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If Regulation D Is Not Available?
August 2, 2011 /
While Regulation D has proven in practice to be extremely useful in aiding venture-backed placements, not every issue can or will be sold in compliance with the exemption. Regulation D specifically provides that it is not exclusive; thus, §4(2) is (at least theoretically) available in time of need. Certainly, however, the occasion for sole reliance on §4(2) will be infrequent. If Regulation D is lost because there has been a "general solicitation," one can hardly imagine the circumstances that could encourage the issuer to turn to §4(2).
by Joseph W. Bartlett
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Posted in: Funding and Building your Business