Regulation A+ Overview

Regulation A (also called Reg A or Reg A+) is an exemption from registration for public offerings, but the disclosures required under this exemption are similar to those required in registered offerings. Reg A+ includes two offering tiers: Tier 1 for offerings of up to $20 million and Tier 2 for offerings of up to $75 million, in a 12-month period.

In this overview, we define the key components of this exemption, the benefits and limitations of Reg A as a capital raise strategy and what “testing the waters” means. We also explore Tier 1 and Tier 2 offering requirements, as well as disclosures and reporting guidelines. 

This resource is helpful for any organization interested in Regulation A as a capital raise strategy.