I think not. $30K is for share purchase plans only.
This situation isn't a share purchase plan; it's sub-underwriting.
With sub-underwriting, you have to make a binding commitment in advance, and without the protection of a prospectus.
That's why it's limited to institutions and sophs.
More info:
LInk: Sub-underwriting
Example: DXB had sub-underwriting for their latest issue.
IMO the fundamentally unfair aspect is that soph status depends only on assets and not on passing a financial knowledge test.
Since when does having assets make someone wiser?
Meanwhile, non-sophs are free to "invest" in foreign exchange contracts for difference which are advertised on the radio.
Go figure.
IMO, happy to be corrected etc.
I think not. $30K is for share purchase plans only.This...
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