In a Rule 147 (intrastate)offering,a company may only sell its shares to investors in the state in which it is incorporated and does business.

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In a Rule 147 (intrastate) offering, a company may only sell its shares to investors in the state in which it is incorporated and does business. This is because Rule 147 is a safe harbor exemption under the Securities Act of 1933 that allows companies to offer and sell securities within their home state without having to register with the Securities and Exchange Commission (SEC). However, there are certain limitations and conditions that must be met in order to qualify for the Rule 147 exemption.

In a Rule 147 (Intrastate)offering,a Company May Only Sell Its