"Rule 144" provides that securities sold pursuant to the "private placement" or "small offering" exemption must be held for six months from the date when the securities are last sold by the issuer.

Question

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Rule 144 pertains to the resale of restricted and control securities, not specifically to securities sold under private placement or small offering exemptions. It generally requires a holding period of six months for securities of reporting companies and one year for non-reporting companies.

"Rule 144" Provides That Securities Sold Pursuant to the "Private