Texas Crowdfunding Issuer (TCI) Rules for Private Placement Memorandum (PPM) Offerings

11 Nov

Texas Crowdfunding Issuer Rules

Texas Approves Equity Crowdfunding Exemption for Non-Accredited Investors

Here are the Texas Crowdfunding Issuer Rules that detail what it takes to issue a Private Placement Memorandum (PPM) for Equity Crowdfunding Offers in the state of Texas:

(b) Issuer.

(1) The issuer is a Texas entity that has filed a certificate of formation with the Texas Secretary of State and is authorized to do business in Texas and:

(A) At least 80% of the issuer’s gross revenues during its most recent fiscal year prior to the offering are derived from the operation of a business in Texas;

(B) At least 80% of the issuer’s assets at the end of its most recent semiannual period prior to the offering are located in Texas;

(C) The issuer will use at least 80% of the net proceeds of this offering in connection with the operation of its business within Texas; and

(D) The principal office of the issuer is located in Texas.

(2) The issuer is not, either before or because of the offering:

(A) A company that engaged or proposes to engage in the business of investing, reinvesting, owning, holding, or trading in securities;

(B) Subject to the reporting requirements of the Securities and Exchange Act of 1934, Section 13or Section 15(d), 15 U.S.C. §78m and §78o(d); or

(C) a company that has not yet defined its business operations, has no business plan, has no stated investment goal for the funds being raised, or that plans to engage in a merger or acquisition with an unspecified business entity.

Click here to see the Texas Crowdfunding Issuer (TCI) Disclosure Requirements.

How to Become a Texas Crowdfunding Issuer (TCI):

To get conduct a Texas equity crowdfunding campaign, Texans need to fill out a Texas Crowdfunding Issuer (TCI) Exemption Notice Form 113.17 and file it with the Texas State Securities Board.

How to Start a Texas Crowdfunding Portal (TCP):

To launch a Texas crowdfunding portal, Texans need to fill out a Texas Crowdfunding Portal (TCP) Registration Form 113.15 and file it with the Texas State Securities Board.

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4 Responses to “Texas Crowdfunding Issuer (TCI) Rules for Private Placement Memorandum (PPM) Offerings”

Trackbacks/Pingbacks

  1. Requirements to Issue #Texas Private Equity #Crowdfunding Offering - Find-Info.Org - November 12, 2014

    […] Requirements to Issue #Texas Private Equity #Crowdfunding Offering […]

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  2. Texas Equity Crowdfunding Disclosure Requirements | Crowdfunding PR, Social Media & Marketing Campaigns - November 14, 2014

    […] Click here to read the requirements to issue a Texas Private Equity Crowdfunding offering. […]

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  3. @FrontPage_PR Targets New #Texas #Crowdfunding Portals and Private Placement Issuers with #Advertising #Marketing and #PR Consulting Services | Crowdfunding PR, Social Media & Marketing Campaigns - November 17, 2014

    […] ideas to start new businesses in Texas. For the first time in 80 years, businesses will be able to sell equity shares in their business to more than 20 million unaccredited investors who live in Texa… via new online Texas crowdfunding portals using general […]

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  4. @FrontPage_PR Seeks #Startups at #Texas #Incubators #Accelerators that Would Like to Try a New Method of Raising Seed #Investment #Capital via Texas #Equity #Crowdfunding Sites | Crowdfunding PR, Social Media & Marketing Campaigns - February 23, 2015

    […] our Texas Equity Crowdfunding Blog to read more about how to setup a Texas Crowdfunding Portal or Issue a Texas Equity Crowdfunding Offering. We can also help setup Equity Crowdfunding Community Outreach Programs and Crowdfunding Training […]

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