WR Hambrecht + Co Raises $12 Million in a Reg A+ Offering for ShiftPixy

July 20, 2017

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ShiftPixy Listed on Nasdaq

ShiftPixy Now Listed on Nasdaq: PIXY

WR Hambrecht + Co successfully completed a Regulation A+ offering for ShiftPixy – raising $12 million for the company that is revolutionizing the way shift workers are served. ShiftPixy offers a number of solutions for both part-time workers and employers that fit squarely into the new, explosively growing “Gig Economy.”

WR Hambrecht + Co used its extensive network of broker-dealer partners to place 2 million shares at an offering price of $6.00 per share. Roughly 700 investors contributed at an average size of nearly $17,500 per.

Regulation A+ offerings involve publicly traded shares – and can be listed on national exchanges – ShiftPixy was listed immediately upon the close of the offering and currently trades on Nasdaq.

ShiftPixy faces an enormous opportunity – and was able, through WRH+Co’s marketing efforts, to tell its story to a receptive investor audience – in fact, the stock has performed handsomely – up by over 50% from its offering price. This interest appears to be driving impressive trading volumes – excluding the first day of trading, the running average daily volume is 1.46 million shares. In other words, it’s behaving very much like a conventional, S-1 Offering from a bulge bracket firm.

It is WR Hambrecht + Co’s contention that Regulation A+, introduced as part of the Jumpstart Our Business Startups (JOBS) Act, represents a totally new platform for providing growth capital to promising, early stage companies. And has the potential to stimulate the economy. The Reg A+ format confers several advantages to issuers, including the reach to a broader and greater number of investors. Speed to market is another advantage. Also, costs to the issuer are considerably lower – the combined legal and accounting fees for this recent offering of ShiftPixy tallied substantially less than conventional S-1 offerings that cost well over $1 million.

 

Arcimoto Files for IPO Under Reg A+, Aims to List on NASDAQ

June 22, 2017

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Arcimoto Files Reg+ Initial Public Offering

WR Hambrecht + Co Acting as Sole and Exclusive Underwriter for Arcimoto Reg A+ Initial Public Offering

San Francisco (June 22, 2017) — WR Hambrecht + Co announces that Arcimoto® has filed its Form 1-A Offering Circular for the offering of common stock under SEC Regulation A, setting the stage for a potential future listing on the NASDAQ Capital Market. WR Hambrecht + Co is acting as the sole and exclusive underwriter for the Regulation A+ Initial Public Offering for Arcimoto.

Arcimoto was founded in 2007 to catalyze the shift to a sustainable transportation system. The name Arcimoto means “Future I Drive,” and it is the company’s aspiration to devise new technologies and patterns of mobility that raise the bar for environmental efficiency, footprint and affordability. Arcimoto plans to achieve its mission by replacing the global urban and suburban use of 4,000 lb. internal combustion engine vehicles for regular daily trips with the Arcimoto SRK®, a pure electric solution that is a quarter of the weight, a third the purchase cost, and ten times as efficient as the U.S. average passenger car.

The Arcimoto SRK defines the Fun Utility Vehicle™ category. The SRK delivers a thrilling ride experience, exceptional maneuverability, full comfort for two passengers with gear, optimal urban parking flexibility, and ultra-efficient operation — all at an affordable target base model price of $11,900. Arcimoto has taken the SRK from a napkin sketch, through eight generations of product development, to a refined design on the cusp of series production and market availability. As we shift to a self-driving future, the Arcimoto SRK platform will provide the low cost, ultra-efficient foundation for urban fleet autonomy as well.

“Our team is excited and honored to support this offering from Arcimoto, because their vehicles hold the potential to create a significant paradigm shift in how we all think about mobility, which could represent a tremendous opportunity for all classes of investors,” said John Hullar, Managing Partner, WR Hambrecht + Co. “We are pleased to represent the Arcimoto IPO and we look forward to bringing this offering to the NASDAQ market.”

