The Portland-based media company plans to list on NASDAQ after it reaches the crowdfunding goal.
The company is taking advantage of new rules established last year that adjusted the Regulation A small public offerings rule. It allows non-accredited investors to participate in funding rounds and eases the regulatory burden in order to help small, high-growth companies access public markets. In this case, the company is interested in both accredited and non-accredited investors as well as institutions that want to participate.
The company hired investment bank WR Hambrecht + Co. to handle the offering. Once the round is closed, the company intends to list on the Nasdaq Capital Markets, an exchangedesigned for companies with small market capitalizations. The company will trade under the ticker “NEWZ.”
(READ MORE: Portland Business Journal)