Capital Conversations

Erik Nelson & Karen Rands
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Welcome to "Capital Conversations," the podcast where we demystify the art of fundraising for privately held and publicly traded companies. Join us as we explore strategies for raising capital, preparing for initial public offerings (IPOs), and equipping investors with the tools to evaluate growth potential. Each episode features industry experts and entrepreneurs sharing insights and real-world experiences, empowering you to navigate the funding landscape with confidence. Whether you're a business owner seeking capital or an investor, tune in for actionable advice and inspiring stories.

Episodes

  1. 2d ago

    Current Events and Market Updates

    After nine episodes covering everything from IPOs and Reg A+ offerings to angel investing and due diligence, it's time to connect the dots. In this milestone tenth episode of Capital Conversations, Karen Rands and Erik Nelson step back to look at the bigger picture: how companies actually move through the capital-raising ecosystem as they grow. From founder capital and friends-and-family funding to angel investors, venture capital, public markets, and ultimately acquisitions or IPOs, they explain how each stage fits together and why understanding the journey matters for both entrepreneurs and investors. The discussion also includes Erik's recent experiences at the Planet MicroCap Conference in Las Vegas and the Bank Holding Company Association conference, providing a firsthand look at how investors evaluate opportunities in today's market. They explore the differences between microcap investors, hedge funds, family offices, private equity firms, and traditional buyout funds while highlighting where growth companies can find capital at different stages of development. Most entrepreneurs focus on raising their next dollar. The most successful entrepreneurs understand the entire capital journey. Whether you're building a startup, preparing for growth, considering a Reg A+ offering, attracting angel investors, or planning an eventual exit, this episode provides a roadmap for understanding how capital flows through the business lifecycle and how investors help drive innovation, job creation, and long-term wealth creation.

    22 sec

  2. Jun 9

    Angel Investing & Sig Mosley

    In this episode of Capital Conversations, Karen Rands and Erik Nelson kick off their angel investing series with a look at one of the most influential investors in the Southeast: Sig Mosley. Often called the "Godfather of Angel Investing" in Atlanta, Sig has spent decades helping entrepreneurs turn ideas into companies, companies into exits, and exits into generational wealth. The conversation explores what angel investing actually is, why it has historically been misunderstood, and how it became one of the primary engines behind innovation in the United States. Karen shares her own introduction to angel investing, her experience running an angel network, and the lessons she learned from some of the country's most successful early-stage investors. They also discuss how access to capital shapes entrepreneurial success, why angel investors play such a critical role before venture capital enters the picture, and how changes in securities laws have opened investing opportunities to a much broader audience than ever before. Along the way, they examine the remarkable impact Sig Mosley has had on entrepreneurs, investors, and the startup ecosystem throughout the Southeast. Most people know the names Amazon, Apple, Google, Microsoft, and Facebook. Far fewer know the names of the investors who believed in those companies when they were little more than ideas. This episode explores why those early investors matter, how wealth is created long before a company goes public, and why angel investing remains one of the most powerful — and least understood — forces in business.

    22 sec

  3. Jun 1

    Interview with Michael Littman

    In this episode of Capital Conversations, Karen Rands and Erik Nelson are joined by veteran securities attorney Michael Littman for a practical discussion about the legal realities behind Regulation A+ offerings and public company capital raises. With nearly five decades of securities law experience and more than 100 companies guided into the public markets, Michael brings a perspective few professionals can match. The conversation explores what companies need to do before they ever file a Reg A+, why financial preparation is often the biggest obstacle to success, and how small mistakes in marketing, disclosures, or investor communications can create serious regulatory problems. They also discuss how public companies can use Reg A+ to raise additional capital, why general solicitation is such a powerful tool, and how companies can leverage crowdfunding without relying solely on venture capital or traditional investment banks. One of the biggest themes throughout the episode is preparation. Strong financial records, experienced advisors, proper disclosures, and realistic expectations matter far more than most founders realize. Companies that approach capital raising strategically often create multiple future options. Companies that don't frequently discover their problems only after regulators, auditors, or investors begin asking questions. Most founders focus on how to raise money. Far fewer focus on how to become investable. This episode explains why that distinction matters—and how companies can avoid many of the mistakes that derail capital raises before they ever get started.

