This entry is part 9 of 11 in the series OTCBB Shells – The Reverse Merger Process
OTCBB Shells – The Reverse Merger Process

Closing on the Shell

Upon the closing of the shell the Buyers SEC attorney will have received all of the due diligence on the shell. The attorney will have also received all of the stock certificates with signed stock powers (usually with gold medallion guaranteed signatures) from all of the Sellers.

The escrow agent releases the funds held in escrow to the Sellers and the transaction is closed. The shell is now closed but the transaction is far from over. Your attorney will file what is referred to as a super 8K usually within four days of the closing. The super 8K outlines the reverse merger transaction that just took place along with disclosure about the Buyer’s company inclusive of two year audited financials. A super 8K can be rather lengthy – our last client’s attorney filed a 231 page super 8K on December 31st, 2007.

Series Navigation«OTCBB Shells – The Reverse Merger Process - Part VIIOTCBB Shells – The Reverse Merger Process - Part IX»

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