Following a long and often delayed process, Bill s481 was recently passed by the North Carolina Legislature and is expected to be signed into law by Governor Pat McCrory. The new law would allow private businesses in North Carolina to raise up to $2 million from non-accredited investors via crowdfunding sites.
Partner Benji Jones has been closely involved in the drafting and passing of the North Carolina Crowdfunding law. In the article, N.C. crowdfunding law would provide new way for companies to raise capital, reporter David Ranii, with Raleigh’s The News & Observer, reached out to Benji to explain the ramifications of the bill.
“It’s local,” Benji told the reporter. “That’s what the (law) is about. It’s about neighbors supporting neighborhood businesses.”
She goes on to say, “The process is expected to be more flexible. This gives new options to companies that couldn’t raise capital previously.”
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.