§ 801.32. Conversion and acquisition.
128 words·~1 min read·
/us/cfr/t16/s§ 801.32·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A conversion is an acquisition within the meaning of the act. Example:Assume that acquiring person "A" wishes to convert convertible voting securities of issuer X, and is to receive common stock of X valued in excess of \$50 million (as adjusted). If "A" and "X" satisfy the criteria of Section 7A(a)(1) and Section 7A(a)(2)(B)(ii), then "A" and "X" must file notification and observe the waiting period before "A" completes the acquisition of the X common stock, unless exempted by Section 7A(c) or the regulations in this part.
Since § 801.30 applies, the waiting period begins upon notification by "A," and "X" must file notification within 15 days. \[43 FR 33537, July 31, 1978, as amended at 66 FR 8690, Feb. 1, 2001; 70 FR 4992, Jan. 31, 2005\]