441-035-0170 - Prohibited Offerings

441-035-0170. Prohibited Offerings

The OIO exemption is unavailable for the following types of offerings:

(1) Offerings involving development stage companies without a specific business plan or purpose, or in which the issuer has indicated that its business is to engage in a merger or acquisition with an unidentified company or companies, or other unidentified entities or persons, or without an allocation of proceeds for sufficiently identifiable properties or objectives (e.g., "blank check" offerings);

(2) Offerings that involve the sale of securities other than notes, stocks, or debentures;

(3) Offerings involving petroleum exploration or production, mining, or any other extractive industries; or

(4) Offerings involving an investment company as defined and classified under Section 3 of the Investment Company Act of 1940.

(FCS 1-2015, f. & cert. ef. 1-15-15; FSR 12-2017, amend filed 12/28/2017, effective 1/1/2018)

Statutory/Other Authority: ORS 59.035 & 17 CFR ยง 230.147A

Statutes/Other Implemented: ORS 59.035

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