David N. Feldman concentrates his practice on corporate and securities law and mergers and acquisitions, as well as general representation of public and private companies, entrepreneurs, investors, and private equity and venture capital firms. Mr. Feldman also advises emerging growth companies with regard to alternatives to traditional financing through initial public offerings. He is also considered an authority on public offerings through the recently implemented SEC Regulation A+. Mr. Feldman also represents investors, social media sites, public and private issuers and applicants for grow and dispensary licenses in the emerging cannabis industry.
Mr. Feldman has authored four books on finance and entrepreneurship, and contributed to three other books. His latest book, Regulation A+ and Other Alternatives to a Traditional IPO (John Wiley & Sons), was published in March 2018. His popular blog at http://www.davidfeldmanblog.com/, focusing on entrepreneurship and the regulatory environment, has been recognized by LexisNexis as a Top 25 corporate law blog, and his videos appear on his YouTube channel, The Entrepreneur’s Advocate. He also pens a monthly column on cannabis regulation for Honeysuckle magazine.
Mr. Feldman is a graduate of the University of Pennsylvania Law School, and of the Wharton School of the University of Pennsylvania. He has served as chair of the board of Wharton’s global alumni association. To view a video featuring Mr. Feldman discussing his practice, click here.
Areas of Practice
- Corporate Law
- Private Equity
- Securities Law
- Mergers and Acquisitions
- Assisted Green Peak LLC, a Massachusetts cannabis company, in its first closing of the private placement of its Class A Membership Interests.
- Assisted Surna Inc. in completing a $2,685,000 private placement of investment units, each unit consisting of one share of common stock and a warrant to purchase one share of common stock.
- Assisted The Lovesac Company, a furniture retailer specializing in patented modular furniture systems, in successfully completing a multi-million dollar private placement of preferred stock and warrants to various funds and private investors.
- Represented Myomo Inc. in its historic initial public offering, raising an aggregate of approximately $8 million in the IPO and a contemporaneous private offering of investment units. Myomo became the first company to list its stock on a national securities exchange upon completion of an IPO under SEC Regulation A+ under the Jumpstart Our Business Startups (JOBS) Act of 2012.
- Assisted Zeta Acquisition Corp. II in its merger and change of control transaction with Aerpio Therapeutics.
- Represented Double Down Asset Management, LLC in its $1.8 million investment in Step Ahead Innovations, LLC, doing business as MindStream, consisting of common and preferred stock.
- Represented public issuer Minn Shares, Inc. in its change of control transaction with Titan CNG LLC.
- Represented GreenKissNY, Inc. in its $3 million initial public offering under SEC Regulation A+.
- Represented GreenKissNY Inc. in connection with its $2 million private placement of equity securities.
- Represented Phoenix Color Corp. in sale of company to Visant Corp. for $219 million.
- Represented VirnetX Inc. in its going public transaction. It later settled a patent claim with Microsoft for more than $200 million.
- Represented MetSchools and affiliates in the sale of the Claremont School in Manhattan to Meritas LLC.
- Represented Protea Biosciences Inc. in its going public transaction in 2011 and multiple additional financings through 2014 totaling approximately $20 million.
- Represented Eastern Air Lines Group Inc. in $2.5 million private placement.
- Represented shell in reverse merger of Intra-Cellular Therapies, Inc., now with a $1 billion market cap.
- Represented DFA Intercultural Worldwide LLC in its sale to Dwellworks LLC.
- Represented Vertical Lend Inc. in its sale to Upright Holdings Inc.
- Represented Sunrise Securities Corp. as underwriter for public offering of $12 million by Liqtech International Inc.
- Represented MetSchools, Inc in the offering of up to $6 million in notes.
- Represented investment bank in going public transaction of pharmaceutical company and related financing of approximately $5 million.
- Represented Livewire Mobile, Inc. in its acquisition of FoneStarz Medial Group Limited.
- Represented DanDrit Biotechnology Corp. in its going public transaction and $6 million public offering thereafter.
- Represented Leviathan Minerals Group, Inc. in its going public transaction and related $5 million offering of securities through Northland Securities Inc. as placement agent.
- Represented Splinternet Holdings, Inc. (now Defentect Group Inc.) in going public through "self-filing" process.
- Represented investment bank in $5 million private offering for international mining company.
- Represented Lane Capital Markets LLC in $3 million offering by A&P OptMed Partners I, LLC to invest in OptMed Inc.
- Represented Biocontrol Ltd. in going public transaction with AmpliPhi Biosciences (formerly Targeted Genetics), a public operating company.
