Revised August 1st, 2024

“It has been 4 years since I first published this Guide. More and more companies
continue to turn to investment crowdfunding to find investors to grow their business.
Now as then, the Regulation D market is still the main source of funds for
crowdfunded offerings. Overall, Regulation D which brought $2 trillion in new
investment capital into the market in 2020, now brings more than $4 trillion per
year and is still growing. At the same time the costs of a Regulation D offering have continued to come
down. The private placement memoranda (PPMs) that were the accepted method of
delivering the required information to investors are fast becoming obsolete.”