US securities laws: Introduction to US registered and unregistered offerings for non-US companies

Resource type: Practice note

Status: Maintained

Jurisdiction: USA

This note compares registered and unregistered offerings of securities in the US (and outside the US under Regulation S). It gives a general overview of these offerings for non-US companies. It discusses the main advantages and disadvantages of registered and unregistered offerings, key issues to be aware of when conducting a registered offering, and the basic requirements of the three main unregistered offering exemptions and safe harbours (Rule 144A, Section 4(a)(2) (formerly Section 4(2)) and Regulation D, and Regulation S). It also discusses the special accommodations available to non-US companies that qualify as "emerging growth companies" under the US Jumpstart Our Business Startups Act of 2012 (JOBS Act).

PLC Corporate

Register for free access

To access this resource and thousands more, register for a free, no-obligation trial of Practical Law. Register using the button below, telephone +44 (0)20 7202 1220 or e-mail info@practicallaw.com.

A free trial will give you:

✔	Unlimited access to Practical Law online know-how
✔	Thousands of market standard documents and clauses
✔	Daily alerts and weekly update e-mails on key legal developments in your practice area
	Register

Log in

To access this resource, log in below or register for free access.

Contact us

Our customer services team are available every working day 8.30am to 7pm (GMT).

Actions

Resource information

Show resource details Hide resource details

Resource ID: 4-506-5032
Products: PLC UK Corporate, PLC UK Finance
This resource is maintained, meaning that we monitor developments on a regular basis and update it as soon as possible.

Ask a question

Related content

Related content

Topics

AIMAIM (http://corporate.practicallaw.com/1-103-1364)
Cross-border: Equity Capital MarketsCross-border: Equity Capital Markets (http://corporate.practicallaw.com/5-103-1376)
Debt Capital MarketsDebt Capital Markets (http://corporate.practicallaw.com/9-103-1100)
Initial Public OfferingsInitial Public Offerings (http://corporate.practicallaw.com/3-103-1377)
Rights Issues and Other Secondary IssuesRights Issues and Other Secondary Issues (http://corporate.practicallaw.com/0-103-2095)
Structured FinanceStructured Finance (http://corporate.practicallaw.com/8-103-1105)

Practice note: overview

Periodic Reporting and Other Disclosure Obligations of Foreign Private Issuers: Overview Periodic Reporting and Other Disclosure Obligations of Foreign Private Issuers: Overview (http://uk.practicallaw.com/topic0-508-5490)
Registration Process: Overview Registration Process: Overview (http://uk.practicallaw.com/topic7-380-8736)
Road Map to the Jumpstart Our Business Startups (JOBS) Act of 2012 Road Map to the Jumpstart Our Business Startups (JOBS) Act of 2012 (http://uk.practicallaw.com/topic6-518-6858)
US Securities Laws: Overview US Securities Laws: Overview (http://uk.practicallaw.com/topic3-383-6798)

Practice notes

Due diligence and verification for an initial public offering (IPO) Due diligence and verification for an initial public offering (IPO) (http://uk.practicallaw.com/topic8-107-3992)
JOBS Act: Exchange Act Registration Thresholds Summary JOBS Act: Exchange Act Registration Thresholds Summary (http://uk.practicallaw.com/topic8-518-7084)
JOBS Act: On-ramp to the Capital Markets for Emerging Growth Companies Summary JOBS Act: On-ramp to the Capital Markets for Emerging Growth Companies Summary (http://uk.practicallaw.com/topic1-518-7351)
JOBS Act: Regulation D and Rule 144A General Solicitation Summary JOBS Act: Regulation D and Rule 144A General Solicitation Summary (http://uk.practicallaw.com/topic1-518-7172)
Marketing an initial public offering (IPO) Marketing an initial public offering (IPO) (http://uk.practicallaw.com/topic9-107-3996)
Registration Statement: Form F-1 Registration Statement: Form F-1 (http://uk.practicallaw.com/topic4-385-6371)
Registration Statement: Form F-3 Registration Statement: Form F-3 (http://uk.practicallaw.com/topic6-385-8091)
Regulation S Transactions Regulation S Transactions (http://uk.practicallaw.com/topic5-383-1182)
Resales Under Rule 144A and Section "4(1½)" Resales Under Rule 144A and Section "4(1½)" (http://uk.practicallaw.com/topic6-382-8768)
Section 4(a)(2) and Regulation D Private Placements Section 4(a)(2) and Regulation D Private Placements (http://uk.practicallaw.com/topic8-382-6259)
Selling debt securities: Rule 144A Selling debt securities: Rule 144A (http://uk.practicallaw.com/topic1-385-6037)
Which Non-US Companies Qualify as Foreign Private Issuers? Which Non-US Companies Qualify as Foreign Private Issuers? (http://uk.practicallaw.com/topic1-386-1265)

Checklist

Selecting the Correct SEC Registration Form for Non-US Issuers: Chart Selecting the Correct SEC Registration Form for Non-US Issuers: Chart (http://uk.practicallaw.com/topic2-502-1384)

Article

The other global warming: the impact of the JOBS Act on foreign issuers The other global warming: the impact of the JOBS Act on foreign issuers (http://uk.practicallaw.com/topic7-519-1213)

{ "siteName" : "PLC", "objType" : "PLC_Doc_C", "objID" : "1247489226200", "objName" : "US securities laws Introduction to US registered and unregistere", "userID" : "2", "objUrl" : "http://uk.practicallaw.com/cs/Satellite/4-506-5032?q=&qp=&qo=&qe=", "pageType" : "", "contentAccessed" : "false", "analyticsPermCookie" : "2-2d608713:13eb7172c03:2fc0", "analyticsSessionCookie" : "2-2d608713:13eb7172c03:2fc1", "statisticSensorPath" : "http://analytics.practicallaw.com/sensor/statistic" }