Headed to ABA Conference to Speak on Reverse Mergers

For the last three years I have been honored to be a panelist at the annual American Bar Association conference. I’m headed to Vancouver tomorrow for the lastest one, entitled “Hot Securities Law Issues for Small Business.” My friend Lee Liebolt, formerly of Brown & Wood, is our fabulous moderator.

I’m covering six basic trends in our space. First, the changes in Rule 144 and how they impacted shells mostly positively but also negatively (the “evergreen” requirement we have discussed so often here). Second, how some regulators in British Columbia and at FINRA are stepping up efforts to eliminate questionable “footnote 32/172″ shell companies. Third I will cover the increased interest in self-filing for a variety of reasons including the fact that more companies are going public without an immediate capital raise and therefore can wait the extra time. Fourth is the continuing strength of Chinese companies looking to go public through these alternative means. Fifth is the fact that the shell market has become a true buyer’s market as the shells have become somewhat commoditized, even though still holding value. Last I’ll cover PIPE trends affecting reverse mergers, helping slow down the APO market but with new entrants such as private equity investors interested in financings for newly public companies.

Of course I will drill down a bit more than this, but these will be the highlights, so at least you know what I consider to be the main “hot topics” in our space at the moment. Talk to you when I get back this weekend!

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