“Regulation A” under the Securities Act permits a limited public offering which, although subject to a form of SEC registration and certain offering process requirements, is significantly less burdensome than full compliance with Securities Act public offering requirements. The utility of original Regulation A was seriously limited, however, by a $5 million maximum offering amount limit, and it became little used. The JOBS Act, however, breathed new life into Regulation A as a meaningful financing alternative for small issuers by directing modernization of its requirements and, most importantly, increasing the maximum offering amount to $50 million, through a two tiered
public offering structure.
This webinar presents a practical assessment of the utility of Regulation A as modernized by the JOBS Act into what is today dubbed by many as “Regulation A+.” As an entirely new form of public offering, the JOBS Act also introduced equity “crowdfunding” into the mix of corporate financing alternatives for small issuers, although one particularly aimed at start-up companies, and having significant limitations. In this episode panelists also discuss practicalities associated with equity crowdfunding, as now permitted by the JOBS Act, and provide guidance in determining the viability of both JOBS Act public offering alternatives for small issuers.
Robert N. Rapp is Visiting Assistant Professor of Law at the Case Western Reserve University School of Law, where he teaches Securities Regulation, Advanced Securities Regulation and Law, Theory and… Read More
Jillian Sidoti is one of the country’s leading experts on Regulation A+. Since 2008, Jillian has submitted multiple Regulation A Offering Circulars to the Securities Exchange Commission for approval making her… Read More