Reshaping The Future For Reverse Mergers

Law360, New York (November 18, 2011, 3:23 PM EST) -- On Nov. 8, 2011, the U.S. Securities and Exchange Commission approved requests by the Nasdaq Stock Market, New York Stock Exchange and NYSE Amex to adopt additional initial listing requirements that would make it harder for companies that go public through a reverse merger or similar transaction (“reverse merger companies”) to become exchange-listed, or to “uplist.” Specifically, the new requirements would prohibit a reverse merger company from listing its shares on all three major U.S. stock exchanges until:

The company (i) has completed a one-year pre-listing...
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