Emerging Markets Law

Showing 3 posts from December 2015.

What is an Accredited Investor?

Posted In SEC, Securities

Investors in start-ups and growing small and medium-sized businesses (“SMBs”) are familiar with the definition of “accredited investor.” Regulation D, the primary SEC regulation that creates a safe harbor for exempt securities offerings by private companies, allows greater latitude for issuers that sell their securities to “accredited investors.” As a consequence, many exempt offerings are intentionally limited to only accredited investors.

What is familiar may soon change, however, if the Securities and Exchange Commission (SEC) acts on recommendations of its staff published in a report last week that would change the meaning of “accredited investor.”

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SEC Opens Testing Site For Crowdfund Filings

Posted In Crowdfunding

The SEC announced today that it was opening its EDGAR filing website for companies to make test filings under the SEC's new crowdfunding regulations.  

Under new SEC rules that take effect on May 16, 2016, companies will be permitted to offer and sell securities through crowdfunding. Companies seeking to conduct a crowdfunding offering using the new rules must file the required disclosures about the offering on a new Form C on EDGAR, the SEC’s electronic document filing system. Filers are now able to submit test filings on the new form. The test filings will be accepted until February 29, 2016, and are intended to help prospective issuers become more familiar with the mechanics of the filing process in advance of a crowdfunding offering.

Continue reading SEC Opens Testing Site For Crowdfund Filings ›

What In-House Counsel Need to Know about Blank Check IPOs

Please check out my article on What In-House Counsel Need to Know about Blank Check IPOs in the most recent issue of Corporate Counsel magazine

Blank check IPOs are companies that have gone public with the express purpose of acquiring other companies. The targets of their takeover interest, which may have in-house counsel, need to be aware of some of their unique aspects when negotiating a possible takeover. 

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