The Jumpstart Our Business Startups (JOBS) Act has created a lot of buzz about new opportunities for small investors through crowdfunding. This new legislation will allow general solicitation in Rule 506 private placements and permit companies to issue equity in crowdfunding campaigns -- if they follow parameters to be set by the SEC.
How will these new opportunities fit into the spectrum of existing options such as non-equity reward based crowdfunding, angel funding and VC financing?
Is biotech a good fit for micro financing techniques?
Join us for a 90-minute webinar on July 31 along with a panel of four financial, legal and industry experts in this field -- William C. Hicks, Member in the Corporate/Securities Section of Mintz Levin, Jack Hogoboom, Member and co-chair of the Life Sciences Group at Lowenstein Sandler, David S. Schechner, Managing Director of Canaccord Genuity and Shalini Sharp, Chief Financial Officer of Ultragenyx. They’ll provide valuable insights and strategies on how companies can leverage crowdfunding.
Key Takeaways for Participants:
- Consider challenges life sciences firms may face in seeking funding from the crowd,
- Learn ground rules for permissible general solicitations under Rule 506 that the SEC might impose in implementing rules
- Understand the parameters the JOBS Act gave the SEC for crowdfunding rule making
- Find out how crowdfunding might be used by life sciences entrepreneurs – after the SEC issues implementing rules
- Learn how the ability to conduct general solicitations or crowdfunding may strengthen issuer leverage in discussions with traditional investors
- See how issuers and placement agents may utilize the new flexibility to market broadly to attract new investment
- Understand the new parameters the JOBS Act has created for intermediary web sites that plan to facilitate crowdfunding and Rule 506 offerings without becoming broker dealers
- Find out how changes to the shareholder thresholds at which public registration is required facilitate these new private placement options
- Know the risks involved – there will be new costs burdens for companies and increased risk of fraud to investors
Don’t miss out on the opportunity to draw upon the expertise of our presenters and learn how private companies can take advantage of the ability to market their offerings more broadly than in the past.
Who Should Attend:
• CEOs and CFOs of life sciences companies
• Venture Capital and Private Equity Firms
• Investors
• Finance staff
• Investor relations staff
• General counsel and corporate counsel
Your Experts:
William C. Hicks is a Member in Mintz Levin’s New York office. Bill has extensive experience representing placement agents and underwriters in structuring and executing initial public offerings, alternative public offerings, including reverse mergers, Form 10/Resale S-1 deals and confidentially marketed IPOs, Confidentially Marketed Public Offerings (CMPOs), registered directs, PIPEs and private placements. Bill represents venture capital firms and private equity firms in customized investments in public companies, including structured PIPEs and registered directs, in OTC and exchange listed companies. Bill also represents public companies in public and private financings, SEC compliance, corporate governance and general counseling. Bill has extensive experience representing buyers and sellers in M&A transactions, including public company deals, private company deals and spin-offs.
Jack Hogoboom is a founding member of the Lowenstein Sandler Specialty Finance Group and is co-chair of the Life Sciences group. Jack specializes in representing clients in the life sciences and other industries in mergers and acquisitions, public and private securities offerings, private equity investments and general corporate and securities law. Jack is listed among The Best Lawyers in America in the 2007-2012 editions of the publication in both the corporate law and securities law categories. Jack earned his J.D. from University of Pennsylvania School of Law and is admitted to practice in New Jersey and New York.
David S. Schechner has been the Managing Director of Canaccord Genuity since May 2008. Mr. Schechner joined Canaccord Genuity from Needham & Company where he served as Managing Director and Head of the Life Sciences Group. He has 15 years of experience in initiating and executing mergers, acquisitions and securities offerings for biotechnology and technology companies. Prior to Needham & Company, he held positions at Goldman, Sachs & Co., Bear, Stearns & Co. and The Blackstone Group. Previously, he served as Managing Director of Corporate Finance in Boston at Needham & Company LLC. He joined Needham & Company as the Head of Investment Banking in New England in September 2001. Previously, Mr. Schechner had advised many technology and health care companies in financings, mergers, acquisitions and restructurings. Selected companies which he had advised include Verizon Communications, Pearson plc, Warner-Lambert, American Home Products, and Pharmacia. Mr. Schechner received an MBA from the Harvard Graduate School of Business and graduated magna cum laude in Economics from Cornell University.
Shalini Sharp is Chief Financial Officer of Ultragenyx, a privately held biotechnology company committed to developing life-enhancing therapeutics for patients with rare and ultra-rare genetic diseases. She is also a board member of Agenus Inc. (formerly Antigenics Inc.), a publicly traded biotechnology firm, where she served as Chief Financial Officer from 2006 to 2012. She joined Agenus in 2003 and held increasing roles of responsibility spanning strategic planning, corporate development, investor relations, corporate finance and business development. Prior to Agenus, Ms. Sharp held similar roles at Elan Pharmaceuticals from 1998 to 2003, including serving as chief of staff to the Chairman of the Board of Directors during that company’s restructuring. With 16 years of industry experience, Ms. Sharp has spearheaded numerous financing and business development transactions that have been critical to the success of Agenus and Elan. Prior to Elan, Ms. Sharp was a management consultant at McKinsey & Company as well as an investment banker at Goldman Sachs, specializing in pharmaceuticals and medical devices. Ms. Sharp holds both a BA, magna cum laude, and MBA, from Harvard University.
