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Overview
Prospective offerings are used by Monark to gauge investor interest in pre-IPO companies at different terms, valuations, and structures. The data returned within any individual prospective offering mirrors an actionable deal that Monark has access to. Investors can submit indications of interest against prospective offerings through the /v2/indication-of-interest endpoint and setting the targetAssetType = ProspectiveOffering.
Note: IOIs submitted against Prospective Offerings can be edited at any point in time, however, once the PO is no longer returned through the APIs, all associated IOIs should be removed from investors' frontends.
How Prospective Offerings are Used
Monark will take the indications of interest submitted against the Prospective Offerings to determine which sources of supply will be converted into actionable investment opportunities. When a Prospective Offering turns into an actionable investment opportunity, it becomes a PreIPOCompany SPV.
Notifying Investors
When a Prospective Offering becomes an SPV, the ID of the Prospective Offering is linked in the associated SPV. You can fetch the SPV and look for the prospectiveOfferingId
When an SPV goes live and is linked to a Prospective Offering, you should look for the investors that submitted IOIs against the Prospective Offering and send them notifications informing them that there is an actionable investment opportunity. Converting Prospective Offering IOIs into Subscriptions in SPVs has proven to be a very powerful investor activation strategy.
Close Date Logic
Please note that IOIs can be submitted against Prospective Offerings. However, Prospective Offerings are ephemeral objects, meaning that they have a certain lifecycle. When a Prospective Offering no longer is returned through the APIs, is means that the actionable deal represented by the Prospective Offering is no longer available in the open market. At this point, you should not submit more IOIs against the Prospective Offering, and all outstanding IOIs should be removed from clients' frontends.