Today, May 16, 2016, the SEC’s final rules with respect to Title III of the well-publicized JOBS Act take effect. Briefly, this allows small companies in the US to raise capital from individuals that are not “accredited investors”. This opens the door for startups to raise up to $1,000,000 from a far larger pool of potential investors than what was previously allowed under the SEC’s regulations. No doubt, this is a big win for the startup and entrepreneurial communities that do so much to drive our economy.
PBY&A is honored to be one of the first law firms involved to assist a company on this exciting day. Graphic Armor, Inc., is one of the first companies in the country participating in this type of offering through the FINRA-licensed portal, StartEngine.
Read the entire Rule at the SEC’s website here [warning: 685 page PDF]