144 Stock Liquidations FAQ

1. Who is SMH Capital?

SMH Capital is a publicly traded company on the NASDAQ (SMHG) and is the largest investment banking firm headquartered in the Southwest, with twenty nine (29) offices throughout the United States and the financial strength that assures stability. (Read more)

2. What can Sanders Morris Harris do for me?

If you currently own 144 restricted stock, we can assist you by acquiring an opinion letter from an attorney and supplying all of the necessary paperwork required to have the legend removed from your certificate providing that certain rules and regulations have been met. Once the legend has been removed, we can also assist you in liquidating your now free trading shares.

3. What are the new holding periods?

Rule 144(d) requires restricted securities to be held for a period of time before they can be resold. Under the amendments, if the issuer of the securities has been subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act for at least 90 days, then the restricted securities of such an issuer are subject to a six-month holding period. Restricted securities of issuers that are not subject to the Exchange Act reporting requirements, however, must be held for one year before any public resale.

4. Who is a non-affiliate?

Restricted securities must be fully paid for and beneficially owned for a period of at least one year prior to sale. After one year, non-affiliates need not comply with any other Rule 144 requirement and may complete and submit the appropriate Rule 144(d) paperwork, which we can provide.

5. Who is an affiliate?

Restricted securities may be resold after one year in accordance with the following Rule 144 requirements: 1) Current public information is available, 2) Volume limitations are adhered to, 3) the Manner of Sale requirements for equity securities are followed, and 4) a Form 144 is filed with the SEC. These conditions must continue to be followed by affiliates despite the age of the shares.

6. What is the privacy policy?

At SMH Capital Inc., we recognize the importance of protecting your privacy. We strive to maintain the privacy of such information while we help you achieve your financial objectives. The following disclosure explains what nonpublic personal information we collect about you, why we collect it, what we do with that information, and the steps we have put in place to protect the nonpublic personal information you have entrusted to us. (Read more)