- Represented JDF Capital LLC in approximately 12 investments in convertible notes issued by public companies in amounts up to $500,000 each.
- Represented supermodel Carol Alt in endorsement deal for nutritional supplement with an equity ownership in the business.
- Represented shell in going public transaction of Cougar Biotechnology, later sold for approximately $1 billion.
- Represented public vehicle in going public transaction of Puma Biotechnology.
- Represented public vehicle in going public transaction of Emmaus Medical Inc.
- Created, took public and handled periodic SEC filings on behalf of approximately 200 Form 10 public vehicle companies between 2005 and 2015.
- New York
- University of Pennsylvania Law School, J.D., 1985
- Editor, Penn Law Forum student newspaper
- The Wharton School of the University of Pennsylvania, B.S., Economics, 1982
- Duane Morris LLP
- Partner, 2015-present
- Richardson & Patel LLP
- Senior Partner, 2010-2015
- Feldman Weinstein & Smith LLP
- Partner, 1996-2010
- Feldman & Ellenoff
- Co-founder and Partner, 1992-1996
- Pryor Cashman LLP
- Senior Associate, 1988-1992
- Reavis & McGrath
- Associate, 1986-1988
- Rivkin Radler LLP
- Associate, 1985-1986
- Association for Corporate Growth, New York Chapter
- Former member, Board of Directors
- Alliance of Merger & Acquisition Advisors
- American Bar Association
- New York Bar Association
- Association of the Bar of the City of New York
- Wharton School of the University of Pennsylvania Alumni Association
- Former President, Chair and Chair Emeritus of the Board of Directors
- New York Business Schools Club
- Founder and First President
Honors and Awards
- LexisNexis Award, Top 25 Corporate Law Blogs in the U.S., 2011 and 2012
- Mann Foundation's "Mann of the Year" Award for Financial Industry Attorney, April 2006
- Wharton School's Alumni Award for Distinguished Service, May 2005
- Wharton Club of New York's WP Carey Outstanding Alumni Award, April 2000
Civic and Charitable Activities
- Venture for America
- Fellows Selection Day Judge, choosing college seniors to participate in startups in disadvantaged cities
- Lawrence Woodmere Academy
- Member, Board of Trustees, 2005-2012
-- Vice-President, 2008-2012
- YRF Darca (charity aiding Israeli education)
- Board Member, 1990-present
- Contributor, Duane Morris Cannabis Industry Blog
Contributor, Monthly Column on Cannabis Law for Honeysuckle Magazine
Quoted, "Canadian Cannabis Investor Continues California Green Rush," The Deal Pipeline, March 29, 2018
Quoted, "Jamaican Cannabis in Focus After Scythian Invests In Marigold," The Deal, March 23, 2018
Quoted, "While Some Will Get Lucky, the Big Winners In Cannabis Will Take These 4 Pieces of Advice From the Experts," Inc., March 5, 2018
Quoted, "Can Reg A+ Companies Get a Taste of Hostess SPAC’s Sweet Success?" RegAResearch, March 1, 2018
Quoted, "Reg A+ 'Mini-IPOs' Face Market Resistance," Law360, February 23, 2018
Quoted, "Canadian Liquor Stores Chain Hits the PIPEs," The Street, February 5, 2018
Featured, "'Godfather' of Reg A+ Says Regulators Should Raise IPO Ceiling to $100 Million," RegAResearch, January 24, 2018
Author, "Reg A+: The SEC Reopens the Front Door to Bring Back the Smallcap IPO," The STA Newsletter 2018, January 2018
Quoted, "My Legal Eagle," The ABC's of CBD
Author, Regulation A+ and Other Alternatives to a Traditional IPO: Financing Your Growth Business Following the JOBS Act, Bloomberg Press, February 2018
Quoted, "Cannabust?," Long Island Business News, December 1, 2017
Quoted, "Canadian Cannabis Companies Hit the PIPE Market," The Deal, November 3, 2017
- Quoted, "For Cannabis Companies, Success Means Tackling Legal Complexity," High.Co, November 1, 2017
- Interviewed in PubCoCEo,"Interview With David Feldman, Author of 'Regulation A+ and Other Alternatives to a Traditional IPO'," October 30, 2017
- Quoted in, TheCorporateCounsel.net, "Where Have the Public Companies Gone - and Why?", June 16, 2017
- Co-author, Duane Morris Alert, "SEC Reopens Front Door for Small Cap Listings as First Regulation A+ IPO Trades on National Exchange,"June 15, 2017
