In order to be considered an accredited investor, as defined by the SEC’s Rule 501(a) of Regulation D, an investor had to qualify under at least one of the following:
- As an individual, have an annual income and net worth of $200,000.
- With a spouse, have an annual income and net worth of $300,000 in each of the two most recent years, with an expectation of reaching the same income level in the current year.
- Either individually or jointly with a spouse, have a net worth of $1 million, excluding the positive equity in such person’s primary residence.
- Be a general partner, executive officer, director, or a related combination thereof for the issuer of a security being offered.