During the VIP Auction period, participants can make non-binding bids on a fractional share of the royalty stream. The number of royalty share units available will vary for each auction. Once all units have sold out at a certain price, it will automatically increase by $1 and allow for more bids on the total number of SongShares. This will repeat with price increasing until time runs out and more bids are made.

Bidders can place either HARD bids or PROXY bids. HARD bids are immediate bids at the current price for a specific number of units.A PROXY bid is when you set a  maximum price and the system will automatically bid for you if the price increases. SongVest’s auction platform shows bidders the current price and  bid status, and then will notify if they are outbid.

When the VIP Auction is over, the price will be set at the highest amount achieved when all were SOLD OUT. If only half of the units were sold at $26, then the final set price would be $25 per share. After the auction and SEC qualification, all participants with successful bids of SongShares will have the option to purchase the units before the general public offering!