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17 CFR--PART 229

View Printed Federal Register page 85 FR 22002 in PDF format.

Amendment(s) published April 20, 2020, in 85 FR 22002

Effective Dates: Jan. 4, 2021

9. Amend §229.504 by revising Instruction 6 to read as follows:

§229.504   (Item 504) Use of proceeds.

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Instructions to Item 504: *  *  *

6. Where the registrant indicates that the proceeds may, or will, be used to finance acquisitions of other businesses, the identity of such businesses, if known, or, if not known, the nature of the businesses to be sought, the status of any negotiations with respect to the acquisition, and a brief description of such business shall be included. Where, however, pro forma financial statements reflecting such acquisition are not required by §§210.1-01 through 210.13-02 (Regulation S-X) of this chapter, including §210.8-05 (Rule 8-05 of Regulation S-X) of this chapter for smaller reporting companies, to be included in the registration statement, the possible terms of any transaction, the identification of the parties thereto or the nature of the business sought need not be disclosed, to the extent that the registrant reasonably determines that public disclosure of such information would jeopardize the acquisition. Where Regulation S-X, including §210.8-04 (Rule 8-04 of Regulation S-X) of this chapter for smaller reporting companies, as applicable, would require financial statements of the business to be acquired to be included, the description of the business to be acquired shall be more detailed.

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