The SEC imposes restrictions on communications when a securities offering is contemplated or in process. Violations of these restrictions are typically referred to as “gun jumping.” Gun jumping restrictions apply to all forms of communications, from press releases to interviews to communications on social media platforms, such as Facebook postings and Twitter “tweets." While issuers should not be precluded from doing business in the ordinary course, care should be taken to avoid actions that might be construed as publicity designed to stimulate interest in an offering of securities. This alert discusses the types of communications that are permissible during the offering process and indicates certain types of communications that have the potential for inadvertent gun-jumping violations.

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