    54 min

  4. May 25

    Introduction to Regulation a and Current Events

    In this episode of Capital Conversations, Karen Rands and Erik Nelson move beyond theory and into real-world examples of companies that used Regulation A+ and crowdfunding to raise capital, go public, and create liquidity for investors—with very different outcomes afterward. They break down the explosive rise of Newsmax following its Reg A+ offering, why investor enthusiasm matters, and how audience loyalty can dramatically impact public market performance. They also examine companies like Boxable, ShiftPixy, Myomo, and Chicken Soup for the Soul Entertainment to show how crowdfunding can create opportunity even when the long-term business outcome becomes more complicated. The conversation digs into something most people misunderstand about private investing: investors can still succeed even if the company later struggles. Timing, liquidity events, valuation, and market demand all matter—and those factors often determine outcomes more than headlines do. They also explore how companies continue raising money after going public, how secondary markets create liquidity for early investors, and why understanding dilution, equity lines, and long-term capital strategy is critical for both founders and shareholders. Most people only hear about crowdfunding when a company succeeds spectacularly—or collapses publicly. What they miss is everything in the middle: the mechanics, the investor psychology, the capital strategy, and the way these deals actually evolve over time. This episode gives a clearer look at how Reg A+ offerings behave in the real world—beyond the hype, beyond the fear, and beyond the headlines. Episode SummaryIn this episode of Capital Conversations, Karen Rands and Erik Nelson analyze several real-world Regulation A+ and crowdfunding case studies, including Newsmax, Boxable, ShiftPixy, Myomo, and Chicken Soup for the Soul Entertainment. They discuss how these companies raised capital, how investors achieved liquidity, what happened after the offerings, and the risks and opportunities associated with alternative public financing paths. The episode also explores secondary markets, equity credit lines, dilution pressure, valuation disagreements, and why strong investor appeal is critical in crowdfunding success. You'll Learn: Why Newsmax became a breakout Reg A+ success storyHow investor demand impacts stock performanceWhat equity credit lines and ATM offerings areWhy dilution matters after an IPOHow Boxable used crowdfunding and secondary marketsWhy valuation disagreements delay IPOsHow secondary exchanges like Hive create liquidityWhy ShiftPixy ultimately failed despite early successHow Myomo used crowdfunding to support medical innovationWhy investors can still profit even if companies later struggleWhat founders should understand before pursuing Reg A+ fundingEpisode Summary

    1h 4m

  5. May 18

    Introduction to Regulation A Offerings

    In this episode of Capital Conversations, Karen Rands and Erik Nelson take a deep dive into Regulation A+ offerings and why they’ve become one of the most important capital raising tools for companies caught in the middle—too large for angel funding, too small for private equity, or simply outside the narrow lane venture capital firms typically pursue. They break down how Reg A+ works, why it matters, and how it changed the landscape of private investing by opening equity opportunities to everyday investors instead of limiting participation to accredited millionaires and institutional money. The conversation also gets into what most companies underestimate when they consider a Reg A+: the preparation, the marketing, the shareholder communication, and the strategy required to make an offering successful. Raising capital this way is not “build it and they will come.” Companies have to create visibility, investor trust, and momentum long before the raise closes. They also explore how Reg A+ compares to Reg D, Reg CF, traditional IPOs, and reverse mergers—and why this pathway may become increasingly important as venture funding tightens and more companies look for alternative ways to scale. Most founders assume their only options are banks, VCs, or giving up control to private equity. That gap leaves a massive number of good companies stuck in place—not because the opportunity isn’t there, but because they don’t know another path exists. This episode explains how Reg A+ works in the real world—so founders and investors can better understand the opportunity, the risks, and the long-term potential of this evolving capital market strategy. In this episode of Capital Conversations, Karen Rands and Erik Nelson break down Regulation A+ offerings and how they give companies an alternative path to raising growth capital outside traditional venture capital and bank financing. They explain the evolution of Reg A+, how it emerged from the JOBS Act, and why it represents what Karen calls the “democratization of the capital markets.” The discussion covers Tier 1 vs Tier 2 offerings, accredited vs unaccredited investors, testing the waters, marketing strategy, shareholder communications, and how Reg A+ can help companies bridge the gap between private and public markets. The episode also explores real-world examples, including Newsmax and BrewDog, and explains why visibility, investor trust, and strategic communication are critical to a successful offering. What Regulation A+ offerings areThe difference between Tier 1 and Tier 2 Reg A offeringsHow Reg A+ differs from Reg D and Reg CFWhy Reg A+ is useful for “middle market” companiesHow general solicitation changed private investingWhy marketing is critical to a successful Reg A+ raiseWhat “testing the waters” meansHow Reg A+ can help companies prepare for uplistingWhy shareholder communication mattersHow ordinary investors can participate in private offeringsEpisode SummaryIn This Episode, You’ll Learn

