On July 18th, the SEC issued final rules to amend the Securities Act Rule 701. Rule 701 provides an exemption from registration for securities issued by non-reporting companies pursuant to compensatory arrangements. The amendment increases the threshold of aggregate sales price or amount of securities sold in excess of which the issuer is required to deliver additional disclosures from $5 million to $10 million, in accordance with the Economic Growth, Regulatory Relief, and Consumer Protection Act.
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