As discussed in our prior post, the Securities and Exchange Commission’s Office of the Advocate for Small Business Capital Formation recently issued its 2024 Annual Report.
The Report provides data on the reliance on crowdfunding and Regulation A to raise capital. Interestingly, the number of new crowdfunded offerings has remained fairly consistent with the…
The Securities and Exchange Commission’s Office of the Advocate for Small Business Capital Formation issued its 2024 Annual Report just recently. The Office is required to deliver an annual report to Congress, to the Committee on Banking, Housing and Urban Affairs of the U.S. Senate and the Committee on Financial Services of the U.S. House…
REIT capital raising in 2024 has surpassed 2023 and 2022 levels after having undergone a substantial decline after the COVID pandemic. According to the National Real Estate Investment Trust Association (Nareit), US REITs raised $23.3 billion from secondary debt and equity offerings in the third quarter of 2024 and approximately $65 billion in debt and…
Last week, SIFMA released its annual Capital Markets Fact Book, which reports comprehensive data on capital markets activity generally. The U.S. equity markets represent 42.6% of the $115 trillion global equity markets, with the second largest market, the EU, accounting for 11%. U.S. ECM activity saw an increase of 39.9% year-over-year, with $139.1 billion raised…
The PIPE market has proven to be resilient during times of stress. In 2023, issuers raised over $33.8 billion in 809 PIPE transactions according to PrivateRaise. This is considerably less than in 2021 during which issuers raised over $108.8 billion. However, PIPE transaction activity has accelerated during the first five months of 2024. Between…
Introduced under Title III of the JOBS Act, Regulation Crowdfunding (“Regulation CF”) was promulgated to allow startups and emerging companies to raise capital from a wider pool of investors through equity crowdfunding platforms. Regulation Crowdfunding allows non-accredited investors to invest through these platforms. Currently, a company may raise up to $5 million in a 12-month…
Not long ago, the SEC hosted the Annual Small Business Forum. The Forum provides an opportunity to consider a broad array of issues affecting private companies as well as smaller public companies seeking to raise capital and allows the public an opportunity to comment and suggest policy recommendations. In the last few years, the SEC…
The Securities and Exchange Commission announced that on February 27, 2024, the Small Business Capital Formation Advisory Committee will hold a meeting, which will be webcast. The SEC Office of the Advocate for Small Business Capital Formation will provide an overview of its 2023 report, about which we previously blogged. The Committee will then…
The Securities and Exchange Commission recently published its report on the Government-Business Forum on Small Business Capital Formation, which generates recommendations from participants that the SEC considers. The recommendations from participants included, among others, the following:
The Securities and Exchange Commission recently an announced an upcoming meeting to be held on September 19, 2023. The agenda includes a discussion with the SEC’s Division of Corporation Finance relating to its role in capital formation. There have not been any recent SEC proposed rulemakings related to this area recently. However, the agenda does…
