CHAPTER 1

Introduction

With overwhelming bipartisan support, the Jumpstart Our Business Startups Act (the JOBS Act) was passed in April, 2012.1 It ushered in a new era of capital formation and job creation that is already being predicted by many to have a profoundly positive, transformational impact on the U.S. economy. For reasons detailed in this book, we believe one of the most impactful areas of the JOBS Act is the creation of important updates to Regulation A. Regulation A is a Securities and Exchange Commission (SEC) regulation that permits firms to raise capital with less burdensome requirements. This paves the way for many companies to raise capital via “mini-IPOs” (Initial Public Offerings), which are far less costly than full IPOs ...

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