Jun. 12 at 2:39 PM
$PONGF Wade filed under 506(b)...
Rule 506(b) of Regulation D is a federal exemption that allows companies like Atari Interactive, Inc. to raise capital without registering their securities with the SEC, provided they follow specific guidelines.
So what you may ask?
- Unlimited capital can be raised.
- Securities can be sold to an unlimited number of accredited investors and up to 35 non-accredited but “sophisticated” investors.
-No general solicitation or advertising is allowed—meaning the offering must be private.
- If non-accredited investors are involved, the issuer must provide detailed disclosure documents, similar to those in registered offerings.
- Issuers must file a Form D with the SEC within 15 days of the first sale.