A detailed document filed with the Securities and Exchange Commission (SEC), required for businesses that wish to issue shares to the public totally over $500,000. It contains detailed information on the business' history, financial state, current business plans, the names of its directors and officers as well as any pending litigation it is involved in.
Definition from Nolo’s Plain-English Law Dictionary
A detailed report to be filed with the Securities and Exchange Commission (SEC) by a corporation making an issuance of shares to be advertised and sold to the general public in more than one state, which must be approved by the SEC before it will approve the stock issuance.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:23 pm