Partner Benji Jones has been closely involved in the drafting and passing of the North Carolina Crowdfunding law and writing about the proposed crowdfunding legislation. The North Carolina House and Senate finally passed the “Providing Access to Capital for Entrepreneurs and Small Business” (NC PACES Act) on June 29, and Governor McCrory is expected to sign the law into effect. The Triangle Business Journal reached out to Benji for a comment in its article, “Senate approves crowdfunding legislation, NC PACES Act headed to governor’s desk.”
North Carolina companies will now be able to raise funds from non-accredited investors (up to $5,000 every 12 months per individual) through crowdfunding. The bill received bipartisan support in the legislature, as well as endorsements from government officials and the North Carolina Chamber of Commerce.
“In my mind, the more options to access capital we give companies – within a balanced regulatory structure – the better,” Benji told reporter Amanda Hoyle. “NC PACES is about neighbors supporting their neighborhood businesses – local investors funding local ventures.”
Benji’s practice focuses on providing advice to public and private companies on a broad spectrum of legal issues affecting businesses, including public equity and debt offerings, domestic private placements, crowdfunding, and other non-traditional private offerings and repurchase programs.