Question: A registration statement is effective on the 2 0 th day after filing unless: A registration statement is effective on the 2 0 th day

A registration statement is effective on the 20th day after filing unless:
A registration statement is effective on the 20th day after filing unless:
a syndicate can be formed sooner.
a letter of comment suggesting changes is issued by the SEC.
the issue exceeds $50 million in which case the wait period is 30 days.
a tombstone ad is issued indicating its demise.
the SEC is backlogged with statements.

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