About Arcimoto

Headquartered and manufactured in Eugene, Oregon, Arcimoto is devising new technologies and patterns of mobility that together raise the bar for environmental efficiency, footprint and affordability. Available for pre-order today with a target purchase price of $11,900, the Arcimoto SRK defines the Fun Utility Vehicle category: it’s the lightest, most affordable and performance-packed electric vehicle suitable for the daily driver. For more information please visit www.arcimoto.com.

About WR Hambrecht + Co

WR Hambrecht + Co has been focused on opening the investing world to as many people as possible at fair market prices and was instrumental in reforming Regulation A to help accomplish that for growth companies and investors. Its Regulation A+ strategy is a continuation of the Hambrecht legacy of conducting small public offerings for what were once considered high-risk start-ups that are now household names and Fortune 500 companies.

Legal Disclaimer

No money or consideration is being solicited by the information in this press release or any other communication and, if sent, money will not be accepted and will be promptly returned. No offer by a potential investor to buy our securities can be accepted and, if made, any such offer can be withdrawn before qualification of this offering by the SEC. A potential investor’s indication of interest does not create a commitment to purchase the securities we are offering. Any such indication of interest may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance is given and all other requirements to accept an investment from a potential investor are met after the offering qualification date.

The offering, after qualification by the SEC, will be made only by means of the Offering Circular. Any information in this press release or any other communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification for sale as provided in Regulation A+ in any such state or jurisdiction.

2017 Bio International Convention

June 20, 2017

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Brain on Drugs

Kurt Kruger of WR Hambrecht + Co speaks at Annual Bio International Panel

San Diego, June 20: Kurt Kruger, Partner – Healthcare, at WR Hambrecht + Co, will present his financing prospective at the Bio International Convention Panel titled:
The Brain on Drugs: New Views and Approaches to Combatting Substance Abuse and Addiction.

The modern-day plague that we broadly refer to as substance abuse will be in focus at a panel session at the well-attended BIO conference in San Diego. We urgently need effective new therapies to combat this epidemic but for a variety of reasons, early stage companies with promising clinical-stage compounds have considerable difficulty in securing adequate funding.

Substance abuse, whether nicotine, alcohol, opioid pain-killers or illicit drugs, is costly to our nation, exacting more than $700 billion per annum in costs related to crime, lost work productivity and healthcare. Recently, the Surgeon General of the United States issued a comprehensive report on the problem, stating that rather than a moral failing, substance abuse disorders ought to be regarded as a chronic disease of the brain deserving of compassion and care. This session brings together a group of experts to discuss the problem, especially the growing epidemic of opioid addiction, including the science behind substance dependency and addiction, the social and economic scope of its effects, the current approaches to treatment and the innovative new therapeutics in development.

In addition to WR Hambrecht + Co’s Kruger, other panel members include Dr. Nora Volkow, M.D., Director of the National Institute on Drug Abuse (NIDA), National Institutes of Health and Dr. Eric Weiss, M.D., of Stanford University, a specialist in Emergency Medicine and Infectious Diseases. The panel will be moderated by Stephen L. Hurst, JD the CEO of Savant HWP – a company that is developing a promising therapeutic to treat substance abuse.

Stephen L. Hurst, JD, President and CEO of Savant HWP and Moderator

Savant HWP is a company focused on undervalued opportunities to develop products with potentially high medical impact, including the treatment of addiction.

