The initial offering period is the period on which the first investors are allow to purchase shares in a hedge fund at the initial subscription price. For a hedge fund this is typically one month and the initial subscription price is $100.1. Before the start of the period, all the fund and manager documents, licenses, registrations, bank accounts, etc, should be completed.
2.  During the initial offering period, the first prospective investors can review and sign the Subscription Documents, and transfer their investments to the fund’s subscription account.
3. After the Initial Offering period, prospective investors who wish to invest in the fund will be able to buy shares each subsequent Subscription Day (typically each month) at the current price per share (NAV) on that Subscription Day.

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