Securities Straight Talk Vol. 3: Keeping it Local—Changes to the Rule 147 Intrastate Offering Exemption
The SEC, wishing to facilitate capital formation by smaller companies, amended Rule 147 and adopted Rule 147A to modernize the intrastate offering exemption. These changes have liberalized the Rule 147 safe harbor and expanded the exemptions available for local securities offerings. The amended Rule 147 and new Rule 147A are largely identical, except for a few distinct differences.
Don’t Have Enough Authorized Shares? There’s A Fix For That
Last September, the Texas legislature ratified Subchapter R, giving Texas for-profit corporations a statutory device for ratifying what were once considered void or voidable corporate acts or issuances of company shares. The new legislation applies to well-established and newly formed […]
Finding Angel Investors In Texas
One of the most common questions I get from my startup clients is, “Can you help me find investors?” The answer is always a very lawyerly, “Well, yes and no.” I generally hate it when people say that, but it’s […]