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A subscription agreement is needed to buy stock in a private placement, ensuring you've read and understand the private placement, are qualified, and commit to buying stock or joining a partnership. It is essential when raising money and investing in hedge funds or private entities. Make sure to reference the Private Placement Memorandum (PPM) and other agreements related to investing your money. This agreement is crucial for startups or private companies looking to raise funds. Todd Ault has utilized subscription agreements extensively over the last 30 years to secure millions of dollars in investments.