Deficiency Letter - Launchopedia

A letter sent by the SEC to the issuer of a new issue regarding omissions of material fact in the registration statement.³

Debt Instrument

Demand Registration

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Definitioner

SEC

The United States Securities and Exchange Commission charged with regulating all sales of corporate securities.⁷

Registration

The SEC’s review process of all securities intended to be sold to the public. The SEC requires that a registration statement be filed in conjunction with any public securities offering. This document includes operational and financial information about the company, the management, and the purpose of the offering. The registration statement and the prospectus are often referred to interchangeably. Technically, the SEC does not “approve” the disclosures in prospectuses.³

New Issue

A stock or bond offered to the public for the first time. New issues may be initial public offerings by previously private companies or additional stock or bond issues by companies already public. New public offerings are registered with the Securities and Exchange Commission. (See Securities and Exchange Commission and Registration.)³

Issuer

A company raising funds through a "Portal" or "Broker-Dealer" via securities-based crowdfunding, and issuing a security (equity or debt) to each investor in return for his or her funds.¹
Refers to the organization issuing or proposing to issue a security.³

INFOGRAPHICS

INFOGRAPHICS

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