Post on 07-Apr-2017
EQUITY CROWDFUNDING
FULLY ALIGNED INVESTMENT
HIGHLIGHTS
Timeline
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Mar 2002ASIC Class Order 02/273 allows 20 retail Investors to invest via
‘Business Mathing Portal’
1998
ASIC Class Orders reviewed for ‘Retail Investors’
Sept 2013
CAMAC’s CSEF discussion paper outlines the governments’ regulatory
and legislative blueprint
May 2014CAMAC releases its findings on
CSEF in Australia, recommending legislative changes
Dec 2014
Department of Treasury releases its CSEF discussion paper
outlining three choices; CAMAC, NZ Regulation, or Status Quo.
May 2015Federal Government indicates in the Budget CSEF to be legislated
in the 2015/16 financial year
Dec 2015
Corporations Amendment (Crowd-sourced Funding) Bill 2015 first
reading.
April 2016*Bill passes both houses, later
recieving Royal Assent
Nov 2016*
ASIC finalises Crowdfunding Platform Procedure, enabling intermediaries to apply for an
ECF AFSL license
Dec 2016*First Equity Crowdfunding raise is
completed via an ECF AFSL licensed platform
Timeline
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3 Core Concepts
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Get Funded Offer Template Advertising
Crowdfunding Equity … it’s a short form off-market IPO
It’s About The MoneyAustralia compared to the US Equity Crowdfunding (Title III)
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USA ($USD)
$5,000,000Via equity crowdfunding, suitable Australian public companies can raise up to $5m from retail investors.
$1,000,000Via equity crowdfunding, American companies are capped at $1m via
equity crowdfunding laws.
Australia ($AUD)
$ $$$$$ $
Offer TemplateProtracted prospectus versus short and sweet offer document.
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Advertising / Soliciting FundingYou know you want it.
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Investors
You Friends / Family
20
Crowd / IPO
500+
Angels VC
50
Investor Friendly Focus
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• Investmentcappedat$10,000perissuerperannum*• 5daycoolingoffperiod (or1month fordefectiveofferdocuments)• Minimummandatorydisclosureviastandardofferdocument*• Liquidity,RiskandDilutionWarnings
• AustralianPublicCompany• Issuingonetypeofshareonly• RelatedPartyLendingprohibition
• Openforum(liveandsuspended offers)&Liveofferdocument• Identityverification(directors, investorsetc)• UpfrontFeedisclosure
• AustralianFinancialServicesLicenceRequiredforPlatforms• CorporationsLawPenaltyRegime• 5yearsunsetonissuerconcessions
Crowdfunding – It’s An Investment Thing
Headline1
Structural2
Transparency3
Oversight4
Only after engaging flight mode
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Fuel Your Start-up
• Affiliation• Customer / Supplier Advocacy• Network effects / Localisation• Market awareness• Validation
Why Crowd First?
• Annual General Meeting Requirements• Disclosing Entity Rules• Audit (if >$1 million raised)• Paper Reporting of Financial Statements
5yr Relief for Eligible Companies
• Co-Investment integration with Angel’s, VC & Industry
• 5 Million Annual Funding Cap• Advertising Concessions• Standardised Offer Document
New funding framework
• Factsaboutthecompany• Sharestructure• Financialstatements• FactsabouttheCSFraise• Mandatoryriskwarnings
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AKA Pitch Deck
Tailored Disclosure Document
Requirements for Offers
WEB
www.bankrolla.com
@bankrollas
www.facebook.com/bankrollas
www.linkedin.com/company/6633634
www.pinterest.com/Bankrolla/
www.instagram.com/bankrollas
Get amongst it
12
Desk by Krisada from the Noun Project
Beer bottle by Raz Cohen from the Noun Project
Cocktail by Okan Benn from the Noun Project
Gas pump by Iris Sun from the Noun Project
Group by Blake Thompson from the Noun Project
Leaves by Pham Thi Dieu Linh from the Noun Project
Statue of Liberty by shimaru from the Noun Project
Artwork Attribution Thanks Created with care by
William NeillCo-Founder
Bankrolla
wneill@bankrolla.com@williamneill
Matthew PinterCo-Founder
Bankrolla
mpinter@bankrolla.com@matthewpinter_
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