05/13/2020
On May 4, 2020, in the throws of the Covid-19 crisis, the SEC adopted temporary rules to ease some restrictions on Title III Crowdfunding. These temporary rules apply to offerings launched between May 4, 2020 until August 31, 2020. The temporary rules provide:
-Companies raising up to $250,000 need only self-certify financials as opposed to lengthy and often expensive CPA review.
-The 21 day waiting period for commitments is temporarily removed and;
-Offerings can close sooner than the offering deadline date, provided the target offering minimum amount has been reached.
The full temporary rules can be accessed here:
Press Release SEC Provides Temporary, Conditional Relief to Allow Small Businesses to Pursue Expedited Crowdfunding Offerings FOR IMMEDIATE RELEASE 2020-101 Washington D.C., May 4, 2020 — The Securities and Exchange Commission today announced that it is providing temporary, conditional relief for ...