The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee recently published the agenda for its upcoming November 12, 2019 meeting. The Committee will gather to discuss the Commission’s recent Concept Release seeking comments on the exempt offering framework. The first panel will discuss, among other topics, harmonization, the regulation of offers and sales,

The third quarter of 2019 saw a slight decrease in venture private capital funding levels according to PwC and CB Insights’ recently published MoneyTree report. Approximately $25.9 billion was raised across 1,304 deals, bringing total capital raised in 2019 to $83 billion.

Staying private longer. Companies have taken advantage of raising large amounts of

In this Lexis Practice Advisor® Practice Note, we discuss the Securities and Exchange Commission’s (SEC) proposed rule that would expand the permitted use of “testing-the-waters” communications from emerging growth companies (EGCs) only to all issuers, regardless of size or reporting status. Proposed by the SEC on February 19, 2019, Rule 163B under the Securities

In a recent briefing, CB Insights reported increased funding in the healthcare sector for the first half of 2019 with $26.9 billion invested in healthcare companies across 2,258 deals globally. While promising, funding for full year 2019 is not projected to surpass the $58.5 billion raised by healthcare companies in 2018.  The number of late-stage

On May 3, 2019, the US Securities and Exchange Commission (SEC) proposed revisions to financial statement disclosures with respect to business acquisitions and dispositions required by Regulation S-X’s Rule 3-05 (Financial Statements of Businesses Acquired or to be Acquired (Rule 3-05)), Rule 3-14 (Special Instructions for Real Estate Operations to be Acquired (Rule 3-14)), Article

In a recent paper, referenced above, author JB Heaton analyzes the extent to which the ability of corporations to return capital to their shareholders through dividends and repurchases results in substantial social costs. As a result, he argues that it would be beneficial to restrict dividend payments and share repurchases.  Heaton notes that dividend