August 09, 2013

Chicago Tribune Quotes FaegreBD on Significance of Capital-Raising Ad Ban Lift

A rule approved by the Securities and Exchange Commission on July 10 will allow capital-raising companies to advertise to market their offerings for the first time in 80 years, the Chicago Tribune reported.

"Even under existing rules, private placements, which are limited sales of securities by both closely held and public companies are 'an unheralded but extremely large source of capital for growing companies,'" the Chicago Tribune said, quoting a legal update on the issue written by Faegre Baker Daniels lawyer Matt Stamski. "'Four times as much capital was raised in private placements...as was raised in initial public offerings in 2012.'"

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