A Crowd Sourced Funding (CSF) Offer Document is an official document released by a company issuing shares through a Crowd Sourced Funding investment offer.

Birchal often refers to this document as the Offer Document and is available to download in the Invest tab in the Investment Offer Details section and when making an investment (on Step 2). 

The document outlines key information about the company and their offer to sell shares. ASIC sets out the minimum required information that must be included in a company's offer document. Some of the key information specified in an offer document includes but is not limited to:

  • The company (Who runs it, how long, what industry they're in etc).

  • The specifics of the offer (Minimum investment, how much equity is given up, past raising of the company, valuation etc).

  • Financial records/disclosures.

  • What the funds raised will be used for.

  • Any other relevant information.

We encourage all potential investors to download and review the CSF Offer Document from a company before deciding to make an investment.

Replacement Offer Document
In simple terms, a Replacement Offer Document is an up-to-date Offer Document. When changes are required to the Offer Document (and after the Investment Offer opens) - a Replacement Offer document must be published to replace the original. The Offer Document will then be referred to as the 'Replacement Offer Document' until the offer closes.


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