Question Description
Anissuer has not offered or sold securities in the preceding 12 months. OnJanuary 1, it begins a rule 505 offering that remains open until June 1; itsells $4.5 million in securities in the offering. On May 1 of the same year,the issuer begins a rule 504 offering; in the second offering, which is openfor two months, the issuer sells $750,000 in securities. What is the effect ofthe aggregation rules on each of these offerings?
Expert Answer
An issuer has not offered or sold securities in the preceding 12 months. On January 1, it begins a rule 505
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