NSBA Seeks Input on Small Biz InvestmentJuly 1, 2015
NSBA is seeking your input on a brief survey regarding investment capital for your business. An outspoken proponent for easing small-business access to capital and investment, NSBA will be filing an amicus brief in support of certain new SEC Rules which would ease the process for selling shares of your business, and we need your help.
Recently, new Regulation A rules took effect which should increase your access to investment capital while lowering its costs by allowing businesses to test the waters before making an offering, advertise openly and sell shares to all prospective investors, and avoid triggers for full registration with the Securities and Exchange Commission (SEC).
The impact of these changes may help you to reduce or eliminate broker’s fees, lower investor premiums, and give founders greater control over the term sheet.
On May 22, 2015, the States of Massachuettes and Montana filed actions with the U.S. Court of Appeals for the District of Columbia to vacate a portion of the new Rules so that issuers must register in each State where shares are sold, adding significant complexity. NSBA will be filing an amicus brief with the Court in support of the new SEC Rules so that eligible small firms issuing shares can avoid the costs and delays associated with state registration.
We need your help, however.
Please take a few moments today to provide us some brief information about your considering or making any offering of securities or debt. This is a quick, 5-minute survey which will be confidential.