    58 min

  6. May 11

    IPO Preparedness

    Episode Summary In this episode of Capital Conversations, Karen Rands and Erik Nelson take a deeper dive into IPO preparedness—what companies actually need in place before approaching investment bankers or entering the public markets. They break down the legal, financial, and operational components required to be taken seriously in the IPO process, including corporate structure, proper stock issuance, audited financials, governance, and internal systems. The conversation also explores how companies are evaluated by investment bankers, why preparation impacts valuation and access to capital, and how entrepreneurs can avoid costly mistakes that delay or prevent a successful public offering. In the Episode You'll Learn What “IPO preparedness” really means and why it mattersHow to structure your company for public market readinessThe difference between authorized vs issued sharesWhy improper stock issuance can block an IPOThe role of securities attorneys (and why general attorneys aren’t enough)What PCAOB audits are and why they’re requiredHow financial records and reporting impact capital accessWhy investment bankers pass on unprepared companiesThe importance of governance, boards, and internal controlsHow to position your company for valuation and investor confidence Timestamps 00:22 — Welcome + episode recap and positioning 02:43 — Recap of prior episodes and show structure05:04 — Erik’s background and capital markets overview07:33 — IPOs vs acquisitions as exit strategies10:40 — What is IPO preparedness?11:58 — Why preparation matters to investment bankers14:05 — How companies get in front of bankers (conferences, referrals)15:03 — Corporate structure: C-Corp vs LLC17:29 — Why public markets prefer corporations20:31 — Authorized vs issued shares explained21:54 — Why share structure impacts valuation23:21 — Prior stock issuances and compliance risks24:50 — Securities laws and exemptions (Reg D, 4(a)(2))26:43 — Common mistakes in fundraising compliance29:53 — Fixing past filing mistakes (Form D, etc.)30:32 — Why securities attorneys are essential31:31 — Not all securities attorneys are equal32:51 — Industry conferences and networking (Planet MicroCap)34:42 — Financial preparedness and audit requirements36:09 — PCAOB audits vs standard audits38:44 — Cost and timing impact of poor bookkeeping41:13 — Business plans vs prospectuses42:53 — Role of investment bankers in evaluating companies43:39 — Market comps and valuation comparisons45:35 — Unicorn valuations and market reality48:12 — Venture capital dynamics and buybacks50:03 — Forecasting vs forward-looking restrictions51:15 — Financial models and investor scrutiny51:41 — Corporate governance and board structure52:56 — Exchange requirements (NASDAQ vs NYSE)54:35 — Operational readiness and internal controls56:39 — CEO role and investor relations57:22 — Financial metrics and sustainability58:47 — Crafting a strong investor narrative59:10 — What makes a compelling company story1:02:01 — Public speaking and leadership visibility1:02:45 — Closing remarks and next episode preview

