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Securities and Exchange Commission (SEC) Rule 144A Institutional Investors

Latham & Watkins LLP

The Latham Global IPO Guide - 2025 Edition

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This is our global initial public offering guide. It will help you navigate the US portion of a global IPO – in other words, an IPO in which you sell locally listed ordinary shares to investors outside the United States under...more

Latham & Watkins LLP

The Latham Global IPO Guide - 2021 Edition

Latham & Watkins LLP on

This is our global initial public offering guide. It will help you navigate the US portion of a global IPO – in other words, an IPO in which you sell locally listed ordinary shares to investors outside the United States under...more

Womble Bond Dickinson

SEC Expands Definition of Accredited Investor

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On August 26, 2020, the Securities and Exchange Commission (the “SEC”) adopted final rules amending the definitions of both an “accredited investor” under Rule 501 of Regulation D and a “qualified institutional buyer” under...more

Winstead PC

SEC Proposes to Update “Accredited Investor” Definition

Winstead PC on

On December 18, 2019, the SEC proposed to amend its definition of “Accredited Investor” with hopes to expand access to private capital markets to a wider range of investors. The proposed changes create two new categories of...more

Dorsey & Whitney LLP

SEC Proposes Expansion of the Definitions of “Accredited Investor” and “Qualified Institutional Buyer”

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At the Securities and Exchange Commission’s (the “Commission”) open meeting on December 18, 2019, the Commissioners approved proposed amendments to the definition of “accredited investor” under Regulation D under the United...more

Eversheds Sutherland (US) LLP

SEC proposes rule that would expand access to private BDCs 

On December 18, 2019, the Securities and Exchange Commission (SEC) issued a proposed rule – “Amending the ‘Accredited Investor’ Definition” (the Proposed Rule) – that would expand access to private funds for certain...more

Pillsbury Winthrop Shaw Pittman LLP

A Rising Tide May Lift All Boats: SEC Adopts Rule 163B, Permitting All Issuers to “Test the Waters”

The rule is an expansion of a popular modernization reform previously only available to emerging growth companies. All issuers considering a registered securities offering will now be able to engage in “testing-the-waters”...more

Perkins Coie

Blockchain Week in Review - September 2019

Perkins Coie on

U.S. Developments - VanEck and SolidX to Offer Bitcoin ETF to Qualified Institutional Buyers - On September 3, 2019, VanEck Securities Corp. and SolidX Management LLC announced that they are seeking to use Rule 144A of...more

Cooley LLP

Blog: CDI salmagundi (QIBs, foreign private issuers, Reg S and more)

Cooley LLP on

Earlier this month, Corp Fin recently released a slew of new CDIs relating to qualified institutional buyers under Rule 144A as well as all things international. Dedicated to those who like to Below are summaries. Rule...more

A&O Shearman

SEC Staff Releases New Interpretations Relevant for Foreign Private Issuers and Rule 144A

A&O Shearman on

On December 8, 2016, the SEC’s Division of Corporation Finance released new “C&DI” interpretations, many of them applicable in particular to foreign private issuers. They provide welcome certainty for companies seeking to...more

Parker Poe Adams & Bernstein LLP

New SEC Guidance for Rule 144A/Exxon Capital Debt Exchanges

For decades companies have privately issued nonconvertible debt securities to large, sophisticated investors (usually in a Rule 144A transaction) and agreed to exchange those unregistered securities for subsequently issued,...more

Morrison & Foerster LLP - Structured Products

Structured Thoughts: News for the financial services community, Volume 7, Issue 2

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...more

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