Syndicating in CA with Section 25102(f) "Friends and Family"

[Jonathan Pflueger]

I am looking into a possible syndication deal and I was wondering if anyone has any experience with Section 25102(f) of the California Securities Code, sometimes called the “friends and family” offering? 

From what I understand, this CA exemption grants the issuer an exemption from securities qualification for certain limited securities offerings. Does anyone have experience how this works in a syndication deal? Positives and negatives?

Thanks ahead of time for any and all information.