Regulation A+ (Section 3(b)(2)) Offerings: Stepping Stone to IPO, or IPO Alternative?

01/06/2014 10:00 a.m. - 11:00 a.m.

Corporate Finance | Capital Markets, IPOs, and Emerging Companies + Venture Capital


David M. Lynn

David M. Lynn

Speaking Engagement

Joseph Marano
(212) 336-4316

For presentation materials, click here.

On December 18, 2013, the SEC proposed rules to implement the mandate of Title IV of the JOBS Act by creating a framework for Section 3(b)(2) offerings. The JOBS Act permits non-reporting companies to conduct "mini" public offerings, or Regulation A+ exempt offerings to raise up to $50 million in proceeds. A Regulation A+ offering may prove a compelling capital-raising alternative for growing companies and may be a useful stepping stone on the way to an IPO. For some companies, Regulation A+ may be a viable alternative to an IPO. We will discuss the proposed rule, as well as provide a perspective on the utility of Regulation A+ and on the Regulation A+ market.

Topics will include:

  • Basics of the proposed rule;
  • The offering process;
  • Disclosure requirements;
  • State securities law considerations;
  • Combining Regulation A+ offerings with other exempt offering alternatives;
  • Regulation A as a precursor to an IPO;
  • Regulation A as an alternative to an IPO; and
  • Secondary trading.


  • David Lynn
  • Anna Pinedo

New York and California CLE credit is pending.

Email Disclaimer

Unsolicited e-mails and information sent to Morrison & Foerster will not be considered confidential, may be disclosed to others pursuant to our Privacy Policy, may not receive a response, and do not create an attorney-client relationship with Morrison & Foerster. If you are not already a client of Morrison & Foerster, do not include any confidential information in this message. Also, please note that our attorneys do not seek to practice law in any jurisdiction in which they are not properly authorized to do so.

©1996-2019 Morrison & Foerster LLP. All rights reserved.