To qualify for a Rule 147 (intrastate) public stock offering, a company must ________ in the state in which it makes this offering.
A) be incorporated and maintain its executive offices
B) derive 80 percent of its revenue
C) use 80 percent of the offering proceeds for business
D) All of the above

Question

Quizplus · Accepted Answer

To qualify for a Rule 147 (intrastate) public stock offering, a company must meet all of the requirements listed in choices A, B, and C. The company must be incorporated and maintain its executive offices in the state in which it makes the offering, derive at least 80 percent of its revenue from within the state, and use at least 80 percent of the proceeds from the offering for business purposes within the state.

To Qualify for a Rule 147 (Intrastate) Public Stock Offering