Accredited Investor

An accredited investor is an individual with a net worth, or joint net worth with their spouse that exceeds $1 million at the time of the purchase (excluding the value of their primary residence); or an individual with income exceeding $200,000 in the last two years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same in the current year; or a trust with assets in excess of $5 million, not formed to acquire the securities offered, whose purchases a sophisticated person makes.