After a long delay, final rules approved by the Securities and Exchange Commission (SEC) have made their way over to the Federal Register. By being published in the Federal Register, the clock begins ticking as to when the new rules become available to use by… Read More
Doug Ellenoff, the Managing Partner of Manhattan law firm Ellenoff, Grossman and Schole (EGS), has been involved with the Fintech sector since the early days of the JOBS Act – the legislation that eventually legalized investment crowdfunding. He is not only deeply engaged with… Read More
Yesterday, the Securities and Exchange Commission updated rules affecting the exempt offering ecosystem. Many of the changes impact online capital formation and the regulatory environment that issuers may leverage to raise capital online and the ability of platforms to assist in these securities offerings. The… Read More
During an open meeting of the Securities and Exchange Commission (SEC), the Commission approved updates to the exempt offering ecosystem that are designed to improve access to capital, boost access to greater opportunity for investors while maintaining important investor protection criteria. In a party-line vote,… Read More
Its official, the “accredited investor” definition, which has not changed significantly since its enactment almost 40 years ago, has been massively upgraded. On August 26, 2020, the Securities and Exchange Commission (“SEC”) adopted final amendments to the “accredited investor” definition which fundamentally change and broaden… Read More
Republic Note, a profit-sharing digital asset launched by the crowdfunding ecosystem Republic, has reportedly generated solid interest – apparently in excess of its stated $8 million goal. According to reports, Republic Not has surpassed $10 million after launching live last week. Republic Note, The… Read More
Manhattan Street Capital, best known for its Reg A+ securities offerings, is pitching shares in Impossible Foods, a competitor to Beyond Meat (NASDAQ:BYND). As you probably know, Beyond Meat went public in mid-2019 raising about $240 million on a valuation of $1.5 billion. Shares were… Read More
Emin Gün Sirer‘s Ava Labs Avalanche token sale has raised $12 million led by Initialized Capital and other well-known investors including Galaxy Digital, Bitmain, NGC Ventures, and Dragonfly Capital. Avalanche (previously AVA) has recently gone through a brand consolidation following the successful launch of its… Read More
Incentivize Affordable Housing through Crowdfunding Liberalization for Community Investors In recent decades, increases in urban employment and population have outpaced residential development in U.S. cities. Nationwide, from 1974 through 2008, the number of new homes exceeded the number of new households. But since 2009, the… Read More
Republic, a leading investment crowdfunding platform, has announced the offering of Republic Note – scheduled to go on sale July 16, 2020. Republic Note is a profit-sharing token with a funding cap of $8 million. According to the company, Republic Note is in line with… Read More
In May, the Securities and Exchange Commission (SEC) Small Business Capital Formation Advisory Committee met to discuss pending decisions by the SEC regarding an update to the exempt offering ecosystem. The SEC Small Business Capital Formation Advisory Committee was established by the SEC Small Business… Read More
Last Thursday, a letter posted on the Russian website of SmartLab said that Telegram will offer GRAM purchasers the option to receive their money back as the deadline for the issuance of the tokens had passed. Telegram has been in an ongoing legal battle with… Read More
I don’t know about you but I am already tired of reading/hearing/seeing/dreaming about COVID-19. Social distancing and shelter at home are necessary and vital – especially for cities like New York that has emerged as an epicenter for the virus. Eventually, we will move beyond… Read More
KingsCrowd has closed on a $1 million crowdfunding round on the NetCapital marketplace. KingsCrowd is a ratings and analytics firm for the private securities market. NetCapital lists private securities under both Reg CF and Reg D. The KingsCrowd offering leveraged both exemptions in a side… Read More
Digital challenger bank Chime filed an amended Form D with the Securities and Exchange Commission (SEC) this week indicating its most recent funding round has moved a touch higher. According to the filing, Chime has now raised $700 million from 25 investors. The date of… Read More
YieldStreet, an alternative investment platform that largely caters to accredited investors under Reg D 506c, has announced a new partnership with BlackRock (NYSE:BLK) on a $1 billion fund that will target retail investors. Michael Weisz, founder and President of YieldStreet, hit the studios of CNBC… Read More
Republic, an investment crowdfunding platform that is an offshoot of AngelList and affiliated with digital asset issuance platform CoinList, is one of the leading sites in the US providing access to equity capital for early-stage firms. It is also democratizing investment opportunities by allowing non-accredited… Read More
NextSeed, a Reg CF funding portal and broker-dealer, has distributed an update on platform progress. According to an email from the platform, NextSeed investors have now received over $5 million in payments via the platform. Last year, NextSeed distributed over $2 million in payments thus… Read More
On Monday, Telegram, makers of the popular private messaging app Telegram, issued a public notice to, “clarify certain aspects of the TON Blockchain and Grams,” as the company, “continue(s) to prepare for a successful launch of the project.” TON is intended to function as a… Read More
The judge presiding over an SEC case alleging Telegram sold unlicensed securities has denied the SEC’s request for immediate disclosure of bank records relating to Telegram’s $1.7 billion sale of GRAM cryptographic tokens. Instead, Judge P. Kevin Castel has ordered the private messaging company to, “set… Read More
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