Question

To raise $120 million to expand operations, Premiere Movies Corporation makes a stock offering directly to sixty accredited investors and twenty sophisticated, but unaccredited investors. Premiere Movies plans to notify the SEC of sales. Under the Securities Act of 1933, this issue may qualify as an "exempt" transaction
a. if the offering is also made available to the general public.
b. if all of the investors are also given material information about the firm, including its most recent financial statements.
c. as is.
d. under no circumstances.

Answer 1

Answer:

b.

Explanation:

According to my research on the Securities Act of 1933, I can say that based on the information provided within the question this issue may qualify as an "exempt" transaction if...all of the investors are also given material information about the firm, including its most recent financial statements. This provides the investors with full knowledge.

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