Companies that go public via S-1 Registration Statement can later file an 8-A12(g) or an 8-A12(b) in order to become “subject to” the reporting requirements of the Securities Exchange Act of 1934 (“Exchange Act”).
Filing the SEC Form 8-A makes the company a “mandatory SEC filer” rather than a “voluntary filer” and allows shareholders to clear restricted stock under a Rule 144 holding period of six months rather than one year.
In order to qualify for the six month holding period under Rule 144, the public company must have been subject to the SEC reporting requirements for 90 days. The question arises as to when the 90 Day Reporting Period begins.
The Effective Date of the S-1 Starts the 90 Day Reporting Period
When a company goes public via S-1 Registration Statement, and then files a registration statement pursuant to Exchange Act Section 12(g), the 90-day reporting period required by Rule 144(c)(1) begins on the Effective date of the S-1.
Contact Securities Attorney Matt Stout to Discuss Going Public via S-1
Microcap companies seeking to go public on the OTC Bulletin Board and OTC Markets OTCQB via S-1 Registration Statement or to become subject to the Exchange Act can contact S-1 Lawyer Matt Stout at no cost to discuss the process at email@example.com or (410) 429-7076.