Is There a Standard Form of Rule 144A Representation Letter? -
My file of Rule 144A representation letters has been growing fatter, and I‘m not sure why.
I would have hoped that by now there would be just one great form that I could point to, and recycle the rest of them. After all, it should be kind of simple – investor represents to broker-dealer that it’s a QIB. The broker-dealer files the letter in a safe spot, and the purchase price for the securities is wired. (Maybe there’s also a closing dinner?)
So, why are so many forms floating around?
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