When is the price of an offered security “determined” for purposes of applying the Regulation M restricted period? Is the price determined when the underwriter and issuer orally agree on the price or when the underwriters formally contract to underwrite the offering, which may occur later?
Related Questions
- If an issuer purchases its securities before the Regulation M restricted period begins for the security in distribution, may the settlement of this trade occur during the restricted period without violating Regulation M?
- Does an underwriter stabilizing the price of a security have to comply with Rule 104 even though the securities qualify for the actively-traded securities exception under Rule 101?
- Is a rebate, offered for the purchase of a vehicle, included in the price paid for the vehicle for purposes of calculating the motor vehicle excise tax on the sales price?
