PETERBOROUGH, N.H., Sept. 23, 2013 /PRNewswire/ -- PeoplesVC, Inc. launched a general solicitation offering to raise capital for itself under new regulations that went into effect at 12:00 am this morning.
PeoplesVC believes it is the first company to offer securities under a new offering exemption meant to facilitate capital raising in the United States and that is ultimately expected to pave the way for securities-based crowdfunding under Title III of the JOBS Act.
Until this morning at 12:00 am, when regulations issued by the Securities and Exchange Commission went into effect, companies raising capital had been prohibited from using general solicitation for securities offerings under Regulation D of the Securities Act of 1933, as amended. The new regulations are expected to make it easier for entrepreneurs to raise capital by reaching a larger audience of accredited investors using advertising and social media channels such as Facebook™, LinkedIn™ and the internet. The PeoplesVC offering seeks to raise up to $4,750,000 through the sale of PeoplesVC's Series A Preferred Stock. The offering is only open to accredited investors and is being offered exclusively by PeoplesVC, Inc. through an offering memorandum available on its website at http://www.accredited-investors-club.com.
PeoplesVC's business will focus on providing a white label multi-media software-as-a-service software platform for companies preparing general solicitation offerings, and PeoplesVC expects to become a securities-based crowdfunding portal for JOBS Act Title III offerings after the Securities and Exchange Commission and other regulators publish final rules implementing Title III of the JOBS Act.PeoplesVC seeks to democratize capital formation activities by helping the general public replace banks and traditional venture capital firms as primary sources of early stage capital for startups and existing businesses. Once permitted by applicable law, PeoplesVC plans to open up early stage investing to all Americans to stimulate meaningful job growth.