Jackson Walker partners Stephanie Chandler and Mike Laussade were quoted in a Feb. 21, 2014, SiliconHills article on the current trends San Antonio locals are seeing in the funding of startup companies. The article, “Tips for Startups on Raising Old Money and Crowdfunding,” discusses the former reluctance of San Antonio family offices to invest in startup companies versus the increased activity today.
“There is a lot of buzz going on at the San Antonio country club about what’s going on in town and trends,” Ms. Chandler stated.
She also discussed the motives behind angel investors putting money into startups.
“Clearly they are motivated by getting a return, but they are also looking for something else,” Ms. Chandler told the publication. For example, a lot of the successful entrepreneurs and executives with Rackspace are now investing in early-stage tech startups to give back to the community, she said.
On the topic of private offerings of securities, Mr. Laussade offered information regarding the SEC’s new Rule 506(c), which provides an exemption allowing companies to raise an unlimited amount of money from accredited investors using general solicitation and general advertising, subject to certain verification requirements.
Mr. Laussade also discussed the current status of the “crowdfunding” rules proposed by the SEC as required by the JOBS Act.
The crowdfunding rules, as proposed, would allow companies to raise small amounts of money from large numbers of non-accredited investors. But the rules are not yet effective, Mr. Laussade said, and aren’t expected to be finalized until later this year.
Stephanie Chandler’s practice emphasizes securities transactions, reporting and compliance; mergers and acquisitions; technology licensing and commercialization, and general corporate work. She assists clients with both the formation of organizations, public and private offering of securities, governance issues and shareholder proxy contests, as well as Securities Act and Exchange Act compliance matters. Her track record of working with clients from the earliest stages of their development through significant liquidity events, typically in the role of outside general counsel managing the legal issues related to each growth stage, allows her to bring a uniquely broad-based perspective to the matters she handles. Ms. Chandler received her B.S.B.A. from the University of Nebraska and her J.D. from the University of Virginia School of Law.
Mike Laussade assists small- to mid-sized companies in all phases of entity formation, capital raising, securities law compliance, corporate governance, contract negotiation, and merger and acquisition transactions. He also has significant experience advising officers, directors, and shareholders with respect to corporate governance issues under both Texas and Delaware law, and routinely handles the entire range of securities compliance and disclosure issues on behalf of multiple public companies. Mr. Laussade is a frequent speaker on corporate and securities law topics, particularly those related to start-up companies and private offering exemptions created by the JOBS Act. Mr. Laussade received his B.A. from the University of Texas and his J.D., with honors, from the University of Texas School of Law, where he served as Editor in Chief of the Law Review.