It’s pretty common for issuers in follow-on offerings to solicit investors from previous rounds first. Indeed, doing so is often mandatory when early investors have preemptive rights. ...more
2/16/2021
/ Accredited Investors ,
Capital Raising ,
Crowdfunding ,
Financial Regulatory Reform ,
JOBS Act ,
Regulation D ,
Rule 506 Offerings ,
Rule 506(c) ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Venture Capital
You just raised $1 million in your crowdfunding offering under Title III/Regulation CF. That’s the good news. The bad news? You now have over a thousand shareholders on your cap table, making it unwieldy, an administrative...more
Last month, The Securities and Exchange Commission passed sweeping reforms of the rules governing exempt offerings (the “2020 Reforms”) to make it easier for issuers to move from one exemption to another, to bring clarity and...more
The Securities and Exchange Commission is proposing to expand the definition of “accredited investor” to include additional entities that could bear the economic risks of investment and certain financially sophisticated...more
1/22/2020
/ 501(c)(3) ,
Accredited Investors ,
Broker-Dealer ,
Business Development Companies ,
Capital Formation ,
Comment Period ,
Corporate Issuers ,
Crowdfunding ,
Financial Regulatory Reform ,
General Solicitation ,
Investors ,
Limited Liability Company (LLC) ,
Offerings ,
Private Offerings ,
Registered Investment Advisors ,
Regulation A ,
Regulation D ,
Regulatory Oversight ,
Regulatory Requirements ,
Rule 144A ,
Rule 506 Offerings ,
Rulemaking Process ,
Rural Business Investment Companies (RBICs) ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Statements of Net Worth ,
Venture Capital
On December 19, 2018, the Securities and Exchange Commission issued final rules to permit reporting companies under the Securities Exchange Act to offer securities under Regulation A (affectionately referred to often as...more
12/27/2018
/ Capital Formation ,
Capital Markets ,
Economic Growth Regulatory Relief and Consumer Protection Act ,
Emerging Growth Companies ,
Final Rules ,
Financial Regulatory Reform ,
Public Offerings ,
Publicly-Traded Companies ,
Regulation A ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act
t’s not often that the House of Representatives votes nearly unanimously on anything noteworthy these days, but that’s exactly what the House did on July 17 in voting 406-4 for the “JOBS and Investor Confidence Act of...more
7/24/2018
/ Accredited Investors ,
Angel Investors ,
Capital Formation ,
Capital Raising ,
Crowdfunding ,
Early Stage Companies ,
Equity Markets ,
Financial Regulatory Reform ,
General Solicitation ,
JOBS Act ,
Legislative Agendas ,
Offerings ,
Proposed Legislation ,
Regulation D ,
Securities and Exchange Commission (SEC) ,
Special Purpose Vehicles ,
Venture Capital
On June 28, 2018, the Securities and Exchange Commission issued a release amending the definition of “smaller reporting company” (“SRC”) to expand the number of reporting companies eligible for relaxed or scaled disclosure....more
7/16/2018
/ Accelerated Filers ,
Attestation Deadlines ,
Auditors ,
Disclosure Requirements ,
Executive Compensation ,
Financial Regulatory Reform ,
Regulation S-X ,
Regulatory Oversight ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Smaller Reporting Companies ,
State and Local Government
Buried in new legislation mainly intended to ease Dodd-Frank restrictions on small banks is an expansion of Regulation A eligibility to include SEC reporting companies. ...more
6/11/2018
/ Capital Formation ,
Corporate Issuers ,
Dodd-Frank ,
Economic Growth Regulatory Relief and Consumer Protection Act ,
Financial Regulatory Reform ,
Form S-3 ,
Initial Public Offering (IPO) ,
New Legislation ,
Publicly-Traded Companies ,
Regulation A ,
Reporting Requirements ,
Securities and Exchange Commission (SEC)
On June 8, 2017, the House of Representatives passed the Financial CHOICE Act of 2017 on a vote of 233-186. Congress loves acronyms, and here “CHOICE” stands for Creating Hope and Opportunity for Investors, Consumers and...more
6/26/2017
/ Consumer Financial Protection Bureau (CFPB) ,
Crowdfunding ,
Dodd-Frank ,
Emerging Growth Companies ,
Financial Regulatory Reform ,
Form D Filing ,
Pending Legislation ,
Regulation D ,
Regulatory Oversight ,
Sarbanes-Oxley ,
Securities and Exchange Commission (SEC) ,
Small Offering Exemptions