Series 82: 1.2.1.2.1. Tombstone Ads

1.2.1.2.1. Tombstone Ads

The SEC does allow communications/advertisements about the new offering that include only general information about the offering. Often this information is presented in what is called a tombstone ad. This kind of ad is placed in a newspaper or financial magazine and contains a black border that resembles a tombstone. A tombstone ad tells the public general information about the offering.

To ensure that they will not be construed as an offer, tombstone ads and other general advertisements must contain a statement similar to the following:

This announcement is under no circumstances to be construed as an offer to sell or as a solicitation of an offer to buy any