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million in a privateplacement transaction in December and an additional $3,7 million in option sales according to a recent SEC D filing. From the announcement: “Under the terms of the offering, the Company will sell an aggregate of approximately 3.26 million ordinary shares at a price of $6.50 per share.&#.
On April 23, 2012, the SEC published guidance reminding issuers that “any offers or sale of securities purporting to rely on the crowdfunding exemption would be unlawful under federal securities laws” until the SEC adopts new rules. Most importantly, the crowdfunding provisions of the JOBS Act are not yet effective.
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