To finalize an SPV, meaning the organizer uses the funds received from investors to purchase an asset. Upon completing the purchase, the SPV executes a purchase agreement and is listed on the relevant company’s or project’s capitalization table. The closing of an SPV triggers several required actions, including countersigning SPV fund documents, generating capital account statements, filing a Form D with the SEC, submitting Blue Sky filings and payments, determining if a second close is necessary, addressing any remaining funds in the bank account, and creating the SPV’s cap table. The closing of an SPV is often considered a taxable event.