1-Hour Program

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Many smaller public companies seek access to financing through equity line financing arrangements.  Equity line transactions often are confused with continuous offerings that are structured as at the market offering programs.  Each financing alternative has distinct characteristics, and differ in important respects.  During this presentation, the speakers will discuss the following:

  • Basic structure of an equity line; public versus private
  • SEC’s historic analysis of private equity lines;
  • Registration of securities sold in private equity line transactions;
  • Overview of, and application of Nasdaq 20% limitation / shareholder vote rules to equity line financings;
  • At the market offering basics;
  • Application of Nasdaq rules to ATMs;
  • Differences between equity lines and ATMs; and
  • SEC’s S-3 baby shelf rules applied to continuous offerings.


Program Level: Update

Intended Audience: Outside attorneys, in-house counsel, investment banks and other financial advisors, compliance professionals, chief financial officers, treasurers or other funding and accounting professionals and other allied professionals involved with offerings

Prerequisites:  None

Advanced Preparation: None




Steven G. Martin

Aspire Capital Partners, LLC


Anna T. Pinedo

Mayer Brown LLP


Nikolai Utochkin

Nasdaq, Inc.

Credit Details

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