On July 10, 2019, the Securities and Exchange Commission declared Blockstack PBC’s offering statement “qualified”, thus allowing Blockstack to commence the distribution and sale of its Stacks Tokens under Regulation A. ...more
8/5/2019
/ Blockchain ,
Initial Coin Offering (ICOs) ,
Investment Contract ,
Investment Opportunities ,
Offering Statements ,
Offerings ,
Regulation A ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Token Sales ,
Venture Capital
2018 was a historically good year for venture capital in the United States in terms of dollars invested by VC funds in U.S. companies, dollars raised by VC funds and dollar value of exits by VC-backed companies, according to...more
Real estate developers should seriously consider equity crowdfunding to fund development projects for two major reasons, one of which has little or nothing to do with money. ...more
1/28/2019
/ Accredited Investors ,
Capital Formation ,
Crowdfunding ,
JOBS Act ,
Non-Accredited Investors ,
Offerings ,
Popular ,
Real Estate Development ,
Regulation A ,
Securities and Exchange Commission (SEC) ,
Venture Capital
Private companies in the gig economy like Uber, Airbnb and GrubHub would love to issue compensatory equity to their platform participants, just like they’re able to do with their employees. ...more
9/26/2018
/ AirBnB ,
Capital Markets ,
Equity Securities ,
Exemptions ,
Gig Economy ,
JOBS Act ,
Offerings ,
Privately Held Corporations ,
Registration Requirement ,
Regulatory Oversight ,
Regulatory Standards ,
Rule 701 ,
SEC Comment Letter Process ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Sharing Economy ,
Venture Capital
t’s not often that the House of Representatives votes nearly unanimously on anything noteworthy these days, but that’s exactly what the House did on July 17 in voting 406-4 for the “JOBS and Investor Confidence Act of...more
7/24/2018
/ Accredited Investors ,
Angel Investors ,
Capital Formation ,
Capital Raising ,
Crowdfunding ,
Early Stage Companies ,
Equity Markets ,
Financial Regulatory Reform ,
General Solicitation ,
JOBS Act ,
Legislative Agendas ,
Offerings ,
Proposed Legislation ,
Regulation D ,
Securities and Exchange Commission (SEC) ,
Special Purpose Vehicles ,
Venture Capital
Dual or multi-class capitalization structures generally allow companies to sell large amounts of shares to the public while maintaining control in the hands of the founders and early investors. Popularized by the Google IPO...more
A recent report on the state of Regulation Crowdfunding published by a major crowdfunding advisory firm is cause for both celebration and renewed reform efforts. The $100 million aggregate funding milestone and the prorated...more
A recent Delaware Chancery Court decision provides important guidance on what types of defective corporate acts may be ratified under Section 204 of the Delaware General Corporation Law (the “DGCL”), and what types may not....more
Venture capital funds routinely negotiate for a right of redemption – the right to require the company to buy out their shares after a certain period of time if an exit has not occurred – as a key element of their exit...more
Every founder of a growth startup dreams of a big, successful exit — a sale of the company for millions of dollars. But that dream could be shattered if the investors are able to cause the company to be sold prematurely with...more
On March 22, the Subcommittee on Capital Markets, Securities, and Investment of the Financial Services Committee conducted a hearing entitled “The JOBS Act at Five: Examining Its Impact and Ensuring the Competitiveness of the...more
2016 turned out to be a terrible year for IPOs, both in terms of number of deals and aggregate proceeds.
According to Renaissance Capital’s U.S. IPO Market 2016 Annual Review, only 105 companies went public on U.S....more
Earlier this year, Union Square Ventures Managing Partner Fred Wilson famously referred to corporate VCs as “The Devil”, when he asserted that companies should not be investing in other companies, that they should be buying...more