SEC Approves More Rigorous Listing Requirements of the Major U.S. Stock Exchanges for Reverse Merger Companies

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The Securities and Exchange Commission has approved amendments to the listing rules of The NASDAQ Stock Market LLC, New York Stock Exchange LLC and NYSE Amex LLC which impose new requirements on operating companies going public by completing reverse mergers with SEC-reporting shell companies, including reverse mergers with unlisted special purpose acquisition companies (SPACs).

On November 8, 2011, the Securities and Exchange Commission (SEC) approved amendments to the listing rules of The NASDAQ Stock Market LLC (NASDAQ), New York Stock Exchange LLC NYSE) and NYSE Amex LLC(NYSE Amex) (collectively, the Exchanges) which impose new requirements on operating companies going public by completing reverse mergers with SEC-reporting shell companies (reverse merger companies).

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