When they file with the SEC for the Reg A offering
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Posted On: 07/22/2018 3:25:44 PM
When they file with the SEC for the Reg A offering, they file a Form 1-A that will include the offering circular (OC) to be sent to investors.
Under Rule 253(b), a Regulation A OC may be qualified with the final offering price omitted, on the basis of a price range, if the following conditions are satisfied:
1. The securities are being offered for cash.
2. The securities are not being offered by competitive bidding.
3. The outside front cover of the OC includes a bona fide estimate of the range of the maximum offering price and the maximum number of shares or other units of securities being offered.
4. The range does not exceed $2 (in offerings where the top of the range is $10 or less) or 20% (in offerings where the top of the range is over $10).
So will will know the price at which shares will be offered with a $2 range.
Under Rule 253(b), a Regulation A OC may be qualified with the final offering price omitted, on the basis of a price range, if the following conditions are satisfied:
1. The securities are being offered for cash.
2. The securities are not being offered by competitive bidding.
3. The outside front cover of the OC includes a bona fide estimate of the range of the maximum offering price and the maximum number of shares or other units of securities being offered.
4. The range does not exceed $2 (in offerings where the top of the range is $10 or less) or 20% (in offerings where the top of the range is over $10).
So will will know the price at which shares will be offered with a $2 range.
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