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Raising Capital Through a Public Offering
Startups and SMEs, in particular, often have difficulty obtaining bank loans to finance their ventures for a variety of reasons. In such cases, investment products available on the capital market often offer an attractive alternative. When is the requirement to prepare a prospectus triggered, and when might a private placement be considered?
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Asset Investment Under MiCAR – Is a Securities Prospectus or Crypto Whitepaper Needed for the Public Offering?
Asset investments under the German Asset Investment Act are not considered financial instruments under MiFID2 because they are based on national regulation. Can they therefore be subject to both German regulation as an asset investment and MiCAR regulation and what are the implications of this?
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WIB or BIB – When Must Which Documentation Be Provided?
In principle, a WIB can be prepared instead of a securities prospectus for securities issues with smaller volumes in Germany. In certain cases, however, a BIB must be prepared instead of the WIB. What are the differences between the various information sheets and what advantages are associated with each of them?
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Prospectus, WIB or Nothing at All – Which Documentation is Required for Which Security Token Offering?
Security token offerings generally require an officially approved security prospectus. But the entire prospectus is not required in each and every case.
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How Should a Security Token be Legally Designed?
Since a few weeks the German crypto community celebrates the first BaFin approved securities prospectus, being fully compliant with German regulatory laws and statues. With this approval BaFin really displayed an innovative and progressive attitude towards blockchain based funding methods. At least three more STO prospectuses are currently awaiting BaFin’s approval and more will follow. […]
