Public offerings like the ones on NextSeed require public disclosures. In addition to the campaign page itself, your Data Room should capture critical legal documents that would inform investors about the state of the business, the potential risks and altogether what they are investing in.
1) All campaigns require the Disclosure Statement, while Reg D offerings require different types of additional legal forms. The Disclosure Statement should capture the business’s current state, future projections and potential risks in the business. Financial disclosures about the entity raising the funds (not your personal financials or other business financials) include a balance sheet and income statement, the current capitalization table, the intended use of proceeds, and pro formas to give potential investors how you are projecting the business’s future. Risk disclosures also give investors a better understanding of the risks of the business and industry to make an informed investment. After your campaign is closed, the Data Room is removed from the NextSeed page. This information is filed with the SEC, which is publicly available.
2) After your campaign is successfully funded, there will be annual reporting requirements that may need to be filed with the SEC, which is publicly available, and posted on your website.