The Jumpstart Our Business Startups Act (the JOBS Act), enacted on April 5, 2012, changes and liberalizes the regulatory landscape for both public and private companies seeking to raise capital. The Staff of the Division of Corporation Finance of the Securities and Exchange Commission recently issued additional guidance on the implementation and application of certain provisions of the JOBS Act. Below is a summary of certain aspects of this guidance.

Manatt, Phelps & Phillips, LLP, will continue to monitor and provide updates on the implementation of the JOBS Act. Our lawyers are available to assist with any questions you may have.