Series 82: Aggregation Rules

Aggregation Rules

Rule 147. This exemption has no dollar cap.

Regulation A. Proceeds from securities sold in an earlier Reg A offering will count toward the dollar cap of a later Reg A offering, if the sale date was within 12 months of the start date of the second offering. Proceeds from concurrent Reg A offerings will count toward each other’s dollar caps.

SEC Rule 251(a)

Regulation D. Proceeds from securities sold in an earlier Rule 504 offering will count toward the dollar cap of a later Rule 504 offering, if the sale date was within 12 months of the start date of the second offering. Proceeds from concurrent Rule 504 offerings will count toward each other’s dollar caps. Rule 506(b) and Rule 506(c) offerings have no dollar caps.

SEC Ru