Reg A+ it and they will come. Kinda sorta.

Excellent recap of Reg A+ in the WSJ.

“According to the Securities and Exchange Commission, 94 companies had filed to raise a total of $1.7 billion under Reg A+ as of early June. Of those, 45 offerings seeking to raise a total of $785 million have qualified to raise funds, and just a few have actually completed their offerings.

The low tally highlights some of the challenges that small companies continue to face, as well as the JOBS Act’s limited progress in achieving its objectives. But the weak market for initial public offerings hasn’t helped.




Among the biggest problems for the companies trying to raise funds is that they aren’t prepared for the amount of marketing needed to attract a big enough pool of potential investors.”

That last paragraph is the most germane to this blog. Vintage is the #1 Reg A+ filing agent, by far. We’ve seen our share of companies file their 1-A… and many have yet to meet their expectations. And that word – expectations – is certainly where the problem may lay. RegA+ is just a year old. To imagine seasoned “players” to walk out of the corn is not the expectation to set. RegA+ is NOT the new shell or reverse merger… there is no “get-rich-quick” path here. It’s called a mini-IPO for a simple reason – it requires the same business fortitude found with traditional IPO (form S-1) event.

That said, let’s look at a year by the numbers:

  • 94 companies
  • $1.7 billion
  • 5 offerings qualified
  • A few have actually completed their offerings

94 companies is one every 2.75 business days! $6,500,000 raised every business day! That seems like great progress for a one-year-old!   It’s much too soon to judge a “completion” rate – as he vast amount of variables that propel any company’s success is vast: marketing, management, products and promise. But the top of the funnel is strong.

Coincidentally, (ahem) one company that is the poster child for Reg A+ success is presenting live today to an audience of live, online investors at


Elio Motors has put all the right pieces in place for a successful Reg A+ IPO, but most essentially, marketing. One example is they reached into their database of enthusiastic motor-fans to create “investomers.” Learn more, free. Their CEO is presenting live at 1:00 PM ET.

Following in Elios’ marketing footprint (but presenting 45 minutes earlier ) is ShiftPixy. You can read their offering prospectus here.

To close out using more baseball metaphors, a Reg A+ filing was not built to be a home run. At best, it’s a base hit – and management needs to work diligently to bring the “mini-IPO” runner home, base by base, communication by communication. Reg A+ is less expensive than a normal IPO, but NOT less effort.

Interested in the Reg A+ process? DOWNLOAD our worksheet here.


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