Mr. Hurst has more than 25 years of experience in the biopharmaceutical industry and has contributed to the success of numerous complex and challenging healthcare projects. As the Chief Business Officer for The Immune Tolerance Institute (2007-2011), he helped establish a human immune monitoring institute for The Regents of the University of California that discovers and develops immune biomarkers. As a consultant to The World Bank and BIO Ventures for Global Health (2005-2009), he helped establish an innovative funding mechanism for pneumococcal vaccines for the developing world (PneumoAMC), including capacity for two billion vaccine doses and funding of more than $4 billion over the next decade. As Founder, President & CEO of Sequential, Inc. (2002-2004), his team acquired and developed a clinical-stage oncology drug for the treatment of multi-drug resistance. While at Inhale Therapeutic Systems, Inc., (now Nektar Therapeutics, Inc.) (1994-2002), he held several senior executive positions, including Executive Vice President, General Counsel and Secretary, interim Senior Vice President of Operations, Vice President of Intellectual Property and Licensing and Head of Business Development and helped the company grow to over 700 employees, raise more than $700 million in investment capital and out-license multiple clinical development projects, generating revenues in excess of $100 million annually. Mr. Hurst is a graduate of Golden Gate University, School of Law and the University of California, Berkeley.

Panelists

Kurt Kruger, Partner, Healthcare, WR Hambrecht & Co.

Kurt has enjoyed a 30-year career in Medical Technology. His deep involvement in the field has ranged from product design and development as a biomedical engineer to raising capital for, and following, publicly traded medical product companies as an equities research analyst. As a marketing manager at Guidant, now a part of Boston Scientific, Kruger developed the launch plans for the first-ever implantable defibrillator. As a securities analyst, he showed perspicuity leading Hambrecht & Quist in providing venture funds for, and then taking public, Ventritex, which was later acquired by St. Jude Medical. After H&Q, Kruger worked as an analyst for Montgomery Securities and Bank of America. Across twenty years of research work, Kruger oversaw the IPOs for over 30 medical products companies. For the last three years Kruger has headed up the Life Sciences banking effort for WR Hambrecht + Co. Kruger received an Sc.B. degree in Biomedical Engineering from Brown University; a Master’s degree in Bioengineering from the University of Michigan; and a business degree (S.M.) from the Sloan School at the Massachusetts Institute of Technology (MIT). He also completed the premedical post-baccalaureate program at Columbia University.

Dr. Nora Volkow, M.D., Director of the National Institute on Drug Abuse (NIDA), National Institutes of Health

NIDA supports most of the world’s research on the health aspects of drug abuse and addiction. Dr. Volkow’s work has been instrumental in demonstrating that drug addiction is a disease of the human brain. As a research psychiatrist and scientist, Dr. Volkow pioneered the use of brain imaging to investigate the toxic effects and addictive properties of abusable drugs. Her studies have documented changes in the dopamine system affecting, among others, the functions of frontal brain regions involved with motivation, drive, and pleasure in addiction. She has also made important contributions to the neurobiology of obesity, ADHD, and aging. Dr. Volkow was born in Mexico, attended the Modern American School, and earned her medical degree from the National University of Mexico in Mexico City, where she received the Robins award for best medical student of her generation. Her psychiatric residency was at New York University, where she earned the Laughlin Fellowship Award as one of the 10 Outstanding Psychiatric Residents in the USA. Dr. Volkow spent most of her professional career at the Department of Energy’s Brookhaven National Laboratory (BNL) in Upton, New York, where she held several leadership positions including Director of Nuclear Medicine, Chairman of the Medical Department, and Associate Director for Life Sciences. In addition, Dr. Volkow was a Professor in the Department of Psychiatry and Associate Dean of the Medical School at the State University of New York (SUNY)-Stony Brook. Dr. Volkow has published more than 600 peer-reviewed articles and written more than 95 book chapters and non-peer-reviewed manuscripts, and has also edited three books on neuroimaging for mental and addictive disorders. During her professional career, Dr. Volkow has been the recipient of multiple awards. In 2013, she was a Samuel J. Heyman Service to America Medal (Sammies) finalist; and she was inducted into the Children and Adults with Attention-Deficit/Hyperactivity Disorder (CHADD) Hall of Fame. She was elected to membership in the Institute of Medicine in the National Academy of Sciences and received the International Prize from the French Institute of Health and Medical Research for her pioneering work in brain imaging and addiction science. She has been named one of Time magazine’s “Top 100 People Who Shape Our World,” “One of the 20 People to Watch” by Newsweek magazine, Washingtonian magazine’s “100 Most Powerful Women” and “Innovator of the Year” by U.S. News & World Report. Dr. Volkow was the subject of a 2012 profile piece by CBS’s 60 Minutes and was a featured speaker at TEDMED 2014.

