Can a company that receives a financial viability exception issue any securities in the transaction prior to the end of the ten-day notice period?
Listing Rule 5635(f) requires that the notice be sent at least ten days before the issuance of the securities. This means that until the end of the ten-day notice period, a company could not issue any common stock or any other securities that are, or could become, convertible into or exercisable for common stock. For example, convertible debt could not be issued prior to the end of the notice period even if no conversion could take place until after the end of the period.
Listing Rule 5635(f) requires that the notice be sent at least ten days before the issuance of the securities. This means that until the end of the ten-day notice period, a company could not issue any common stock or any other securities that are, or could become, convertible into or exercisable for common stock.
Related Questions
- Can a company that receives a financial viability exception issue any securities in the transaction prior to the end of the ten-day notice period?
- Is the companys audit committee required to approve reliance on a financial viability exception?
- How does a company request a financial viability exception?
