Client Alert
SEC Adopts Revisions To Rules 144 and 145
December 21, 2007
Last month, the SEC adopted amendments to Rules 144 and 145 under the Securities Act of 1933. Among other things, the amendments reduce applicable holding periods from the current one-year and two-year periods to six months or one year, depending upon the nature of the transaction, and permit non-affiliates to resell securities freely after the applicable holding period, in each case subject to certain restrictions. The amendments, which become effective February 15, 2008, are designed to increase the liquidity of privately sold securities and decrease the cost of capital for all companies without compromising investor protection.
Click here to read our client alert summarizing the Rule 144 and Rule 145 amendments.
If you have any questions regarding this client alert, please contact the Womble Carlyle attorney with whom you usually work or one of our Corporate and Securities attorneys.
This document is intended as an informational reminder and does not constitute legal advice. If you have any questions or would like to discuss a particular situation, please contact Womble Carlyle Sandridge & Rice, LLP. The purpose of this article is to provide general information about significant legal developments and should not be construed as legal advice on any specific facts and circumstances.
