David N. Feldman is a Partner of Richardson & Patel in its New York City office. His practice focuses on corporate and securities matters and general representation of public and private companies, investment banks, private equity firms and high net worth individuals. He also actively advises on mergers and acquisitions and private equity, debt, venture capital and other financings. In this Wall Street View, our host spoke with David Feldman, Partner at Richardson Patel LLP, at the Marcum MicroCap Conference 2015 in New York City, NY.
The last time we spoke with David, we discussed “Everything You Need to Know about Regulation A+” (Click here), and in this interview, he starts off with an update, “Unfortunately, some negative developments have happened, but I think they will be overtaken and be ok ultimately. Two states have sued the SEC to stop the implementation of these new rules that will allow this streamlined, simplified IPO because the law takes the states out of it, and pre-empts state review. The law is valid, but they are claiming that the SEC’s implementation of the law was not. Most experts believe that they are just really grasping at straws here and that the courts will not allow this to go forward, but it’s a frustrating development for sure.”
In the interview, Mr. Feldman succinctly explains the following: why more states will follow states that have filed suit against the SEC and why there is, as he says, “no need for this two levels of review of public offerings; there’s no unique, local state interest in these transactions and the SEC does a very fine job of carefully reviewing these…the states need to recognize that the federal oversight is more than sufficient.” He also discusses why the states would even sue the SEC, who is going to defend the SEC, understanding the purpose of the fight with SEC, how this affects the business, how as an attorney Mr. Feldman would advise an issuer when considering what route to go public.
David concludes by saying, “I still believe Reg. A+ has tremendous potential to help lots of companies access public trading stock more easily, quickly, cheaper than any other way, and it’ll bring back these smaller $8, $10, $15 million IPO’s that we haven’t seen since the 1990s. But, no question, this will cause some people to maybe pause a little bit and think about whether they want to go this route given this challenge is out there, but again, we’re structuring them as we can always switch it over, so there’s really no risk in doing it."
For more information about Richardson Patel LLP, go to: www.RichardsonPatel.com
For David Feldman’s Blog, go to: www.DavidFeldmanBlog.com
For David Feldman’s YouTube Channel discussing Reg. A, go to: The Entrepreneur’s Advocate
© 2017 Stock News Now
Supported by Superior Web Solutions