Florida Administrative Code
69 - DEPARTMENT OF FINANCIAL SERVICES
69W - Securities
Chapter 69W-700 - REGISTRATION OF SECURITIES
Section 69W-700.005 - Promoters Equity Investment Ratio

Universal Citation: FL Admin Code R 69W-700.005

Current through Reg. 50, No. 187; September 24, 2024

In offerings where the issuer is a development-stage company, the ratio of equity investment by promoters or insiders to the aggregate public offering shall be no less than:

(1) Seven percent (7%) of the first $1,000,000 of the aggregate public offering; and,

(2) $70,000 plus two and one-half percent (2.5%) of the next $4 million of the aggregate public offering; and,

(3) Fi$170,000 for offerings greater than $5 million.

Rulemaking Authority 517.03(1) FS. Law Implemented 517.081(3), (9) FS.

(Formerly 3E-20.03) New 9-20-82, Formerly 3E-700.05, Amended 10-26-97, Formerly 3E-700.005, Amended 5-15-07, 9-22-14.

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