Eric Weiss, M.D., The Village Doctor

Dr. Eric Weiss joined the faculty at Stanford University in 1991 and holds positions in both Emergency Medicine and Infectious Diseases. In addition to founding the Stanford Travel Medicine Service, he developed and taught the first formal course on Travel Medicine at a United States medical school and currently lectures and consults internationally on emergency medicine, travel and tropical medicine topics. While at Stanford, Dr. Weiss was Medical Director for Stanford Life Flight as well as Emergency Medical Services for Stanford Hospital. Closer to home, he is the Medical Director for the Woodside Fire Department and is leading efforts to build a local Medical Reserve Corp to better serve the community. From 1995 to 1997 Dr. Weiss was the Chief Medical Officer for San Francisco International Airport where he had his own primary care practice while also being responsible for all airport medical affairs including travel medicine, occupational health, and emergency medical services. From 1999 to 2001, he served as the Chief Medical Officer for MedicinePlanet, Inc., a high tech company dedicated to providing wireless health solutions to the mobile traveler. Dr. Weiss is currently on the Advisory Board of GlaxoSmithKline and Salix Pharmaceuticals helping with market strategies and vaccine development. In 2004 Dr. Weiss relinquished his full time academic Stanford position and founded The Village Doctor, a so-called “Direct Care” or “Concierge Medicine” practice in Woodside. Having three young children at home he crafted a practice model and culture where he would like to have his family be patients. In addition to providing excellent healthcare, the goal was to have patients say “Wow!” when they walked out of the office or hung up the phone. A fellow of both the American College of Emergency Medicine and the Royal Society of Tropical Medicine and Hygiene, Dr. Weiss is also an active member of the International Society of Travel Medicine, the American Society of Tropical Medicine and Hygiene, the American Academy of Family Physicians and the American Society of Concierge Physicians. Dr. Weiss received a BS in Biological Sciences from Stanford, an MD from UCSF, completed his residency and chief residency in Emergency Medicine at UCLA, and trained at the London School of Hygiene and Tropical Medicine, where he received his Diploma in Tropical Medicine and Hygiene.

About Bio International

The BIO International Convention is hosted by the Biotechnology Innovation Organization (BIO). BIO represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products.

ShiftPixy Prepares its IPO listing with Nasdaq with Plans to Close its Reg A+ IPO this June

May 31, 2017

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ShiftPixy Prepares 2017 IPO Listing

San Francisco, CA – May 31, 2017 – WR Hambrecht + Co announces that ShiftPixy, Inc. (NASDAQ: PIXY) (“ShiftPixy”), has filed an amendment to its Form 1-A Offering Circular for the offering of common stock under SEC Regulation A and plans to list on The Nasdaq Capital Market following the conclusion of the offering. WR Hambrecht + Co is acting as representative underwriter for the Reg A+ Initial Public Offering for ShiftPixy.

“Our team is passionate about growth companies such as ShiftPixy, because they represent a great opportunity for all classes of investors,” said John Hullar, Managing Partner, WR Hambrecht + Co.  “We are pleased to offer Reg A+ IPOs to investors and that ShiftPixy will bring its Regulation A+ offering to the NASDAQ market.”

