United States:
All About The Integration - SEC Says Kik Illegally Offered Securities
17 April 2020
Polsinelli LLP
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All fans of the Simple Agreement for Future Tokens (SAFT) should
read the SEC's brief in support of motion for summary judgment
in the Kik case. The SEC argues that even if Kik conducted two
separate offerings of Kin, Kik still does not qualify for the Rule
506(c) exemption from registration of the securities because it
cannot demonstrate that its "two" offerings should not be
integrated and considered a single offering.
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