The JOBS Act, signed into law on April 5, 2012, is intended to stimulate job creation and economic growth by improving access to the capital markets for smaller companies. In an effort to facilitate capital-raising for private companies, the JOBS Act created a new class of issuer known as an “emerging growth company,” or an EGC. As described in greater detail below, EGCs are afforded certain benefits in the initial public offering (IPO) process, including the ability to make confidential submissions of registration statements, loosened restrictions on investor communications, and the option to comply with scaled disclosure requirements. These changes are effective immediately.