No-Action Letter

A No-Action Letter is a letter from the SEC that states the startup’s anticipated action most likely will not result in enforcement action by the SEC. A startup who does not know if its service or product will break federal securities laws should request a No-Action Letter.

More Information: Don’t Have Enough Authorized Shares? There’s a Fix for That.
Also Check Out: Prospectus, Public Offering, Quiet Period, Securities and Exchange Commission (SEC),
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