House Passes Capital Access Reform Legislation
On March 8, 2012, the U.S. House of Representatives passed the Jumpstart Our Business Startups Act (the “JOBS Act”) in a 390-23 vote reflecting bipartisan support for the legislation. The JOBS Act is intended to (1) encourage initial public offerings by “emerging growth companies” and (2) facilitate the ability of companies to raise capital in private and small public offerings without registration with the Securities and Exchange Commission.