By Dan DeWolf and Samuel Effron

Dear Readers,

In this issue we focus on a number of basics for building growth enterprises. We lead off with a terrific podcast on the importance of assembling a strong board of directors. We follow with an article on a new securities law that permits the aggregation of up to 250 investors in a single investment vehicle so long as the entity has no more than $10 million in capital contributions. This new law will be particularly useful to online platforms that aggregate angel and seed investors to invest in start-ups. We then discuss the importance of stock options and creating a culture of ownership, another basic in creating a valuable company. We conclude this issue with two innovator profiles: BioLabs@NYULangone, a new shared wet lab space located in New York’s SoHo neighborhood, and RainFocus, which provides a software platform for delivering insights and marketing messages at large-scale conferences and events.

We continue to see tremendous activity in the tech sectors and in particular in biotech and fintech. We also see, and are participating in, a tsunami of activity in digital token offerings that are compliant with SEC rules and regulations. As with all new tools for raising capital, the basics of building a meaningful business remain the same, and that is why we urge all of our clients to build a strong foundation for their enterprises.

Sincerely yours,

Dan + Sam

CONTENTS

From the Edge: Jeff Belk Discusses the Importance of Building a Great Board of Directors

New Beneficial Owner Threshold Eases VC Fundraising

Why Does a Company Issue Stock Options?

Innovator Profile: BioLabs New York

Innovator Profile: RainFocus

Congratulations to Killer Snails