- Quoted in, Growth Capitalist, "Late PIPE Deal Backstops Myomo's Path to First Reg A Exchange Listing," June 12, 2017
- Quoted in Law360, "'Mini-IPO' Could Spur More Listings Through Reg A+ Route," June 12, 2017
- Quoted in The Wall Street Journal, "Here's How To Go Public Without Wall Street," June 1, 2017: Mentioned in, "Term Sheet - Monday, June 5," Fortune, June 5, 2017
- Quoted in Cannabis Law Report, "Duane Morris Tackling the New Global Cannabis Industry," May 17, 2017
- Profiled in Daily Marijuana Observer, "Better Know a Cannabis-Focused Corporate Lawyer," May 16, 2017
- Quoted in The Deal, "First Reg-Lite Listing Seen Opening the Gates," March 16, 2017
- Quoted in Growth Capitalist, "AltaVista's Clients Speak Out (Part 3 of 3)," March 10, 2017
- Quoted in Business News Daily, "Smart Business Opportunities in the Emerging Legal Cannabis Industry," February 3, 2017
- Quoted in Equities.com, "How Reg A+ Could Bring Back the Small-Cap IPO," January 20, 2017
- Quoted in Growth Capitalist, "SEC Forum Takes Stock of Reg A+ Market Progress," November 23, 2016
- Quoted in PIPEs Report, "New Administration Signals Good Times for IPOs," November 15, 2016
- Quoted in Growth Capitalist, "Med-X's Reg A Offering Suspended by SEC for Late Filing," September 29, 2016
- Quoted in Growth Capitalist, "BeautyKind Gives it Another Go," regarding recent Regulation A transactions, September 15, 2016
- Quoted in Growth Capitalist "SEC Wins States' Court Challenge of Regulation A Rules," June 15, 2016
Author, "Is Cannabis the New Alternative Investment?" The Daily Marijuana Observer, June 2, 2017
- Quoted in MG Magazine "SEC: Help or Hindrance?" April 2016
- Quoted in The PIPEs Report "Reg A+ offerings picking up speed," February 9, 2016
- Quoted in Growth Capitalist "State Regulators' Lawsuit Challenging Reg A+ Goes to Court," April 19, 2016
- Author, The Entrepreneur's Advocate blog regarding the regulatory environment, finance and entrepreneurship
- Chapter Author, Crowdfunding, John Wiley & Sons, 2014
- Author, The Entrepreneur's Growth Startup Handbook, John Wiley & Sons, 2013
- Author, Reverse Mergers and Other Alternatives to a Traditional IPO, Bloomberg Press, first edition, 2006, second edition, 2009
- Chapter Author, The Issuer's Guide to PIPEs, Bloomberg Press, 2009
- Chapter Author, PIPES: Revised and Updated Edition, Bloomberg Press, 2005
- Author, "The Uncut Entrepreneur," Monthly Column in SmartCEO Magazine
Selected Speaking Engagements
Panelist, “Down in the Trenches: What it’s Like to Steer a Company Through an Offering,” The Reg A Conference, TKP New York Conference Center, New York, New York, June 12, 2018
Faculty, “Clearing the Haze – Banking and Financing in the Cannabis Industry," Clear Law Institute, Webinar, June 25, 2018
Panelist, “How to Invest in Cannabis Without Getting Burned,” HighNY, New York, New York, April 12, 2018
Speaker, “Regulation A+ at a Glance,” National Investment Banking Association, New York, New York, March 26, 2018
Speaker, "Getting Into the Weeds of Legal Marijuana/Cannabis," NJICLE, New Brunswick, New Jersey, March 26, 2018
Featured on, "Racial Justice Drives Fight for, and Against, Legal Pot in New Jersey," WNYC News, March 12, 2018
Featured on, "Marijuana Advocates Push for Legalization in New Jersey, Despite Federal Rules," WNYC News, February 21, 2018
Interviewed in "David Feldman Interview on Reg A +," LilaMax Video (via YouTube), February 19, 2018
Moderator, "Other Paths to Going Public," SPAC Conference, New York City, February 15, 2018
Speaker, Deals & Divas 2nd Annual Women in Cannabis Event, New York City, February 5, 2018
- Speaker, Women Grow Leadership Summit 2018, Denver, February 1-2, 2018
- Panelist, "The Business of Cannabis," The Long Island Business News, Melville, New York, November 9, 2017
- Panelist, "Market-Driven Financing, Capital Solutions to Accelerate Growth," CohnReznick's Liquidity and Capital Raising National Forum, New York, October 17, 2017
- Featured on "MassRoots, Inc. - A Leading Technology Platform for the Regulated Cannabis Industry @The OTC Markets," Small Cap Nation Video, September 28, 2017
