4.5.8.2. Private Resales to Qualified Institutional Buyers—Rule 144A
As discussed, purchasers of restricted securities are subject to holding periods. Rule 144A, however, allows issuers and non-issuers to sell restricted securities to qualified institutional buyers (QIBs) without restrictions. Once a qualified institutional buyer purchases a restricted security, it can sell it to other QIBs without restrictions. So what ar