§ 230.259Withdrawal or abandonment of offering statements.
(a) If none of the securities which are the subject of an offering statement have been sold and such offering statement is not the subject of a proceeding
under § 230.258, the offering statement may be withdrawn with the Commission's consent. The application for withdrawal
shall state the reason the offering statement is to be withdrawn, shall be signed by
an authorized representative of the issuer and shall be provided to the main office of the
Commission in Washington, DC.
(b) When an offering statement has been on file with the Commission for nine months without amendment and has not
become qualified, the Commission may, in its discretion, proceed in the
following manner to determine whether such offering statement has been abandoned by the issuer. If the offering statement has been amended, the 9-month period
shall be computed from the date of the latest amendment.
(1) Notice will be sent to the issuer, and to any counsel for the issuer named in the offering statement, by registered or certified mail, return receipt requested, addressed to
the most recent addresses for the issuer and issuer's counsel as reflected in the offering statement. Such notice will inform
the issuer and issuer's counsel that the offering statement or amendments thereto is
out of date and must be either amended to comply with applicable
requirements of Regulation A or be withdrawn within 30 calendar days after
(2) If the issuer or issuer's counsel fail to respond to such
notice by filing a substantive amendment or withdrawing the offering statement or does not furnish a
satisfactory explanation as to why the issuer has not done so within 30 calendar
days, the Commission may declare the offering statement abandoned.
[57 FR 36468, Aug. 13, 1992, as amended at 61 FR 67202, Dec. 20, 1996]
Title 17 published on 2015-04-01.
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