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Tuesday, February 06, 2024 11:54:52 PM
Not true. Forms 10 become effective automatically after 60 days. The SEC will comment. If it sees serious problems, it will encourage the company to withdraw the Form 10 and try again when it's fixed the issues in question.
Question: Can a company that files a Section 12(g) registration statement on Form 10, Form 20-F, or Form 8-A delay the effectiveness of the registration statement to a date after the 60-day period specified in Section 12(g)?
Answer: No. A registration statement on Form 10, Form 20-F, or Form 8-A to register a class of equity securities under Section 12(g) becomes automatically effective 60 days after the date of filing. A company cannot seek to delay the automatic effectiveness of such registration statement. The only way to delay or prevent effectiveness is to withdraw the Section 12(g) registration statement before the effective date. Such a withdrawal, however, is not permitted for a company that is required to register a class of equity securities under Section 12(g). [September 30, 2008]
https://www.sec.gov/divisions/corpfin/guidance/exchangeactsections-interps.htm
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