A statement in lieu of prospectus is required to be issued

Question

Quizplus · Accepted Answer

A statement in lieu of prospectus is specifically required in situations where a public company opts to issue shares privately, such as to friends and relatives, rather than through a public offering. This is because the company is not issuing a full prospectus due to the private nature of the share issuance but still needs to provide essential information to the new shareholders.

A Statement in Lieu of Prospectus Is Required to Be