Save the Angels Conference Call, Mon 5/17, 2PM EST – NRES, May 24-25th, Denver
Posted on May 18th, 2010 | No Comments »
Our Nano Renewable Energy Summit www.nanoenergysummit.org is only 10 days away and I will be discussing capital formation for startup emerging technology companies. Paul R. Stimers, Associate with K&L Gates and Public Policy Advisor for the NanoBusiness Alliance would like to share with our Nanotechnology Community the following information:
“Good morning; we have heard from many of our technology and investing clients that they are deeply concerned about provisions in Senator Dodd’s Wall Street Reform Bill (S. 3217). As VentureBeat reported <http://venturebeat.com/2010/03/26/angel-investing-chris-dodd/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+Venturebeat+%28VentureBeat%29>, the bill would severely harm startup companies and angel investors:
‘First, Dodd’s bill would require startups raising funding to register with the Securities and Exchange Commission, and then wait 120 days for the SEC to review their filing. A second provision raises the wealth requirements for an “accredited investor” who can invest in startups – if the bill passes, investors would need assets of more than $2.3 million (up from $1 million) or income of more than $450,000 (up from $250,000). The third restriction removes the federal pre-emption allowing angel and venture financing in the United States to follow federal regulations, rather than face different rules between states.’
The bill is moving fast: only about two weeks remain before the Senate votes on it. After that, we would have one final opportunity to change its provisions in the conference between the House (which has already passed a version without these provisions) and the Senate.
We believe that an ad hoc coalition composed of a wide range of technology and angel investment groups can fix these provisions – but we must act quickly to set up the coalition and reach out to the Hill. To that end, we are organizing a telephone conference for representatives of technology organizations and angel investor groups (and individual investors) to form a “Save the Angels” coalition and develop an action plan.”
You are invited to participate in this initial telephone conference, which will be held Monday, May 17, at 2:00 p.m. Eastern. Call-in information is as follows:
Dial 877-336-1280
Access code 4612397
Please pass this invitation on to others who would be interested. With your help, we can protect startups and angels from these devastating restrictions.
I look forward to your participation on the call and hope to see you in Denver www.nanoenergysummit.org May 24th-25th.
Regards,
Vincent Caprio “It’s Green, It’s Clean, It’s Never Seen – That’s Nanotechnology”
www.vincentcaprio.org
Executive Director
NanoBusiness Alliance
203-733-1949
vincentcaprio@nynanobusiness.org