• SEC Approves "Seasoning" Requirements for Reverse Merger Companies
  • December 8, 2011 | Author: Michael T. Campoli
  • Law Firm: Pryor Cashman LLP - New York Office
  • On November 9, 2011, the U.S. Securities and Exchange Commission (the “SEC”) approved new rules of the New York Stock Exchange (“NYSE”), the NYSE Amex (“Amex”) and the NASDAQ Stock Market (“NASDAQ”) that would impose “seasoning” requirements for private operating companies that have become reporting companies under the Securities Exchange Act of 1934, as amended, by combining with a public shell, whether through a reverse merger, exchange offer or otherwise (such a transaction, a “Reverse Merger”).