If you want to hit up the crowd for equity capital under Michigan’s new crowdfunding law, you’ll probably have to do it without Tweeting, Facebooking or Linking In details of your deal.
Newly issued U.S. Securities and Exchange Commission guidance makes it clear that the social media tactics companies have used to raise billions of dollars on crowdfunding sites like Kickstarter or Indiegogo won’t be allowed for Michigan companies trying to sell stock via crowdfunding, according to West Michigan securities experts.
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