05/22/2020 | Press release | Distributed by Public on 05/22/2020 19:25
By SBE Council at 22 May, 2020, 10:07 am
May 22, 2020
1:00 p.m. ET
Recently, the Securities and Exchange Commission issued temporary relief from certain provisions of Regulation Crowdfunding. Small businesses can now more quickly and easily conduct public fundraising to access the capital they need during the COVID-19 pandemic.
NextSeed Co-Founder and CEO, Youngro Lee, will be hosting a webinar with guest speaker Karen Kerrigan, President & CEO of the Small Business & Entrepreneurship Council, where they will discuss the impact of the SEC's temporary rule changes, how they came to pass, and how small businesses may be able to utilize them to access additional capital to their advantage.
The streamlined rules announced by the SEC allow businesses to raise up to $250,000 and reduce red tape and costs that serve to accelerate the capital raising process for small businesses. Learn more about the power and possibilities of crowdfunding, the significance of these rules, and how your small business can benefit.
'The temporary rules are intended to expedite the offering process for smaller, previously established companies directly or indirectly affected by COVID-19 that are seeking to meet their funding needs through the offer and sale of securities pursuant to Regulation Crowdfunding.'
'The temporary rules provide flexibility for issuers that meet certain eligibility criteria to assess interest in a Regulation Crowdfunding offering prior to preparation of full offering materials, and then once launched, to close such an offering and have access to funds sooner than would be possible in the absence of the temporary relief. The temporary rules also provide an exemption from certain financial statement review requirements for issuers offering more than $107,000 but not more than $250,000 in securities in reliance on Regulation Crowdfunding within a 12-month period.'
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