About ShiftPixy

ShiftPixy is a disruptive human capital management (HCM) services provider, revolutionizing employment in the Gig Economy by delivering a next-gen platform for workforce management that helps shift-based businesses navigate regulatory mandates, minimize administrative burdens, and connect them with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy. ShiftPixy’s complete HCM ecosystem manages regulatory requirements and compliance with regard to paid time off (PTO) laws, insurance and workers’ compensation, minimum wage increases, and the Affordable Care Act (ACA) as well as other applicable employment related laws and regulations.

ShiftPixy Co-Founder and CEO, Scott Absher, stated that “Everyone has worked very hard over many months to secure qualification of ShiftPixy’s IPO Offering Statement with the SEC.  In anticipation of the SEC’s qualifying our offering in the near future, we are all excited to start our investor roadshow and other sales activities necessary to successfully close our IPO in the coming weeks.”

About WR Hambrecht + Co

WR Hambrecht + Co has been focused on opening the investing world to as many people as possible at fair market prices and was instrumental in reforming Regulation A to help accomplish that for growth companies and investors. Its Regulation A+ strategy is a continuation of the Hambrecht legacy of conducting small public offerings for what were once considered high-risk start-ups that are now household names and Fortune 500 companies.

Legal Disclaimer

No money or consideration is being solicited by the information in this press release or any other communication and, if sent, money will not be accepted and will be promptly returned. No offer by a potential investor to buy our securities can be accepted and, if made, any such offer can be withdrawn before qualification of this offering by the SEC. A potential investor’s indication of interest does not create a commitment to purchase the securities we are offering. Any such indication of interest may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance is given and all other requirements to accept an investment from a potential investor are met after the offering qualification date.

The offering, after qualification by the SEC, will be made only by means of the Offering Circular. Any information in this press release or any other communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification for sale as provided in Regulation A+ in any such state or jurisdiction.

The Offering Circular can be found here: https://www.sec.gov/Archives/edgar/data/1675634/000147793217002404/pixy_1apos.htm.

 

WR Hambrecht + Co Reports on Reg A+ at the SEC’s Advisory Committee on Small and Emerging Growth Companies

May 10, 2017

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Rob Malin, Head of Equity Capital Markets, delivered a presentation on the emerging Reg A+ market before the SEC’s Advisory Committee on Small and Emerging Companies (ACSEC) in Washington DC.

Rob Malin

Robert Malin, Managing Director & Head of Equity Capital Markets at WR Hambrecht + Co

Rob Malin reported to the commission on the market reception for Reg A+ offerings and WRH+Co’s experience in bringing emerging growth companies to the market through Reg A+.

WRH+Co has been focused on opening the investing world to as many people as possible at fair market prices and was instrumental in reforming Regulation A to help accomplish that for growth companies and investors.

We expect that WR Hambrecht +Co’s early experience will benefit the entire sector as we build a public track record of successful capital raises under Reg A+ and aim to rebuild the small cap market and gain liquidity for the issuer and investor through listed shares on a public marketplace.

WRH+Co is currently working with several companies on Reg A+ offerings including an active offering for ShiftPixy, which is expected to close this Summer. WRH+Co served as Capital Markets Advisor to Elio Motors for its Reg A+ Mini IPO Elio Motors (OTCQX: ELIO) shares.

WR Hambrecht + Co is making sure everyday investors can take part in Reg A+ Mini IPOs

June 09, 2016

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Whitney-White-Equities-Quote-980x588

San Francisco, June 9, 2016 – Whitney White, head of capital markets, gives his view on current investment opportunities for Reg A+ mini-IPOs in an interview with Equities.com. Whit shares his perspective from the time he joined WR Hambrecht + Co to help build the OpenIPO platform. In this interview Whitney gives a good overview of the firm’s history built on the founder, Bill Hambrecht’s, vision of building a transparent, technology-driven process that would level the playing field and enable all classes of investors to participate in IPOs, to be part of the pricing. Attached is the link to the article that serves as a firm update and an update on how WR Hambrecht + Co has evolved to lead the IPO A+ mini-IPO market for investors and issuers.

