Extract to table

Summary Recommendation: Comprehensive, prominent disclosure of Osprey's engagement, compensation structure, regulatory status, and any material relationships must be included in the PPM

Specific and time-sensitive compliance steps must be taken with respect to governmental plan investors, particularly the Northmoor State Pension System

However, the engagement of a placement agent and the terms of its compensation are material facts that must be disclosed to prospective investors

If Osprey has engaged or intends to engage any sub-placement agent or third-party solicitor, such person must be a registered broker-dealer and FINRA member (or fall within one of the narrow exceptions to the registration requirement)

Calderwood & Harkness LLP must undertake a thorough review of the following: (i) Northmoor State Statutes and Regulations

We must identify and obtain any such forms required by the Northmoor State Pension System