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.
"Our mission at PeoplesVC it to help companies raise capital and use it to grow businesses that create jobs," commented PeoplesVC CEO Akhil Garland. "The time is now for America to re-invent itself, and it is an honor to have an opportunity to help create meaningful, challenging, exciting and rewarding jobs. Our goal is to focus on creating the types of jobs that, in turn, create more jobs – those are the most valuable and have the most impact on our nation," Garland added.
A live offering launch event can be viewed online at Noon Eastern Time on Sept. 23rd at www.PeoplesVC.tv.
Peoples Venture Capital (Peoples VC) was founded to create American jobs. It expects to individual investors to participate in early stage investments and the growth of small companies, while helping entrepreneurs create jobs and raise capital through grassroots funding. Harnessing the power of the Internet and social networking, PeoplesVC.com is a catalyst for rapid change, jobs growth, and innovation. The company can be found online at http://www.PeoplesVC.com.
General Solicitation Disclaimers
- The securities being offered by PeoplesVC may be sold only to accredited investors, which for natural persons, are investors who meet certain minimum annual income or net worth thresholds.
- The securities being offered by PeoplesVC are being offered in reliance on an exemption from the registration requirements of the Securities Act and are not required to comply with specific disclosure requirements that apply to registration under the Securities Act.
- Neither the Securities and Exchange Commission nor any state regulator has passed upon the merits of or given its approval to the securities, the terms of the offering, or the accuracy or completeness of any offering materials.
- The securities being offered by PeoplesVC are subject to legal restrictions on transfer and resale and investors should not assume they will be able to resell their securities.
- Investing in securities involves risk, and investors should be able to bear the loss of their investment.
Please refer to the offering memorandum available at www.accredited-investors-club.com for additional information about the terms and risks of investing in PeoplesVC's offering.
SOURCE PeoplesVC, Inc.