest through the Private Investment Agreement?

Only Accredited Investors can invest, which means you must meet certain thresholds as defined by the Securities and Exchange Commission under rule 501 of Regulation D. In order to qualify as an accredited investor, you must meet one of the following:

  • Earn an annual income per individual of over $200,000 per year ($300,000 per couple) with the expectation of maintaining such level of income in the future.
  • Have a net worth of more than $1 million (individually or jointly), excluding the value of a primary residence.
  • Be a bank, insurance company, registered investment advisor, business development company, or small business investment company.
  • Be a general partner, executive officer, director or a related combination thereof for the issuer of a security being offered.
  • Be a business in which all the equity owners are accredited investors.
  • Be an employee benefit plan, a trust, charitable organization, partnership, or company with total assets in excess of $5 million.

SEC: Accredited Investor Definition  What is a PIA? (PDF)