On March 27, 2012, Congress passed The Jumpstart Our Business Startups Act (the "JOBS Act"). The JOBS Act fundamentally reshapes certain aspects of capital raising in the United States, including creating a new category of companies—Emerging Growth Companies—that will be permitted to undertake initial public offerings subject to relaxed accounting, disclosure and marketing regulations. While the general thrust of the legislation is clear, there are numerous ambiguities and questions regarding how the JOBS Act interacts with existing laws and regulations. The attached Alert describes the impact the JOBS Act promises for IPOs and other capital-raising activities, and highlights some of the questions that remain.
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