Typically, foreign companies seeking to raise capital attempt to obtain public company status. Foreign companies that go public in the U.S. may complete a public offering by registering securities with the Securities and Exchange Commission (“SEC”) under the Securities Act of 1933, as amended (the “Securities Act”) or by registering a class of securities under the Securities Exchange Act of 1934 (the “Exchange Act”).
Foreign issuers seeking to go public have several options for their transactions. Foreign issuers seeking to go public in the U.S. may complete an initial public offering or direct public offering by registering an offering of securities with the Securities and Exchange Commission (“SEC”) under the Securities Act of 1933, as amended (the “Securities Act”).
Albert Reda, the former treasurer and chairman of the board of directors of First Global Financial Corporation, was sentenced for his role in a fraudulent kickback scheme. After a six-day trial, Reda was convicted of wire fraud and mail fraud.
After an issuer completes its going public transaction, an issuer that has filled a registration statement for an initial or direct public offering under the Securities Act of 1933, as amended must file annual, quarterly and current reports with the Securities and Exchange Commission under Section 15(d) of the Securities Exchange Act of 1934. #securities #lawyer #exchange #goingpublic
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Preparing for a direct public offering takes both a commitment of time and money. Unlike an initial public offering (“IPO”), a direct public offering does not involve an underwriter. While it often, it takes a year or longer to plan for and complete an IPO, a direct public offering can be completed in as little as 90 days.