Small Issues: Regulation A
As long as a business does not want to raise more than $5 million in equity over a one-year period, the business can raise money under a Regulation A exemption. Regulation A is open to non-reporting U.S. and Canadian issuers that have a legitimate business plan. Regulation A is not open to investment companies or disqualified issuers.
Under Regulation A, a business does not have to