NC PACES (crowdfunding) update: Regulators propose groundbreaking rules for local offerings by NC companies
Editor’s note: Benji T. Jones is an attorney at Smith Anderson in Raleigh and has been deeply involved in crowdfunding-related issues. RALEIGH – The Securities Division of the North Carolina Secretary of State (the “Division”) announced significant revisions to rules that implement the NC PACES Act. NC PACES permits North Carolina companies to offer and sell up to $1M ($2M with reviewed or audited financials) of securities in 12 months to an unlimited number of North Carolina residents (including non-accredited investors), subject an investment cap of $5K per offering for non-accredited investors. The NC PACES Act, which was signed...
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