SEC Proposes Amendments to Rule 144 and Form 144
By EsqSocial Corporation 13/01/21
On December 22, 2020, the U.S. Securities and Exchange Commission (SEC) proposed to amend Rule 144 to revise the holding period determination for securities acquired upon conversion or exchange of certain “market adjustable securities” of unlisted companies so that it does not begin until the securities are acquired upon the conversion or exchange. The proposed change is intended to mitigate the risk of unregistered distributions in connection with sales of market-adjustable securities....
By: Skadden, Arps, Slate, Meagher & Flom LLP