Fla. Admin. Code R. 69W-700.005

Current through Reg. 50, No. 119; June 18, 2024

Section 69W-700.005 - Promoters Equity Investment Ratio

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

(1) Ten percent (10%) of the first $1,000,000 of the aggregate public offering; and,

(2) Seven percent (7%) of the next $500,000 of the aggregate public offering; and,

(3) Five percent (5%) of the next $500,000 of the aggregate public offering; and,

(4) Two and one-half percent (21/2%) of the balance over $2,000,000.

Fla. Admin. Code Ann. R. 69W-700.005

Rulemaking Authority 517.03(1) FS. Law Implemented 517.081(3), (7) 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, Amended by Florida Register Volume 40, Number 175, September 9, 2014 effective 9/22/2014.

(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.