--- title: "Reg A+ Quarter 2 Overview: High (and Low) Times" description: Interact with FactRight’s Q2 2018 Reg A+ database and learn about the most recent developments in the space. image: https://blog.factright.com/hubfs/Stock%20images/Back%20view%20of%20man%20reading%20newspaper%20at%20home.jpeg --- behance bloglovin dribbble email facebook flickr github gplus instagram linkedin medium periscope phone pinterest rss snapchat stumbleupon tumblr twitter vimeo xing youtube - [Facebook](https://www.facebook.com/FactRightLLC/) - [Twitter](https://twitter.com/factright) - [Linkedin](http://www.linkedin.com/company/395017?trk=tyah) - [Phone](tel:866-357-7779) [Report Center Login >](http://www.factrightreports.com/Account/Login) - [Home](http://www.factright.com/) - [ABOUT US](http://www.factright.com/team/) - Financial Advisory Firms - [FR Risk Management](http://www.factright.com/fr-risk-management/) - [Report Center](https://www.factright.com/resources/report-center/) - [Product Coverage](https://www.factright.com/resources/list-of-coverage/) - Product Sponsors - [Due Diligence Reporting](http://www.factright.com/due-diligence-reporting/) - [Preparing for FactRight Diligence](https://www.factright.com/preparing-for-factright-diligence/) - [Resources](https://www.factright.com/resources/) - [Report Center](https://www.factright.com/resources/report-center/) - [FactRight Webinars](https://www.factright.com/resources/webinars/) - [FAQs](https://www.factright.com/resources/faqs/) - [Events](https://www.factright.com/events/) - [Weekly Updates](https://www.factright.com/weekly-updates/) - [FactRight Blog](https://blog.factright.com/) - [Contact](http://www.factright.com/contact/) # Reg A+ Quarter 2 Overview: High (and Low) Times August 16, 2018 by [Brandon Raatikka](https://blog.factright.com/author/brandon-raatikka) A few months ago, we wrote that [Regulation A was at a crossroads](https://blog.factright.com/reg-aplus-at-a-crossroads)—SEC qualification activity of Reg A+ deals was at an all-time high, and while regulators were tinkering with ways to increase use of the exemption, issuer scandals were calling Reg A+’s long term viability into question.  Since we last checked in on Reg A+ on this blog, the space has continued to experience a mix of disappointing and intriguing developments on the capital-raising and regulatory fronts: - In the second quarter of 2018, the SEC qualified only nine new Reg A+ offerings (not used for merger or other certain other purposes). This is the lowest quarterly total since the fourth quarter of 2015, when the first deals filed under the newly expanded Regulation A made it to market. - In May, President Trump signed into law the Economic Growth, Regulatory Relief, and Consumer Protection Act, which among other things, allows Exchange Act reporting companies to issue securities under Regulation A. OTC Markets called it a “[pivotal milestone for smaller companies and issuers](https://www.crowdfundinsider.com/2018/05/134174-otc-markets-welcomes-expansion-of-reg-a-exemption-to-reporting-companies/).” CEO Cromwell Coulson believes that the new regulation will “increase the number of public companies that can efficiently access our capital markets”—through Reg A+. - The Regulation A+ Improvement Act, which would raise the maximum offering amount under Tier 2 to $75 million, is still awaiting action in the Senate after being passed by the House in March. - More cryptocurrency issuers and firms are seeing Reg A+ as [a compliant way to undertake ICOs](https://www.ccn.com/75-million-reg-a-cap-expansion-could-see-more-icos-file-in-the-us/), even if it does pose some limitations. - Hightimes Holding Corp. (which yes, publishes High Times Magazine) recently issued—through Regulation A—the first public offering in history [that will accept subscriptions in cryptocurrency such as Bitcoin or Ether](https://www.forbes.com/sites/andrebourque/2018/08/05/weeds-biggest-wedding-announcement-just-happened-and-cryptocurrency-is-the-bride/#1520200a28eb).   ## **JOBS Act 3.0** However, it’s what’s been dubbed as “JOBS Act 3.0” that may most critically alter the prospects of Reg A+ and small capital formation in general in the near future. Officially known as the JOBS and Investor Confidence Act, versions of this bill have been passed by both the Senate and House but must be reconciled through conference committee or Senate action before going to the president. JOBS Act 3.0 is really a package of 32 different pieces of legislation aimed at streamlining regulation to spur capital formation for small- and medium-sized U.S. companies. Among other important measure (helpfully summarized by Skadden [here](https://www.skadden.com/insights/publications/2018/07/the-jobs-act-regulatory-reforms)), JOBS Act 3.0 would broaden the definition of accredited investor to include many financial service professionals, relax restrictions on general solicitation in certain contexts, and authorize the creation of “venture exchanges” for the trading of emerging companies not yet publicly registered, including Reg A+ issuers. These venture exchanges could provide another path to liquidity for Reg A+ securities, in addition to listing on an exchange or with the OTC Markets.   ## **Interact with FactRight’s database** Meanwhile, below is an interactive summary of FactRight’s Tier 2 Regulation A database, updated for offerings qualified through the end of the second quarter. The charts below are dynamic; if you click on a single data point in any chart, it will filter the data displayed on the sidebar at left and in the remaining charts. Hover your cursor over a chart for additional information.   [![Sign Up for Blog Updates](https://hubspot-no-cache-na2-prod.s3.amazonaws.com/cta/default/2777169/615a23e3-2584-4832-82ab-621b9389450d.png)](https://hubspot-cta-redirect-na2-prod.s3.amazonaws.com/cta/redirect/2777169/615a23e3-2584-4832-82ab-621b9389450d) [Loan Guarantee Fees in Investment Programs: Risk Compensation or Rent Seeking?](https://blog.factright.com/loan-guarantee-fees) [Reg A+ Quarter 4 Overview: Waiting for Legislative Upgrades](https://blog.factright.com/reg-a-quarter-4-overview-waiting-for-legislative-upgrades) [Reg A+ at a Crossroads](https://blog.factright.com/reg-aplus-at-a-crossroads) [Q4 Caps Off Strong Year for Reg A+](https://blog.factright.com/q4-caps-off-strong-year-for-reg-a) Filed Under: [Regulation A+](https://blog.factright.com/topic/regulation-a) ### Get Blog Notifications ### categories - [Due Diligence (85)](https://blog.factright.com/topic/due-diligence) - [Best Business Practices (39)](https://blog.factright.com/topic/best-business-practices) - [Alternative Investments (32)](https://blog.factright.com/topic/alternative-investments) - [Real Estate (29)](https://blog.factright.com/topic/real-estate) - [About FactRight (27)](https://blog.factright.com/topic/about-factright) - [REITs (27)](https://blog.factright.com/topic/reits) - [Best Practices (24)](https://blog.factright.com/topic/best-practices) ### Archives - [April 2026 (1)](https://blog.factright.com/archive/2026/04) - [March 2026 (1)](https://blog.factright.com/archive/2026/03) - [January 2026 (1)](https://blog.factright.com/archive/2026/01) - [September 2025 (1)](https://blog.factright.com/archive/2025/09) - [March 2025 (1)](https://blog.factright.com/archive/2025/03) - [October 2024 (1)](https://blog.factright.com/archive/2024/10) - [May 2024 (1)](https://blog.factright.com/archive/2024/05) - [March 2024 (1)](https://blog.factright.com/archive/2024/03) - [November 2023 (1)](https://blog.factright.com/archive/2023/11) - [September 2023 (1)](https://blog.factright.com/archive/2023/09) - [August 2023 (1)](https://blog.factright.com/archive/2023/08) - [June 2023 (2)](https://blog.factright.com/archive/2023/06) - [March 2023 (1)](https://blog.factright.com/archive/2023/03) - [February 2023 (1)](https://blog.factright.com/archive/2023/02) - [January 2023 (1)](https://blog.factright.com/archive/2023/01) - [December 2022 (1)](https://blog.factright.com/archive/2022/12) - [November 2022 (1)](https://blog.factright.com/archive/2022/11) - [October 2022 (1)](https://blog.factright.com/archive/2022/10) - [September 2022 (1)](https://blog.factright.com/archive/2022/09) - [August 2022 (1)](https://blog.factright.com/archive/2022/08) - [July 2022 (2)](https://blog.factright.com/archive/2022/07) - [June 2022 (1)](https://blog.factright.com/archive/2022/06) - [May 2022 (1)](https://blog.factright.com/archive/2022/05) - [April 2022 (2)](https://blog.factright.com/archive/2022/04) - [March 2022 (2)](https://blog.factright.com/archive/2022/03) - [February 2022 (2)](https://blog.factright.com/archive/2022/02) - [December 2021 (2)](https://blog.factright.com/archive/2021/12) - [November 2021 (1)](https://blog.factright.com/archive/2021/11) - [October 2021 (1)](https://blog.factright.com/archive/2021/10) - [September 2021 (1)](https://blog.factright.com/archive/2021/09) #### Contact FactRight, LLC 7500 Flying Cloud Drive, Suite 755 Eden Prairie, MN 55344 Call Today: (612) 284-6150 [http://www.factright.com/](http://www.factright.com/)[info@factright.com](mailto:info@factright.com%20target=)   #### FactRight Report Center Independent risk assessment and third party due diligence reports. **[Log In >](http://www.factrightreports.com/Account/Login)** #### Looking for Something? - [Facebook](https://www.facebook.com/FactRightLLC/) - [Twitter](https://twitter.com/factright) - [Linkedin](http://www.linkedin.com/company/395017?trk=tyah) - [Phone](tel:866-357-7779) Copyright © 2019 · [FactRight, LLC](http://factright.suiportal.com/) · [DISCLAIMER](http://www.factright.com/disclaimer/)