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Avoiding Potential Pitfalls of Raising Capital

Avoid potential pitfalls when raising capital by learning how to utilize SEC Rule 506(c) and understanding the key elements of the crowdfunding regulation.

The Jumpstart Our Business Startups Act (the JOBS Act) became law on April 5, 2012, and was designed, in part, to enhance the raising of capital, especially by small or emerging businesses. As a result of the JOBS Act, the SEC promulgated new rules to facilitate capital formation. While these new rules enhance opportunities to raise capital, they create certain obstacles and pitfalls, and they do not eliminate the traditional methods in which companies have sought capital. This material will explore capital raising techniques authorized by the JOBS Act and also examine the interplay between these techniques and the traditional methods of capital formation which continue, for many small and mid-size companies, to be the preferred way of seeking capital. The effects of the JOBS Act on public company requirements and the issues raised by the current COVID-19 pandemic will also be discussed.

100 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Traditional Private Placements Are Alive and Well

  • Common Pre-JOBS Act Exemptions From Registration
  • Regulation D - Rule 506
  • Disclosure
  • General Advertising and Public Solicitation Prohibited
  • Integration of Offers
  • How Do You Lose the Exemption?
  • Resales of Restricted Securities

The JOBS Act - General Solicitation Now Permitted

  • SEC Rule 506(c) - How Often Used?
  • The Challenge of Verifying Accredited Investor Status
  • Rule 506(c) Does Not Eliminate the Traditional Private Placement

The JOBS Act - Crowdfunding

  • Section 4(a)(6) of the Securities Act
  • SEC Regulation Crowdfunding Rules
  • Key Elements of the Crowdfunding Rules

New Approaches to Capital by Emerging Growth Companies

  • Emerging Growth Company Defined
  • Enhanced Public Offering Process
  • Reduced Compliance Obligations

Other Issues of Note

  • Regulation A Offers
  • Registration and Deregistration for Public Companies
  • The Effect of COVID-19 in Capital Formation
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on January 26, 2021.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • ME CLE 1.5
     
  • NJ CLE 2.0
     
  • VT CLE 1.5
     
  • WV MCLE 2.0
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Michael D. Waters

Michael D. Waters

Jones Walker LLP

  • Partner in the Birmingham, Alabama office of Jones Walker LLP
  • Practiced in the corporate and securities area, primarily for financial institutions, for more than 35 years, representing banks, bank holding companies, and other financial entities in acquisitions, capital raising transactions, SEC and shareholder issues, new bank formations, and board fiduciary duty issues
  • Advised buyers and sellers in approximately 110 bank mergers and acquisitions, ranging from small community banks to the acquisition of a $34 billion holding company
  • Recognized in Chambers USA, banking, and finance annually since 2013
  • Recognized by Alabama Super Lawyers annually since 2008 for work in the banking and securities & corporate finance area
  • Named by Best Lawyers in America annually since 1995 for work in the area of banking and finance law, corporate law, and financial services regulation law
  • J.D. degree, University of Alabama School of Law; M.A. degree, Rhodes Scholar, Oxford University; B.A. degree, Duke University
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 407438
Published 2021
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