Direct Private Placements

25 Pages Posted: 28 May 2014 Last revised: 29 May 2014

See all articles by William K. Sjostrom

William K. Sjostrom

University of Arizona - James E. Rogers College of Law

Date Written: May 2014


A direct private placement, or DPP, is a private securities offering to investors by a company without the aid of a placement agent. In other words, it is an offering marketed and sold directly to investors by company personnel. The paper examines two impediments to a DPP: (1) a company’s lack of relationships with accredited investors, and (2) company personnel lack of federal broker and state agent registrations.

Keywords: private placement, DPP, general solicitation, broker registration

JEL Classification: G30, K22, M13

Suggested Citation

Sjostrom, William K., Direct Private Placements (May 2014). Kentucky Law Journal, Vol. 102, 2014, Arizona Legal Studies Discussion Paper No. 14-15, Available at SSRN:

William K. Sjostrom (Contact Author)

University of Arizona - James E. Rogers College of Law ( email )

P.O. Box 210176
Tucson, AZ 85721-0176
United States

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