- Moderator, "What Could the NAFTA Renegotiations Mean for Your Business?" Duane Morris LLP, New York, August 15, 2017
- Featured on "David Feldman, Esq., Brings Insight into the Reg A+/Crowdfunding Opportunity," Small Cap Nation, July 20, 2017
- Speaker, "The SEC Reopens the Front Door - Update on Regulation A+ IPOs," Lawline CLE Webinar, September 15, 2017
- Speaker, "Holy Smokes, Cannabis is Big Business," Alliance of M&A Advisors Summer Conference, July 20, 2017
- Presenter, "Financing The Business," Clearing the Smoke: Legal Pathways to Success in the Cannabis Industry, Philadelphia, June 19, 2017
- Speaker, "Cannabis - Investing in One of the Fastest 'Growing' Life Sciences Segments," ACG Webinar, May 9, 2017
- Panelist, "Small Business Capital Formation after the JOBS Act: Where Do We Stand?," ABA CLE Webinar, April 24, 2017
- Speaker, "Banking and Financing in the Cannabis Industry," Lawline Webinar, April 21, 2017
- Speaker, "Regulation A+ and Other Financing Opportunities," Alzheimer's Association Business Consortium (AABC), April 4, 2017
- Speaker, "Regulation A+: After the Offering," Security Traders Association of New York Annual Capital Markets Conference, New York, March 30 2017
- Panelist, "Regulation A+: Bringing Back the Smallcap IPO," National Investment Banking Association's New York Investment Conference, February 28, 2017
- Moderator, "Bringing Back the Small Cap IPO - Reg A 2017," Webcast from the floor of the New York Stock Exchange, January 19, 2017
- Moderator, "State of the Cannabis Industry," Deals & Divas, New York, January 17, 2017
- Panelist, "Cannabis - Investing in One of the Fastest Growing Segments of the Life Sciences Industry," Association for Corporate Growth Westchester/Hudson chapter, Tarrytown, NY, December 9, 2016
- Panelist, "How Capital Formation Options Are Working for Small Businesses After the Implementation of the JOBS Act (David's presentation on Regulation A+ starts at approximately minute 34 on the webcast)," Securities and Exchange Commission's Government-Business Forum, November 17, 2016
- Panelist, "Regulation A+: The New 'Mini IPO,'" DealFlow Media Crowdfunding Conference, New York, October 2016
- Speaker, "Crowdfunding 101," New York City Bar Justice Center - Neighborhood Entrepreneur Law Project, Queens, NY, September 2016
- Speaker, "Legal Issues for Entrepreneurs," Venture for America bootcamp training for incoming Fellows, Providence, RI, July 2016
- Moderator, "Understanding Regulation A+ and the 'Mini-IPO'," 2016 Marcum Microcap Conference, June 2, 2016.
- Speaker, "Legal Issues for Cannabis Companies," Women Grow NYC Signature Networking Event, New York City, March 3, 2016
- Speaker, "Investing in the Emerging Cannabis Industry While Managing Risk," New York City Cannabis Investor Symposium, New York, January 13, 2016
- Host of Webinar, "Legal Issues in Starting a Business," Venture for America, January 12, 2016
- Speaker, "Hot Topics Roundtable Regulation A+: Issues & Applications," New York, November 12, 2015
- Panelist, "The New Era of Public Venture Capital: Status Report on the Reg A+ Market," Growth Capital Summit, Washington, D.C., November 2015
- Panelist, "Regulation A+," Securities Transfer Association Conference, October 2015
- Panelist, "Reg A Plus and Liquidity," First Look Equities Summit, Atlanta, September 29, 2015
- Speaker, "Alternative Public Offerings: Faster, More Cost-Efficient Access to Capital Markets," Strafford Webinar, September 17, 2015
- Host of YouTube video series "The Entrepreneur's Advocate"
- Moderator, "Corporate Governance," Marcum Capital Conference, May 2015
- Moderator, "Regulation A+," Growth Capital Expo, Las Vegas, April 2015
- Speaker, "Entrepreneurship," Columbia University Organization of Rising Entrepreneurs (CORE), February 2015
- Speaker, "Crowdfunding," Alliance of M&A Advisors Conference, January 2015
- Addressed a group of Ecuadorian-American entrepreneurs on entrepreneurship, December 2014
- Panelist, "IPOs," Brooklyn Law School, November 2014
- Panelist, "Accessing Capital," Axial Concord Conference, September 2014