Guest post by Daniel DeWolf, Megan Gates, and Kaoru Suzuki – Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo PC
The world of raising capital has been evolving over the last several years. Offerings of securities generally used to fall into two main buckets: (i) private placements under the old Rule 506 or (ii) a public offering. With the implementation of various provisions of the JOBS Act now mostly complete, the array of choices has increased exponentially and include crowd funding, crowd sourcing by general solicitation for accredited investors, IPO light under the new Reg A+ rules, and confidentially submitted initial public offerings. No one size fits all and issuers, bankers, and legal counsel should look carefully as to the context of the situation to determine which format makes the most sense for a particular offering. We thought it might be helpful to provide a chart of the various alternatives for offerings now available.
Click on the chart to see full size.
Daniel I. DeWolf, Member Chair, Technology Practice Group, Co-Chair, Venture Capital and Emerging Companies
Daniel is Co-chair of the firm’s Venture Capital & Emerging Companies Practice Group and Chair of our Technology Practice Group. In addition to his active legal practice, he is an adjunct professor of law at the NYU Law School and he has a wealth of experience in private equity and venture capital, having co-founded Dawntreader Ventures, an early stage venture capital firm based in New York.
Megan N. Gates, Member
Megan is a member of the Firm’s Policy Committee and Co-chair of the Securities & Capital Markets Practice Group. She concentrates her practice on providing counsel to public companies with respect to public and private equity financings, merger and acquisition transactions, and compliance and disclosure obligations under the Securities Exchange Act of 1934.
Kaoru Suzki, Associate
Kaoru’s practice focuses on representing public and private clients on general corporate and securities matters, including mergers and acquisitions, venture capital, private equity, and securities transactions. He also counsels his clients on compliance with federal and state securities laws. Kaoru represents both funds and companies across various industries, including energy and clean technology, life sciences, high tech and information technology.