3 ms·
they passed 500 stockholders, so they must go public, per rule of SEC
by furtivefelon 15y ago
they passed 500 stockholders, so they must go public, per rule of SEC
- frisco 15y agoThe 500 stockholders rule says nothing about going public. It says that they must adhere to the same onerous reporting requirements as public companies. Therefore, many companies choose to go public at that point and get some of the benefits along with the complexity. (Also, it's worth noting that Facebook was exempted from that rule in 2008, anyway. See http://www.sec.gov/Archives/edgar/vprr/08/9999999997-08-043090 http://www.sec.gov/Archives/edgar/vprr/08/9999999997-08-0430...)
- socialist_coder 15y agoWow, I learn something new every day. Thanks.