Since they're actually investing in an LLC, the rules (search "506 offering") would be the same. It can only be "sophisticated" investors and no more than 35 c

Since they're actually investing in an LLC, the rules (search "506 offering") would be the same. It can only be "sophisticated" investors and no more than 35 can be non-accredited. Note that there can be no solicitation or advertising of the offering to the general public. In practice, as you can see, this means you can leak all the details to Bloomberg but then cannot comment for the story. Because, you see, that would be solicitation.