    1h 6m

  7. May 4

    A Conversation with Richard Kreger of Moody Capital

    Episode Summary In this episode of Capital Conversations, Karen Rands and Erik Nelson are joined by Richard Krieger, CEO of Moody Capital Solutions, for a deep, tactical conversation on capital raising strategies that most companies overlook. Richard breaks down how rights offerings work, why they’re often misunderstood, and how they can be used to raise capital while strengthening—not harming—existing shareholder relationships. The discussion challenges common assumptions about dilution, discounts, and traditional financing methods like overnight deals and ATMs. They also explore how market structure, investor behavior, and technology have evolved—and why companies that fail to plan ahead for capital needs often limit their own options. In the Episode You'll Learn: Why rights offerings are one of the most underutilized capital raising strategiesThe biggest mistakes companies make when raising capitalWhy discounts don’t always mean more dilutionHow rights offerings align with long-term shareholder valueThe hidden risks of ATM (at-the-market) offeringsWhy short sellers avoid companies doing rights offeringsThe role of transfer agents in executing capital strategiesHow digital securities and blockchain are evolving the marketWhy timing your capital raise is critical to success Timestamps: 00:24 — Welcome + introduction to Richard Krieger 01:50 — Podcast disclaimer02:40 — Market recap: Dow Jones decline and support levels05:04 — Chart analysis: why markets “fill gaps”05:47 — Richard Krieger background and Moody Capital acquisition08:06 — Lessons from the 2008 financial crisis09:51 — Introduction to rights offerings10:57 — Treating shareholders like customers14:51 — How rights offerings reach all shareholders18:28 — Why most companies don’t use rights offerings20:30 — What companies get wrong about capital raises21:48 — Key insight: discount vs dilution23:21 — Case studies: Amco Pittsburgh, Cytosorbents, FlexShopper24:44 — Who actually participates in rights offerings25:23 — Risks and timing considerations26:02 — Role of investment banks vs management27:00 — Shift from roadshows to digital capital raising28:22 — Investor behavior and transparency29:02 — Problems with ATM offerings31:14 — Why ATMs create uncertainty33:19 — Short selling risks during rights offerings35:39 — Short squeeze dynamics explained36:21 — Overstock digital securities case study39:37 — Blockchain securities and settlement challenges42:47 — Evolution of digital trading infrastructure45:32 — Rights offerings for OTC companies46:25 — Reg A+ and raising up to $75M48:47 — DTC and distribution advantages50:08 — Why adoption of rights offerings may increase50:26 — What’s next for Moody Capital51:52 — Public vs private capital challenges52:36 — Growth of corporate venture arms53:07 — How to contact Moody Capital54:04 — Final takeaway: shareholders are customers55:16 — Choosing the right transfer agent56:15 — Cross-border strategies and listings57:24 — Mountain Share Transfer contact info58:23 — Upcoming conferences58:35 — Closing remarks

    1 hr

  8. Apr 27

    IPOs and Public Listings

    Episode Summary In this episode of Capital Conversations, Karen Rands and Erik Nelson shift into their first “Hot Topics” discussion, breaking down recent market activity and what it means for investors and companies. They analyze the recent pullback in the Dow Jones Industrial Average, explore how market corrections impact IPO activity and valuations, and highlight opportunities that arise during volatility. The conversation also dives into private market strategies, including crowdfunding success stories, venture capital dynamics, and why some companies are delaying IPOs. They wrap with a forward-looking discussion on regulatory changes, the evolving OTC markets, and the potential impact of the proposed Texas Stock Exchange. What the recent Dow Jones pullback means and how corrections are definedWhy market downturns create opportunities for long-term investorsThe difference between public market volatility and private market investingHow crowdfunding can lead to major liquidity eventsWhy venture-backed companies are delaying IPOs and buying back sharesWhat “unicorn” valuations really mean (and why they can be misleading)How OTC market changes and new regulations may impact capital formationWhat the Texas Stock Exchange could mean for competition and regulation00:24 — Welcome + Hot Topics overview01:00 — Disclaimer and purpose of the discussion03:01 — Dow Jones overview and recent market pullback05:02 — Market corrections vs bear markets explained06:57 — Why downturns create buying opportunities07:27 — Public vs private market investing differences11:59 — Crowdfunding success story and liquidity outcomes14:16 — IPO pricing, liquidity, and investor returns17:12 — Share structure and capital strategy20:40 — Why investors need to understand cap tables23:14 — Venture capital behavior and liquidity strategies24:40 — Why companies buy back shares before IPOs27:21 — The truth about “unicorn” valuations31:01 — Venture capital timelines and exit pressure34:15 — OTC markets explained37:26 — New OTC rules and “Expert Market”40:20 — OTC ID and disclosure requirements42:48 — Texas Stock Exchange discussion46:46 — Regulation and SEC vs state dynamics49:07 — FINRA’s role and market oversight53:49 — Future of regulation and market competition57:03 — Upcoming guest preview57:53 — Where to follow Erik58:55 — Closing remarks In This Episode, You’ll LearnTimestamps