 

WRH+Co will lead Reg A+ Teach-in for Investors at Sidoti Conference 2016

March 29, 2016

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Sidoti Emerging Growth Conference 2016

WRH + Co Teach-in – Regulation A+ Creates New Options for Investors.

Principals of WRH+Co will lead a teach-in for the Investor on Reg A+ at the Sidoti Emerging Growth Conference highlighting the new opportunities to invest in potentially high-growth companies through the new A+ IPO. John Hullar, Managing Partner, Whitney White, Head of Capital Markets, and Kurt Kruger, Head of the Life Science Practice, will lead WRH+Co’s Q&A Session at the Sidoti Emerging Growth Conference at 4:00pm on Thursday, March 31, 2016.

Regulation A+ Creates New Options for Investors

Reg A+ was intended to help revive the small cap market by allowing early stage growth companies to raise up to $50 million in a public offering through a process that provides streamlined and lower-cost access to the capital markets for the issuer and gives the investor the opportunity to participate in the IPO for these potentially high growth companies. Other advantages include a more open selling process with the opportunity to “Test the Waters,” and the transparency of pre-IPO research available to all investors. Seeking a broad audience of investors, Reg A+ offerings may include novel selling practices such as the use of crowd funding, and other internet-enabled methods. Because the securities offered under Reg A+ are freely tradable, Over-the-Counter ATSes (such as OTCQX, provided by OTC Markets Group) and national exchanges like NYSE and NASDAQ will be used to provide secondary market liquidity.

WRH+Co has Developed a Web-Enabled Platform for Investors

WRH+Co has developed a hybrid, web-enabled platform for public transactions that gives interested investors access to the offering circular and marketing materials, as well as the ability to register their interest level and ultimately even invest directly online if they choose. Please see www.wrhambrecht.com for access to the offering circulars and marketing materials for all current offerings.

About WR Hambrecht + Co
WR Hambrecht + Co was founded in 1998 to level the playing field for investors and issuers. Our Founder, Bill Hambrecht, is a Silicon Valley pioneer who has been financing growth companies from Apple to Google during his time at Hambrecht & Quist and WRH+Co. Since inception WRH+Co has been championing and financing emerging growth companies and currently has four Reg A+ offerings in process and several others preparing a Form 1-A for submission. Active offerings are Aperion Biologics, Allegiancy, BeautyKind and NewsBeat Social.

 

Elio Motors Raises Capital with Reg A+ IPO

March 08, 2016

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Elio Motors is the first US based organization to raise capital using Regulation A+ — WR Hambrecht + Co Serves as Elio Motors’ Capital Markets Advisor

SAN FRANCISCO, CA, March 8, 2016 – On February 19, Elio Motors‘ shares launched on OTCQX. It became the first US-based organization to raise capital using Regulation A+, and also the first to have its shares publicly traded. Nearly $17M in funding was raised on the StartEngine Crowdfunding platform, and those shares are now trading on the OTCQX market. WR Hambrecht + Co serves as Elio Motors’ capital markets advisor and Designated Advisor for Disclosure (DAD), responsible for providing professional guidance on OTCQX requirements, U.S. securities laws, and corporate finance strategy.

WR Hambrecht + Co is currently marketing four new Regulation A+ offerings, acting as sole underwriter for Allegiancy Inc., Aperion Biologics Inc., BeautyKind, and NewsBeat Social.

“We’ve been engaged by a lot of great companies looking to take advantage of the new Regulation A, and I’m glad that we can now get started,” said John Hullar, Managing Partner. “We support the expansion of the Regulation A exemption, because it creates a new option for early-stage growth companies to access public markets through the A+ IPO, which benefits entrepreneurs and Investors, creates jobs and boosts the economy.”

In March 2015, the United States Securities and Exchange Commission (SEC) finalized rules under Title IV of the 2012 Jumpstart Our Business Startups (JOBS) Act, which paved the way for private companies to raise up to $50 million from accredited and non-accredited investors alike. This ruling is known as “Regulation A+.”

