Letter Security
A security that is not registered with the SEC, and so cannot be sold publicly in the marketplace.
The name comes from the SEC requirement for an "investment letter" from the purchaser, stating that the purchase is for investment purposes and is not intended for resale.
Also known as letter stock or letter bond.
The name comes from the SEC requirement for an "investment letter" from the purchaser, stating that the purchase is for investment purposes and is not intended for resale.
Also known as letter stock or letter bond.
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