Bill > S3298

This bill, the Helping Angels Lead Our Startups (HALOS) Act of 2023, requires the Securities and Exchange Commission (SEC) to revise its rules on general solicitation or advertising to allow certain presentations and communications by issuers at events sponsored by various entities, including the government, educational institutions, and angel investor groups. The bill defines an "angel investor group" as a group of accredited investors interested in investing personal capital in early-stage companies, and an "issuer" as a non-bankrupt business that is not a blank check, blind pool, or shell company. The revised rules would allow issuers to provide limited information about their securities offerings at these events, as long as the event sponsors do not make investment recommendations or engage in active investment negotiations. The bill also clarifies that attendance at these events does not, by itself, establish a pre-existing relationship between the issuer and a potential investor for the purposes of certain SEC regulations.

Housing and Urban Affairs

https://www.congress.gov/bill/118th-congress/senate-bill/3298/all-info