02.01.2008 Resale of Securities – Significant Changes to Rules 144 and 145
02. 2008
On Feb. 15, 2008, the holding periods for the resale of restricted securities under Rule 144 of the Securities Act of 1933 will be shortened and the other burdens of complying with Rule 144 will be reduced. The changes to Rule 144 will significantly increase the liquidity of privately sold securities and decrease the cost of capital. At the same time, the presumptive underwriter provisions in Rule 145 of the Securities Act will be eliminated, except for transactions involving a shell company.

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