Which of the following is true of a Regulation A offering?

Question

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Regulation A mandates that an offering circular be provided to the investors prior to the purchase of securities. This type of offering is designed to facilitate smaller companies' access to capital and requires less disclosure of information than other offerings. Additionally, there are resale restrictions for Regulation A securities, but they only apply to certain investors and are not imposed by the offering itself. Finally, issuers are required to prepare a disclosure document, but it is not the same as a registration statement and is less comprehensive than the information required for other offerings.

Which of the Following Is True of a Regulation a Offering