Section 26-B222. USE OF PROCEEDS TO ISSUER

 

222.1The issuer shall state the principal purposes for which the net proceeds to the issuer from the offering are intended to be used, and the approximate amount intended to be used for each purpose.

 

222.2The issuer shall provide details of proposed expenditures are not to be given; for example, there need be furnished only a brief outline of any program of construction or addition of equipment.

 

222.3The issuer shall include a statement as to the use of the actual proceeds if they are not sufficient to accomplish the purposes set forth and the order of priority in which they will be applied.

 

222.4If any material amounts of other funds are to be used in conjunction with the proceeds, the issuer shall state the amounts and sources of the other funds.

 

222.5If any material amount of the proceeds is to be used to acquire assets, otherwise than in the ordinary course of business, the issuer shall briefly describe the assets and give the names of the persons from whom they are to be acquired. The issuer shall state the purchase price of the assets, the names of any persons who have received or are to receive commissions in connection with the acquisition, the amounts of the commissions and any other expense in connection with the acquisition.

 

source

Amended by Emergency Rulemaking published at 47 DCR 9910 (December 15, 2000) [EXPIRED]; as amended by Emergency Rulemaking published at 48 DCR 1987 (March 2, 2001) [EXPIRED]; as amended by Emergency and Proposed Rulemaking published at 48 DCR 3952 (May 4, 2001) [EXPIRED]; as amended by Emergency and Proposed Rulemaking published at 48 DCR 9177 (October 5, 2001) [EXPIRED]; as amended by Final Rulemaking published at 48 DCR 10879 (November 30, 2001).