Private Placement Memorandum

Dear all,

I am in the process of launching my search fund in Spain and am currently working on my PPM. I have a couple of questions and would appreciate any insights:

Is the PPM template in Exhibit 3 of the Stanford Primer applicable for Spain? Is it necessary to have the company set up before completing the PPM (as the Primer refers to a "logo" and "name of your fund")? Thank you in advance, and I look forward to contributing to this community.

Best regards,

Alfonso