Frequently Asked Questions

What is FirstPEX?

FirstPEX is an online information and auction platform for buyers, sellers and service providers to interact and trade in PRIVATE EQUITY and NON-LISTED SHARES. It provides:

How does FirstPEX work?

Just think of FirstPEX as the primary auction site of private equity. Registering your basic profile is simple and quick (less than 30 seconds); you then have the following options:

1. As a SELLER, you can auction your shares:

2. As a BUYER, you can browse for and participate in an auction:

3. As a SERVICE PROVIDER, you can offer valuable advice to the FirstPEX community to help them:

Lastly, as a registered VISITOR, you may also just want to get a feeling of the activities that take place on FirstPEX before you make up your mind on whether you want to join actively or not. Or maybe you wish to contribute to the community by writing your own article(s) that may be selected for appearance on our news bulletin.

Who can become a member?

Anyone can become a member of FirstPEX. Individuals and companies from almost any country can initiate their auctions whenever they choose to. The same applies for service providers who can advertise their specialties and promote their expertise in our community.

Membership for a Buyer (investor) account is restricted to Europe and Switzerland at this point and is only available to accredited applicants who are approved by our compliance team. We are currently working on making the platform available in other jurisdictions and hence open to more investors.

How can I auction my shares on FirstPEX?

Very simply. Once you have (quickly) registered, from your dashboard you can create your company profile. Once that is done you can click on ‘Auction’, ‘Create A New Auction’, and fill out all the required fields. If, however, your company is already listed in FirstPEX’s database, then you don’t have to create if from scratch; your auction will be reviewed by our auditors for acceptance. This usually takes no longer than 2 working day.

If your company has not been registered yet, then you will be asked to provide some basic information on the company (or project). In that case, your auction will be reviewed by our auditors together with your company/project information for acceptance.

Remember that you will be pitching your shares for sale in an auction process; so the more qualitative information that you provide, the better investors will be able to gauge the attractiveness of your auction. You will have the possibility to upload documents, presentations, logos and pictures.

What is the cost?

Membership

- As a Seller, you can auction your shares during 1 month (CHF 75), 3 months (CHF 195) or 12 months (CHF 345)

- As a Service Provider, you can promote your services for 3 months (CHF 450), 6 months (CHF 800) or 12 months (CHF 1’400)

- As a Preferred Service Providers, you can promote your services for 3 months (CHF 1’350), 6 months (CHF 2’400) or 12 months (CHF 4’200). The VIP package includes:

- As a Buyer, the membership is free of charge.

Auction

- In the event of a successful auction, FirstPEX receives a 1.75% transaction fee

- To ensure that our Sellers receive authentic bids for their auctions, a 1.75% commitment fee will be set aside by the bidders on an independent escrow Account

- The auction winner will pay the Seller the auction price minus the 1.75% commitment fee. All other unsuccessful bidders will be released of their 1.75% commitment fee from the escrow account immediately when the auction is terminated

- If a commitment fee exceeds CHF 5’000, then the auction will be followed by FirstPEX’s VIP team

I have accepted a bid for my auction, what happens next?

This means that you have entered in a legally binding pre-sales contract with the Buyer. Both you and the Buyer will receive a confirmation from FirstPEX to that effect so that you may then settle the transaction through your respective legal advisors. FirstPEX is not involved in the offline settlement process but we will be happy to recommend you a partner or a Service Provider that specializes in this part of the transactions.

I’m interested in both selling and buying equity, does FirstPEX support this?

Yes, you can be an approved Buyer and at the same time launch your own auction. If on top of that you wish to advertise your company as a Service Provider, go for it!

What checks do you undertake for member applications?

Buyer applications are verified to ensure the applicant meets the requirements of a qualified investor as outlined in the platform's General Terms and Conditions. In some cases, it is possible that we engage in a direct dialogue (in writing or by phone) with new Buyer members to verify and confirm their status.

Auctions and new companies/projects are screened by our in-house compliance team to ensure all the data supplied corresponds best to reality.

BUYER QUESTIONS

Can anyone see my contact details?

Members will only see your basic details, which you may keep confidential, such as only showing our initials. We protect all our members’ data vigorously as confidentiality is very important to us.

How do I contact the Seller with any questions I may have?

When you find an interesting auction and need additional information, you may contact the Seller for the first time via FirstPEX’s open Q&A page. You may have questions that other investors or members could raise too, therefore the communication on each auction is open.

Once you have submitted a bid, and therefore have committed yourself to the corresponding auction, you may then engage in private conversations with the seller.

After this initial contact is established, FirstPEX encourages Sellers and potential Buyers to communicate with each other directly and even to meet physically. The FirstPEX team and our Service Providers will gladly guide you in the pre-due diligence phase.

What if I decide to circumvent FirstPEX?

We rely on professional and ethical behavior of our members. We have a value proposition for our three member categories and we kindly request that you honor an honest code of conduct. We don’t ask for much when it comes to fees and we cannot forfeit such revenues if we want to sustain and constantly improve the community you all benefit from. That said, if we find out that FirstPEX has been circumvented intentionally we will take the necessary measures both offline and online to rectify the situation in a fair way.

SELLER QUESTIONS

Who sees my auction?

Limited information concerning your auction is visible to all members. Only qualified investors have access to the full details of your auction and have the ability to place a bid.

Can I launch more than one auction?

Yes. Each auction will need to be approved individually by our moderators and each business will be treated as a separate auction.

What happens if I reject an offer?

Nothing. Your auction will still be listed and you will await further bids.

Do I need to work with one Investor or can I choose to work with multiple Investors?

It’s entirely up to you. When you register your auction, you may opt to allow your shares to be sold to only one Buyer or you may choose to allow multiple Buyers with a minimum number of shares for which they may bid.

What if the deal falls through?

In the event that an agreed deal falls through you should contact us directly to discuss the details. We will then be able to determine whether your auction should be re-issued. We may not involve ourselves as mediators and these issues should be handled by your company solicitor.

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