The Securities and Exchange Commission held its annual open meeting on November 17 seeking feedback from dealmakers in the emerging growth finance market on the impact of newly enacted reforms to Regulation A on capital formation by small businesses. Speakers on the main morning panel said they thought the Reg A offering review process with SEC staff was going smoothly, but offered a wish list of changes, such as raising the $50 million offering cap and getting rid of the initial audit.
Since the implementation of the new mini-IPO offering structure in late June 2015 through the end of October, issuers have filed to conduct 147 Reg A offerings seeking an aggregate of over $2.63 billion of capital, for an average of approximately $18 million per offering according to data collected by the SEC.
Element Partners, a leading investor in sustainability technology, has announced the opening of a San Francisco office and the addition of Raj Atluru and Anup Jacob as General Partners and Managing Directors.
The Securities and Exchange Commission voted on October 25 to ease two rules on intrastate securities offerings in an effort to help capital formation for emerging growth companies raising funds intrastate.
Veteran emerging growth company deal attorney Richard Friedman has left Sichenzia, Ross, Friedman & Ference with three other attorneys in the firm's securities practice to join Sheppard, Mullin, Richter & Hampton's New York office.