These Regulation A reforms will transform and reinvigorate a capital raising for smaller companies, their executives, and their early funders. W.R. Hambrecht + Co., LLC and its founder, Bill Hambrecht, have been longtime advocates for these reforms, and were cited over 40 times in the SEC’s adoption of the rule implementing these changes. WR Hambrecht +Co is now leading the efforts to take advantage of these changes to help numerous great companies obtain the capital they need to survive and grow.

About Elio Motors
Founded by car enthusiast Paul Elio in 2009, Elio Motors Inc. represents a revolutionary approach to manufacturing an ultra-high-mileage vehicle. The three-wheeled Elio is engineered to attain a highway mileage rating of up to 84 mpg, while providing the comfort of amenities such as power windows, power door lock and air conditioning, accompanied by the safety of multiple air bags and an aerodynamic, enclosed vehicle body. Starting MSRP excludes options, destination/delivery charge, taxes, title and registration. Anticipated production date is based upon timely receipt of requisite funding.

About WR Hambrecht + Co
WR Hambrecht + Co was founded in January 1998 to level the playing the field for investors and corporate clients. Like its predecessor firm, Hambrecht & Quist, WRH+Co seeks to identify high prospect growth-stage companies, and then enable access to the capital necessary to fund development, marketing and infrastructure so that these companies can achieve their full potential. WRH+Co’s Regulation A+ strategy is a continuation of Bill Hambrecht’s legacy of conducting small public offerings for what were once considered high-risk start-ups that are now household names and Fortune 500 companies.

Contact Helen Miazga at hmiazga@wrhambrecht.com, or 415-551-3237 or online at wrhambrecht.com.

Disclaimer
These securities are highly speculative. Investing in shares of Elio Motors, Inc. involves significant risks. This investment is suitable only for persons who can afford to lose their entire investment. To obtain a copy of the Offering Circular, go to http://www.eliomotors.com/equity or click here to download directly.

 

2016 J.P. Morgan Healthcare Conference

January 05, 2016

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2016 J.P. Morgan Healthcare Conference

Meet WR Hambrecht + Co at the Annual Healthcare Conference

It has been 34 years since Hambrecht & Quist (H&Q) held the first Healthcare Conference in San Francisco at the Westin St. Francis Hotel in January, 1983. Presenting companies at the first H&Q Conference included hospital operators, medical device manufacturers, a medical information services provider, and five biotechnology startup firms: Centocor, Collagen, Genentech, Monoclonal Antibodies, Inc. and Xoma.

The Conference has been an extraordinarily popular annual event since then. In 1999, after acquisitions, this must-attend meeting was renamed the Chase H&Q Healthcare Conference, then the J.P. Morgan Healthcare Conference. WR Hambrecht + Co, like its predecessor firm Hambrecht & Quist, seeks to identify high prospects growth-stage companies, and provide them with access to the much-needed capital necessary to fund development, marketing and infrastructure allowing them to achieve their full potential.

“We at WR Hambrecht + Co continue to be astonished at the energy, inventiveness and sheer horsepower exhibited by early stage life sciences companies out to improve the human condition and build significant enterprises along the way,”

WRH+Co’s Regulation A+ strategy is a continuation of Bill Hambrecht’s legacy of conducting small public offerings for what were once considered high-risk start-ups and are now household names and Fortune 500 companies. Currently WR Hambrecht + Co has three offerings on file under the new Regulation A+, Hunting Dog Capital Corp., Aperion Biologics Inc. and Allegiancy Inc. “We at WR Hambrecht + Co continue to be astonished at the energy, inventiveness and sheer horsepower exhibited by early stage life sciences companies out to improve the human condition and build significant enterprises along the way,” said Kurt Kruger, Partner, and leader of the healthcare practice.

