Last month, we filed a Petition for Rulemaking with the SEC, requesting that they extend Regulation A+ to allow SEC Reporting Companies to leverage this important form of online capital raising.
Thank you to all that have submitted comments on the petition. If you have not yet had a chance to read the petition, we encourage you to do so and to email comments directly to the SEC at firstname.lastname@example.org. Below we have highlighted excerpts from some of the comments that have been sent to the SEC so far.
John N. Hatsopoulos, Co-Chief Executive Officer, Tecogen Inc. & American DG Energy Inc.
"As currently written, Reg. A+ excludes all SEC Reporting Companies - companies that already meet the SEC's high disclosure standards - from fundraising in this manner. By excluding SEC reporting companies, the SEC missed a critical opportunity to expand access to capital, drive costs lower, and support small company growth - the engine of the US economy and top creator of jobs in America." Read more.
Steven Dresner, Founder, Dealflow.com
"Given the existing framework for the "new" Regulation A, including provisions regarding financial and other qualitative disclosure, it would seem logical (and easy from a legislative and regulatory perspective) to broaden the utility of Regulation A by allowing smaller publicly reporting companies to use this capital-raising option." Read more.
Douglas S. Ellenoff, Ellenoff Grossman & Schole LLP, New York, New York
"We believe that implementation of these requested amendments would be beneficial to smaller reporting issuers without compromising any investor protections since, as the Petition highlights, these issuers are already required to provide compliant and substantive disclosures." Read more.