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A New Era to Funding

A New Era to Funding. Who am I?. Shemer Sendak, Founder of SENDAK Law Office Extensive experience in US-Israel transactions, M&A, high-tech and venture capital Licensed to practice in Israel and the State of NY. The Evolution of Private Offerings.

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A New Era to Funding

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  1. A New Era to Funding

  2. Who am I? • Shemer Sendak, Founder of SENDAK Law Office • Extensive experience in US-Israel transactions, M&A, high-tech and venture capital • Licensed to practice in Israel and the State of NY

  3. The Evolution of Private Offerings

  4. The Stone AgeA company could not raise capital without a prospectus • Up until the 1929 Stock market crash– Blue Sky Laws (State laws only)- Philosophy of merit • The 1929 crash & the Great Depression • Securities Act,1933 – Philosophy of disclosure

  5. The Middle AgesPrivate Offering Exemptions • The ‘Howey’ Test (1946) • Regulation D • No solicitation or advertising

  6. The 21st CenturyThe JOBS Act and the birth of Crowdfunding • Non-Equity based Crowdfunding(Headstart, Kickstarter, Indiegogo…) • Equity based - Investors receive shares

  7. Israel • Unfortunately mostly a follower, not a leader • Up until now, mostly stuck in the middle ages (35 offerees a year, with no flexibility) • Now adapting to the new reality

  8. מתחום ההייטק והטכנולוגיה השקעה מקבילה של משקיע מתוחכם (לפחות 10%) • אישור המדען הראשי: • הטכנולוגיה שהחברה מציעה אכן אפשרית • פעילות המחקר של החברה היא בישראל • יש לצוות הניהולי והמקצועי את היכולות הדרושות • החברה היא בעלת הזכויות הבלעדיות בפירות המחקר והפיתוח.

  9. תודה! www.sen-law.com

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