Kurt Kruger
Partner, Healthcare
Kurt has enjoyed a 30 year career in Medical Technology. His deep involvement in the field has ranged from product design and development as a biomedical engineer to raising capital for, and following, publicly traded medical product companies as an equities research analyst. As a marketing manager at Guidant, Kruger developed the launch plans for the first-ever implantable defibrillator. As a securities analyst he showed uncommon perspicuity leading Hambrecht & Quist to provide venture funds for, and then take public, Ventritex, a high profile, Wall Street darling that was later acquired by St. Jude Medical. Kruger received an Sc.B. degree in Biomedical Engineering from Brown University; a Master’s degree in Bioengineering from the University of Michigan; and a business degree (S.M) from the Sloan School at the Massachusetts Institute of Technology (MIT). He also completed the premedical post-baccalaureate program at Columbia University.

What Regulation A+ Means for Investors

August 07, 2015

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This is another installment in a series of blogs from W.R. Hambrecht + Co., LLC. In this series, we will explore the capital raising challenges facing small and emerging companies and recent regulatory changes that should greatly help executives, venture capitalists, and individual investors meet these challenges head-on.

Investing is almost always a risk/reward proposition. Most start-ups fail. But many don’t. The ones that are successful can lead to significant rewards for their early investors. Who wouldn’t want to have been an early investor in Apple or Google (two companies who we helped take public)? But how do you get to invest?

Until recently, the federal securities laws have largely prevented most ordinary investors from funding early-stage companies. Experienced angel and venture investors that were plugged into the groups, law firms, and brokers-dealers were able to see the deals. But ordinary investors were generally shut out of these opportunities.

Private placements couldn’t be advertised in public, and sales could only be to so-called “accredited investors.” So, if you knew somebody, and you have a lot of money, then you could participate. But if not, then you pretty much had to wait until after an IPO, if one ever came.

Regulation A+ Creates New Options for Investors

On June 19, 2015, revisions to Regulation A (often called Reg A+) became effective, and the world changed. Reg A+ allows companies to raise up to $50 million (including up to $15 million from selling shareholders) from the public markets.

Investors should know that there are two tiers of Reg A offerings. “Tier 1” offerings allow companies to raise up to $20 million, while “Tier 2” offerings allow companies to raise up to $50 million a year. The rules are very different for these two tiers, and investors should be cognizant of the differences.
For companies raising only smaller amounts of capital, but who don’t necessarily have audited financials or the ability to provide much in the line of ongoing reporting requirements, Tier 1 is an option. Investors should be keenly aware of the risks these companies present. These may be offered over the internet, likely with the help of a smaller law firm. Investors should be very careful to conduct their own due diligence of these offerings, particularly if there isn’t an investment bank involved. That’s because investment banks helping with offerings have to conduct basic levels of due diligence to ensure that the companies, the management, and the offerings are all legitimate. States’ regulations of these securities may provide additional protections, but may also limit how tradable and valuable the securities are for investors.

Tier 2 offerings provide significant additional protections for investors, but also additional costs for companies. Most importantly, companies who sell securities using Tier 2 have audited financials and have committed to providing ongoing reporting that should keep investors informed about key issues for the company.

As far as liquidity goes, there should be plenty of places for Tier 2 offerings to trade. For example, OTC Markets Group recently proposed revising its Standards for its OTCQB platform to accept the Tier 2 ongoing reporting as adequate to allow for quoting and trading on its platform. Of course, a company could list on NYSE or Nasdaq, and thus become a full Exchange Act reporting company (with full quarterly SEC filings). And we expect other trading venues to pop up as well. Thus, under Tier 2, no matter what, investors should be able to stay well-informed about their companies and have venues where they can trade their securities.

We expect that ordinary investors seeking to get in on great growth-stage companies may soon be able to access them. Finally. This is the democratization of capital.

If you are an investor looking to access great growth-stage companies, please contact us.