Markets
Steven J. Muehler

Recently Banned Promoter Linked to Reg A Advance Fee Scheme (Part 1 of 3)

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A California securities offering promoter who was the subject of the very first SEC enforcement action taken against a participant in the newly reformed Reg A market has been linked to a group of websites claiming to offer capital-hungry companies and their investors a soup-to-nuts money raising experience in exchange for cash fees and shares, despite lacking the necessary securities licenses to do so legally, and in seeming defiance of a recent ban imposed by the agency.

Deals
Fundrise

Fundrise Parent Blows Out Reg A Offer

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Rise Companies, the holding company for the Fundrise online real estate crowdfinance platform, has broken a record for funds raised in a Regulation A Tier 2 offering, pulling in $14.6 million in 24 hours of initial selling.

The company’s initial offering filing on December 29 for a maximum raise of $10 million was approved by the Securities and Exchange Commission in just 30 days. The company began selling shares on February 1. To accelerate the process only investors who had previously invested in Fundrise deals or were early investors in the company were allowed to participate in the offer.