CORPORATE / SECURITIES - Intrastate Offerings - Section 3(a)(11) of the Securities Act is generally known as the “intrastate offering exemption.” This exemption seeks to facilitate the financing of local business operations. To qualify for the intrastate offering exemption, a company must: (1) be organized in the state where it is offering the securities, (2) carry out a significant amount of its business in that state, and (2) make offers and sales only to residents of that state.
The intrastate offering exemption does not limit the size of the offering or the number of purchasers. A company must determine the residence of each offeree and purchaser. If any of the securities are offered or sold to even one out-of-state person, the exemption may be lost. Without the exemption, the company would be in violation of the Securities Act if the offering does not qualify for another exemption.
NY - Private Offering Exemptions and Exclusions Under the New York State Martin Act and Section 18 of the Securities Act of 1933.
CA - A California intrastate securities offering is an exemption that allows a company to sell securities to California residents only. The exemption is intended to help local businesses raise funds (Form - 25102N).
Does not include any State Registration Fees or any filings with the SEC or FINRA.
CORPORATE / SECURITIES - Intrastate Offering (CA & NY Only)
CORPORATE / SECURITIES - Intrastate Offerings - Section 3(a)(11) of the Securities Act is generally known as the “intrastate offering exemption.” This exemption seeks to facilitate the financing of local business operations. To qualify for the intrastate offering exemption, a company must: (1) be organized in the state where it is offering the securities, (2) carry out a significant amount of its business in that state, and (2) make offers and sales only to residents of that state.
The intrastate offering exemption does not limit the size of the offering or the number of purchasers. A company must determine the residence of each offeree and purchaser. If any of the securities are offered or sold to even one out-of-state person, the exemption may be lost. Without the exemption, the company would be in violation of the Securities Act if the offering does not qualify for another exemption.
NY - Private Offering Exemptions and Exclusions Under the New York State Martin Act and Section 18 of the Securities Act of 1933.
CA - A California intrastate securities offering is an exemption that allows a company to sell securities to California residents only. The exemption is intended to help local businesses raise funds (Form - 25102N).
Does not include any State Registration Fees or any filings with the SEC or FINRA.