Groundfloor Finance Achieves Historic Qualification Under New Regulation A
Smith Anderson client Groundfloor Finance has achieved a historic securities offering under Title IV of the JOBS Act. GROUNDFLOOR is the first company to qualify an offering under the new Regulation A (known as “Regulation A+”) since it went into effect in June, 2015.
After navigating multiple rounds of comments from the Securities and Exchange Commission (SEC) and from the North American Securities Administrators Association (NASAA), GROUNDFLOOR launched the first and only real estate peer-to-peer micro-lending platform open to non-accredited investors in early September 2015, offering securities to retail investors residing in eight states and the District of Columbia. Smith Anderson continues to assist GROUNDFLOOR in the qualification of additional offerings with the SEC and NASAA under new Regulation A.
GROUNDFLOOR is an online real estate public lending marketplace that leverages innovative technology, including a proprietary underwriting engine, to open up the market for private real estate lending to non-accredited and accredited investors, allowing each to participate in short-term commercial loans backed by real property. To learn more about GROUNDFLOOR, visit its website at www.groundfloor.us.
About Smith Anderson
Founded in 1912, Smith Anderson has grown to become the largest business and litigation law firm headquartered in the Research Triangle region and one of the largest in North Carolina. We provide a full range of legal services to a diverse and dynamic group of regional, national and international companies. Over 100 years of practicing law has grounded our Firm’s culture, informed our perspective, and provided us the insight necessary to help our clients succeed. Over time, our core principles have remained unchanged. We remain personally dedicated to the success, prosperity and betterment of our clients and the communities we serve.