Header graphic for print
MoFo Jumpstarter For jumpstarts, upstarts and start-ups

Tag Archives: test-the-waters

Survey Includes Information on JOBS Act

Posted in IPO On-Ramp

In its recently released survey, 2013 BDO IPO Outlook, BDO included specific questions on the effect of the JOBS Act on the IPO market.  The report can be accessed here:  http://www.bdo.com/download/2432.  According to the survey, 42% of bankers surveyed responded that they saw no evidence that the JOBS Act had affected the IPO market positively;… Continue Reading

More SEC Guidance on Title I of the JOBS Act

Posted in IPO On-Ramp

The Staff of the Division of Corporation Finance of the U.S. Securities and Exchange Commission (the “SEC”) recently updated its Frequently Asked Questions on Title I of the Jumpstart Our Business Startups Act (“JOBS Act”) to address a number of issues regarding the applicability of the provisions in Title I to exchange offer, merger and… Continue Reading

MoFo Seminar: JOBS Act Update

Posted in Events

Join us for a JOBS Act Update. The seminar will be held at The Michelangelo in New York on Friday, September 21st, from 8:15am-10:00am. Want to attend? Click here. We invite you to join us for the first of our fall CLE series (note: new location). Our session will focus on developments related to the… Continue Reading

Dip a Toe in the Water

Posted in IPO On-Ramp

In the most recently issued set of FAQs on the JOBS Act, the SEC Staff also addressed testing-the-waters communications, and, in particular, the requirements of Rule 15c2-8(e).  Rule 15c2-8(e) requires that a broker-dealer make available a copy of the preliminary prospectus (prior to the effective date) for a registered offering of securities before soliciting orders… Continue Reading

Hard Transitions

Posted in IPO On-Ramp

The JOBS Act also does not provide much guidance in relation to various phase-ins or transitions once an issuer that was an EGC crosses one of the specified thresholds and loses its EGC status.  In its set of FAQs on Title I of the JOBS Act, the Staff outlined certain principles relating to transition out… Continue Reading

The Life Aquatic: Anchors, Pilot Fishing and Pre-Sounding

Posted in IPO On-Ramp

Have you noticed that most of the terms relating to contacting potential investors to gauge their interest in possible securities offerings take their inspiration from terms related to the sea?  We wonder why.  Probably not an homage to Jacques Cousteau or Wes Anderson.  In Europe and Asia, for some time, bankers have had greater flexibility… Continue Reading