Sept. 1, 2015
SendPPM.com announces the release of their web-based PPM distribution platform for use by issuers, broker dealers, investment bankers and other financial professionals in accordance with the new Securities Exchange Commission (SEC) guidelines. This is in response to the SEC’s recent No-Action letter which clarifies the utilization of the internet for online Private Placements under rule 506(b).
In 2012 the JOBS Act lifted the prohibition on advertising or broadly soliciting investor interests in privately held securities, resulting in the establishment of procedures for general solicitation under rule 506(c). However, for a variety of reasons, firms and issuers generally preferred to continue with the tried and true approach, a private sale of securities known as a 506(b) offering. The SEC’s no action letter relative to rule 506(b) opened the door to be able to use the internet to create “pre-existing, substantive relationships” that would be permitted and not be categorized as general solicitation for private placement offerings.
“Our award winning SendPPM.com platform, now in its tenth year, has been used to raise over $1 billion in private placements by issuers, broker dealers and investment bankers, ” said Karen Perkins, President of V-Rooms™, the parent company of SendPPM.com. “We have tailored our solution to meet these new SEC guidelines and open the capital raising process to a wider online global audience of prospective investors.”
In utilizing the SendPPM.com platform, issuers will be able to collect and store confidential information from prospects in a variety of ways, assessing each prospect’s sophistication, financial circumstances, and ability to comprehend investments and their risks. Once this online pre-existing, substantive relationship with an investor is established and the investor is approved as an accredited investor, they can be provided immediate access to the offering documents via SendPPM.com’s password protected website. The platform’s extensive administrative reporting features also provide audit/tracking reports that are essential for adhering to SEC/FINRA regulations, as well as providing a “behind the scenes” view of prospect document viewing activity.
SendPPM.com is a division of V-Rooms™ virtual data rooms that provides a cloud-based, customizable data room solution that is designed to streamline document management, collaboration, exchange and archiving for medical, financial, legal and corporate professionals. The V-Rooms Software-As-A-Service (SAAS) secure document portal facilitates the secure exchange of sensitive information providing compliant and auditable transactions. SendPPM.com provides for the online assembly of investor information and the secure distribution of private placement memorandums to expedite raising business capital. Additional information can be found at www.SendPPM.com
V-Rooms™ provides a cloud-based, customizable virtual data room (VDR) solution that is designed to streamline document management, collaboration, exchange and archiving for financial, legal and corporate professionals. The V-Rooms™ Sofware-As-A-Service (SAAS) secure document portal facilitates the secure exchange of sensitive information providing compliant and auditable transactions. V-Rooms™ enables the acceleration of complex, information-intensive processes while reducing the time and expenses associated with data distribution, courier, printing and travel. Additional information can be found at here.