Jury Duty, Little Sleep, and Work Left Behind
I just finished two weeks of jury duty. I began writing as the trial started last week, after nearly three full days of jury selection. This criminal trial involved a serious vehicle collision in the state of North Carolina. As required by law, I am only sending this newsletter and discussing the circumstances after the […]
506(b) vs. 506(c): Which One Fits Your Fundraise?
Choosing the right Rule 506 option under Regulation D of the Securities Act when raising private capital is often not simple. Rules 506(b) and Rule 506(c), the two most popular Reg D exemptions, have key differences. Your best choice depends on factors such as your targeted investor type, your desired marketing approach, and your determined […]
A Resource for Advisors:
Elevating Conversations About Selling a Business
Helping Clients Explore Business Sales with Foresight and Confidence This month, I had the opportunity to present to a major commercial bank on a topic that has been central to my practice for decades: how to prepare clients mentally, emotionally, and operationally for exploring the sale of their business. While M&A expertise may not be […]
The Hidden Risks of Newer Boards—and Why Guardrails Matter
Last month, I joined a panel at the Private Company Governance Summit in Washington, D.C., focused on a critical but often-overlooked issue: conflicts of interest on newer private company boards. The conversation, moderated by Bill Hayes and joined by Tom Sween and Jim McHugh, sparked a level of engagement that confirmed what I’ve long believed: […]
Top Five Trends in (Smaller) M&A
Or, stated another way…. Private Equity is Hungry in 2025: What SMB Founders Need to Know How often have you seen a newsletter about the “TOP TRENDS IN M&A” and started reading with excitement, only to find that the author’s content is about large M&A deals and offers little value to founders and owners of […]
Chaperoning Broker-Dealer Engagements –
How Do They Work?
If you are a foreign broker dealer – that is, a broker-dealer NOT registered with the U.S. Securities & Exchange Commission (SEC) – you can still conduct securities business in the United States. Fortunately, you are not required to become a licensed U.S. broker dealer. Instead, you can partner with TOBIN and be “chaperoned” under […]
Common Pitfalls in M&A – and How to Avoid Them
It’s an understatement to say that delving into a merger with, or the sale or purchase of, a company is a momentous business move. It makes sense that the M&A journey can be fraught with pitfalls. These are the hazards that I, with my decades of M&A experience, find to be quite common and that […]
Mergers and Acquisitions: Key Steps and Strategies for Success
Growth through M&A is never accidental. It’s the result of deliberate strategic alignment, exhaustive planning and experienced execution. At TOBIN, we understand that pursuing a merger or acquisition isn’t about volume or vanity—it’s about precision, insight and value creation. Understanding the Difference: Merger vs. Acquisition A merger typically joins two companies of comparable size and […]
Maximizing Value: Why TOBIN is the Right Investment Banker for Your Small-Company Business Sale
Embarking on the journey of selling your business is a monumental decision, one that necessitates an advisor who not only comprehends the intricacies of mergers and acquisitions (M&A) but also tailors its approach to the unique aspects of your company. For sellers with revenues of $25 million or less, who may be feeling a bit […]
Know the Difference—Choosing between 506(b) and 506(c)
KNOW THE DIFFERENCE – EDUCATE YOURSELF! Your Reg D Private Placement Offering: Choosing between 506(b) and 506(c) for your Registration Exemption Last month I wrote to you about your registration exemptions when you sell a Reg D private placement. Generally, the exemptions that we choose from are 506(b) or 506(c): 506(b) – Old fashioned, been-around-forever […]