Can I sell my shares?
Once the live offering has closed, you may choose how to handle your shares. Investors will be introduced to the company’s selected transfer agent, or cap table management service, who will be responsible for the transfer of your shares after the close of the offering.
There is not currently an established secondary market for shares, however, the shares sold under Large Online Public Offerings (Title IV) are unrestricted and may freely be sold after purchase.
The shares sold under Small Online Public Offerings (Title III) have a one year period before becoming unrestricted and are able to be freely sold. You are generally restricted from reselling your shares for a one year period after they were issued, unless the shares are transferred:
- to the company that issued the securities;
- to an accredited investor;
- to a family member (defined as a child, stepchild, grandchild, parent, stepparent, grandparent, spouse or spousal equivalent, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships.);
- in connection with your death or divorce or other similar circumstance;
- to a trust controlled by you or a trust created for the benefit of a family member; as part of an offering registered with the SEC.