How to Close a Deal at Assure

WHAT WE NEED FROM INVESTORS

  • You can only use money from Completed investors when trying to purchase an asset and close the deal. You can see the completed total on the deal’s overview page. Here’s what it takes to move an investor from “Committed” to “Completed” in Glassboard: 

» Fund documents have been executed (OA, SA, W9/W8) – This is important because it is what gives Assure the legal authority to invest peoples’ money 

» Passed KYC/AML 

» Money was wired into the correct account 

» Each investor must be accredited 

  • The money must sit in the account overnight before it can be sent out again. » Note: checks can take up to 10 days to process 

HOW THE CLIENT CAN PREPARE 

  • Confirm if you are doing one close or plan to do multiple closings for your deal 
  • Prepare the asset purchase documents with the portfolio company ahead of time. If Assure is the manager, we will sign the purchase agreements with client approval. Assure has many signers so please keep the signer name as an editable field. Below is the signature block used if Assure is the manager of the SPV: 

Purchaser: [legal name of the SPV]  

By: Assure Fund Management II, LLC (Manager) 

Name:  

Title: Authorized Officer 

Contact info for all our SPVs: 

deals@assure.co 

PO Box 171305 

Salt Lake City, UT 84117 

Phone Number-801-419-0677 

 

HOW THE CLIENT CAN PREPARE (CONT.) 

  • Email us the wire instructions for the company with an explicit amount to send out and a requested wire date (we will not take this information over the phone) 

» We currently only wire out in USD. Please plan accordingly. 

  • Assure’s invoice is due at closing. We highly recommend taking the invoice out of the fund’s raise to ensure all fees are paid on time. If you would like to pay the fees outside of the fund, let us know early so we can invoice and give you time to pay. 
  • When Assure requests a wire, it is reviewed and approved by 5-7 different people before it can be confirmed. One of those people will give you a call to confirm the wire as an extra security measure if the wire is $100,000+. 

» International wires can take anywhere between 1-5 days to clear before the companies receive payment, so please build this into your schedule 

» We have a great wire system internally, but there are some cases where tech issues or other extraneous circumstances cause delays. Getting your wire request in a day early will ensure funds are received on time. 

  • Wire confirmations are usually available to Assure between 4-5 PM MST. With all of this in mind, please give deals@assure.co 2 business days' notice if your deal and all of the above data requests are completed, and 3-4 business days if there are multiple outstanding items that need to be addressed before closing. Rushing will result in a messy deal and an unpleasant experience.