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U.S. Securities-based Crowdfunding Under Title III of the JOBS Act ​

Feb. 28, 2017

Vladimir Ivanov and Anzhela Knyazeva

Abstract:

Title III of the JOBS Act created a new exemption from registration for Internet-based securities offerings of up to $1 million over a 12-month period.  The SEC adopted securities-based crowdfunding rules on October 30, 2015.  Issuers were able to use the new exemption beginning May 16, 2016, when the final rules became effective.  Below we present initial evidence on the offering activity in the Title III crowdfunding market for offerings initiated during May 16, 2016-December 31, 2016.

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