The SEC opens; short-term outlook
Compliments of our colleague Sanjay M. Shirodkar. The SEC is open for business – first come, first served. The Division of Corporation Finance is returning to normal operations. The SEC staff has indicated that, absent compelling circumstances, it expects to address matters in the order in which they were received. Staff members ...
Continue ReadingStartups
Delaware Franchise Tax due date: a reminder for Delaware corporations
By Trent Dykes on 16 Jan 2019
By Trent Dykes, Ossie Ravid and Jennifer Tornow Just a reminder to those who have Delaware corporations: your annual report and franchise tax payment are both due by March 1. At this point, you have likely already received from Delaware your notification of annual report and franchise tax due, which is ...
Continue ReadingAdditional Posts
Investors
SEC Report on Tokens as Securities: Seven Takeaways
By Trent Dykes on 27 Jul 2017
One of the more interesting phenomena in early-stage investing is the recent emergence of initial coin offerings (“ICOs”), token generation events (“TGEs”), or similar distributed ledger or blockchain-enabled means for raising capital. Much has been written, including by many skilled lawyers in the technology sector, about whether the tokens issued in ...
Continue ReadingAdditional Posts
VC Funds and Tax
The SEC has the Munchees: Eating away at the “utility token” theory
By Andrew Ledbetter on 12 Dec 2017
Yesterday, the SEC issued an enforcement order regarding Munchee’s token offering and SEC Chairman Jay Clayton released a general public statement on cryptocurrencies and ICOs. For those who previously read our post about the SEC’s report in the DAO, much of this might not be a surprise – although the SEC ...
Continue ReadingAdditional Posts
IPOs and M&A
The SEC opens; short-term outlook
By DLA Piper on 28 Jan 2019
Compliments of our colleague Sanjay M. Shirodkar. The SEC is open for business – first come, first served. The Division of Corporation Finance is returning to normal operations. The SEC staff has indicated that, absent compelling circumstances, it expects to address matters in the order in which they were received. Staff members ...
Continue Reading