NEW YORK, June 18 /CNW/ -- Law firm Gersten Savage LLP briefed small-cap
companies on new regulatory changes and tips on raising capital at a recent
conference the firm held in Canada.
More than 60 executives and finance professionals attended Recent
Developments in Regulation and Access to Capital Markets: A Guide for Small
Companies, held in Vancouver, British Columbia, in May. The event was part of
the Gersten Savage Small-Cap Series.
Featured speakers included partners Arthur Marcus and David Danovitch,
and attorneys Kristin Angelino and Jaclyn Amsel from Gersten Savage; and Carl
Dilley, managing director and president, Island Stock Transfer and Spartan
Securities Group, Ltd.
In the past year, the U.S. Securities and Exchange Commission (SEC)
enacted significant rule changes to streamline reporting and disclosure
requirements for small companies and improve their access to capital markets.
"The new SEC requirements represent the most significant changes for
small businesses since 1992," said David Danovitch, Gersten Savage partner.
Gersten Savage attorneys Kristin Angelino and Jaclyn Amsel outlined some
of the key SEC changes for small-cap companies:
-- Companies with less than $75 million in public equity float or less
than $50 million in revenues are now considered "smaller reporting companies"
and are subject to less stringent disclosure rules.
-- The SEC has simplified disclosure requirements by moving the current
regulations for smaller companies -- Regulation S-B -- into Regulation S-K,
the current disclosure system for all companies.
-- The SEC has shortened the Securities Act Rule 144 holding period for
restricted securities from one year to six months, creating greater liquidity
for investors and increasing access to capital at lower cost for small-cap
Carl Dilley, managing director and president, Spartan Securities Group,
discussed how small companies should improve their outreach to institutional
investors. Dilley said that companies should focus on attracting
institutional investors that specialize in the small- and micro-cap space,
especially given the current lending environment.
"Get your company noticed by the institutional investor. Make sure your
strategy is understood and appreciated," he said. "Management, liquidity,
value and upside potential all are key factors in attracting micro-cap
One of New York's top five independent law firms, Gersten Savage
specializes in securities regulation, corporate law and finance. The firm
advises small- and mid-cap companies.
About Gersten Savage LLP
Gersten Savage LLP, founded in 1977, is considered one of New York City's
top five independent law firms. A full-service firm, Gersten Savage's
practice groups cover corporate, finance, tax, litigation, bankruptcy, real
estate, and intellectual property in the United States and throughout the
Gersten Savage represents issuers and broker dealers on matters ranging
from private placements, public underwritings, regulatory compliance, and
merger and acquisitions. The firm also represents principals in the
establishment of hedge funds and off-shore financing entities. In addition,
the firm represents start-up companies, established public and private
enterprises, domestic and offshore investment partnerships, and registered
investment advisors. Its international and tax planning division provides a
full range of legal services to its clients, which is enhanced by intellectual
property, bankruptcy and real estate expertise. The firm's clients span a
broad range of industries, including investment banking, e-commerce, consumer
products, insurance, healthcare, manufacturing, importing, mining, oil and
gas, distribution, and retailing.
For further information:
For further information: Michelle Manoff of Rubenstein Public Relations,
+1-212-843-8051, firstname.lastname@example.org, for Gersten Savage LLP; David
Danovitch of Gersten Savage LLP, +1-212-752-9700,
email@example.com Web Site: http://www.gerstensavage.com