Michael T. Campoli

Congress has recently approved, and President Obama is expected to sign into law, the Jumpstart Our Business Startups Act (the “JOBS Act”). The JOBS Act seeks to stimulate job growth and capital formation by:

• Expanding certain private offering exemptions (specifically Regulation A and Rule 506 of Regulation D)
• Adding a new offering exemption for “crowdfunding” transactions
• Relaxing restrictions on the IPO process for “emerging growth companies”
• Eliminating or simplifying certain required disclosures by “emerging growth companies”
• Allowing smaller companies to remain private for a longer period of time

Partner Stephen M. Goodman and Counsel Michael T. Campoli, both members of Pryor Cashman's Corporate Group, have written an informative Legal Update summarizing the provisions and anticipated impact of the JOBS Act. To read the update, entitled "JOBS Act Seeks to Facilitate Access to U.S. Capital Markets," please click here.