On April 5, 2012, President Obama signed into law the “Jumpstart Our Business Startups Act” (JOBS Act). The JOBS Act is intended to facilitate the creation of new jobs by easing securities law burdens on capital-raising activities by smaller companies. One of the bills included in Title IV—Small Company Capital Formation—requires the Securities and Exchange Commission (SEC) to create a new exemption from registration, similar to existing Regulation A, but with an increased offering amount and additional conditions.