U.S. Capital Markets Regulations and Practices Affecting U.S. Companies
Author: David S. Baxter
Capital markets in the United States provide an unparalleled source of investment capital, measured in trillions of dollars. U.S. markets and rules allow companies to raise funds on an expedited and economically efficient basis with significant benefits, including:
- the ability to use securities as currency to make acquisitions and fund future growth;
- access to a large and highly liquid trading market;
- the ability to enhance market value by broadening the investor base and market visibility; and
- enabling equity-based compensation structures to attract and retain key personnel.
U.S. Capital Markets Regulation and Practices: An Overview for Non-U.S. Companies
Authors: Peter A. Baumgaertner, David S. Baxter, Frank Vivero
Capital markets in the United States provide an unparalleled source of investment capital, measured in trillions of dollars, for companies located outside the United States. For non-U.S. companies that sell securities in the United States, U.S. markets and rules allow companies to raise funds on an expedited and economically efficient basis with significant benefits.
The SEC Adopts Transaction Requirements that Preserve Form S-3 Eligibility for Most Issuers
Authors: David S. Baxter, Jeffrey J. Delaney, Todd W. Eckland, Kimberly E. Moritz
The Securities and Exchange Commission (SEC) has eliminated the use of investment grade credit ratings as a transaction requirement for short-form registration of securities, instead creating alternative transaction requirements that preserve the use of Form S-3 for most companies that previously relied on their investment grade credit ratings.
Regulation A+: A Summary of the New Rules and a Survey of Its Use
Source: California Business Law Vol. 32, No. 2
Author: Christina F. Pearson
On June 19, 2015, certain amendments to Regulation A under the Securities Act of 1933 (Securities Act) became effective. Regulation A as amended, which is commonly referred to as Regulation A+, provides nonreporting companies with an exemption from registration under the Securities Act for offerings of up to either $20 million in 12 months (a Tier 1 Offering) or $50 million in 12 months (a Tier 2 Offering). As of February 15, 2016, roughly 20 filings under Regulation A, as amended had been made, both publicly and confidentially, with the Securities and Exchange Commission. The filings we fairly evenly split between Tier 1 Offerings and Tier 2 Offerings.