IFLR’s A Deep Dive into Capital Raising Alternatives, published today, provides an overview of the Jumpstart Our Business Startups (JOBS) Act, including the IPO on-ramp provisions, Regulation A, Regulation Crowdfunding, changes to the Securities Exchange Act of 1934 threshold for US Securities and Exchange Commission (SEC) reporting, and the changes eliminating the prohibition against general solicitation in connection with certain exempt offerings.
The book, authored by lawyers at Mayer Brown, provides context on the changes in market structure and market dynamics that led to the enactment of the JOBS Act: specifically, the trend for many private companies to remain private longer, defer or dispense with traditional IPOs in the United States, and rely on private capital to fund their growth.
We discuss reliance on the JOBS Act to undertake an IPO, including the IPO process and practices adopted by emerging growth companies.
The book contains important updates, including the changes that the SEC has adopted since the JOBS Act essentially extends many of its most popular elements – confidential submissions and test-the-waters communications – to all issuers, as well as changes brought about by the Fixing America's Surface Transportation (FAST) Act, and as a result of the SEC Division of Corporation Finance’s disclosure effectiveness amendment.
We also provide updates on the recent changes to the definition of accredited investor and qualified institutional buyer, and proposed changes to the SEC’s legal framework for exempt offerings.
Finally, the book offers insights into alternative approaches to becoming a public company, including direct listings and merging into special purpose acquisition companies (SPACs).
Download IFLR and Mayer Brown’s new book A Deep Dive into Capital Raising Alternatives today.
We are also pleased to announce and invite you to two upcoming webinars, where IFLR, Mayer Brown and a panel of guest speakers will discuss the topics and issues addressed in our new publication. Click the links below to sign up, free of charge.
- November 17 2020 - 11:00am EST (60 min)
- December 1 2020 - 11:00am EST (60 min)