    1 hr

  9. Apr 20

    Initial Public Offerings Overview

    Episode Summary In this episode of Capital Conversations, Karen Rands and Erik Nelson break down one of the most important milestones in business growth: going public. They walk through what an Initial Public Offering (IPO) actually is, why companies pursue it, and how today’s market differs from decades past. The conversation expands into alternative paths to the public markets, including direct listings, reverse mergers, and SPAC transactions. They also explore secondary markets, liquidity options for early investors, and how capital raising strategies have evolved. The episode wraps with a discussion on cross-border listings and how companies choose between exchanges like NASDAQ and the NYSE. What an IPO is and why companies go public How today’s IPO market differs from the pastThe role of investment banks in raising capital and pricing offeringsWhat “lock-up periods” mean for insiders and investorsHow secondary markets provide liquidity before an IPOWhat direct listings are and when they make senseThe pros and cons of reverse mergersHow SPACs work—and why they can be riskyWhat cross-border listings and ADRs areHow companies choose between NASDAQ and NYSE00:22 — Welcome + episode overview (IPO focus) 02:07 — Why IPOs matter for wealth creation and liquidity02:52 — “It’s not 1985 anymore”: how IPO markets have changed04:31 — Why companies go public today05:50 — How IPO capital raising actually works07:38 — Lock-up periods explained08:23 — Secondary markets and pre-IPO liquidity10:01 — IPO vs secondary offerings11:48 — Reg A+ and private-to-public transitions12:48 — Broker-dealers and alternative trading systems (ATS)14:13 — Investment banks and IPO opportunities today16:33 — What is a direct listing?18:00 — Spotify example and when direct listings make sense19:47 — What is a reverse merger?20:58 — Why reverse mergers often struggle23:46 — Common mistakes in reverse mergers28:44 — What is a SPAC?30:28 — SPAC risks and investor redemptions32:49 — Real-world SPAC outcomes and pitfalls36:40 — What are cross-border listings?38:30 — ADRs vs ordinary shares explained41:44 — NASDAQ vs NYSE: how companies choose44:22 — Listing requirements and regulatory differences46:33 — Exchange competition and perks48:09 — Wrap-up + next episode preview

    49 min

  10. Apr 13

    Introduction to Capital Conversations

    Hosts: Karen Rands & Erik Nelson Episode Summary In the inaugural episode of Capital Conversations,hosts Karen Rands and Erik Nelson introduce the purpose of the show:demystifying fundraising and capital markets for privately held and publiclytraded companies. They share their professional history, explain why capitalmarkets are more interconnected than most people realize, and outline whatlisteners can expect each month—core topics, timely industry discussions, andexpert guests. In This Episode, You’ll Learn Why fundraising strategy matterslong before IPO conversations begin The difference between primarymarkets (raising capital) and secondary markets (liquidity and price discovery)Why the right advisors can make orbreak capital-raising success How capital structure impactslong-term outcomes What future episodes will cover,including IPO preparation, reverse mergers, SPACs, and market regulation Timestamps 00:22 — Welcome to the first episode00:49 — Karen and Erik’s history and why this show exists02:02 — Helping “middling companies” reach the next lifecycle03:38 — Why capital markets are connected04:11 — Entrepreneurs and investors don’t know what they don’t know06:07 — Purpose of the show and format10:06 — Erik’s background and market experience13:51 — Uplisting, SPACs, and real-world outcomes15:44 — Karen’s background and angel investing journey22:47 — Primary vs. secondary markets24:50 — Liquidity and price discovery explained30:06 — Investment bankers and broker-dealers32:30 — Institutional vs. individual investors35:03 — Transfer agents and their role37:03 — Legal advisors and common mistakes43:25 — Accountants, PCAOB audits, and compliance issues44:24 — Upcoming topics and deep dives45:05 — Next episode preview: IPO markets46:21 — Monthly format and audience engagement50:30 — Where to reach Erik50:51 — Closing remarks

    51 min
  • 10 Episodes

About

Welcome to "Capital Conversations," the podcast where we demystify the art of fundraising for privately held and publicly traded companies. Join us as we explore strategies for raising capital, preparing for initial public offerings (IPOs), and equipping investors with the tools to evaluate growth potential. Each episode features industry experts and entrepreneurs sharing insights and real-world experiences, empowering you to navigate the funding landscape with confidence. Whether you're a business owner seeking capital or an investor, tune in for actionable advice and inspiring stories.

Information

  • Creator
    Erik Nelson & Karen Rands
  • Years Active
    2025 - 2026
  • Episodes
    10
  • Rating
    Explicit
  • Copyright
    © Erik Nelson & Karen Rands
  • Show Website
    Capital Conversations