The Rubicon Project, Inc. applied to the Ontario Securities Commission for an exemption from the prospectus requirement for the first trade of its common shares issued to former shareholders of Chango Inc. in connection with a plan of arrangement.
The Commission granted the requested relief, provided that the first trade is executed through the facilities of the NYSE or another exchange outside of Canada, and that Canadian residents do not own more than 10 percent of the outstanding shares after the distribution.
