Series 24: Ineligible Issuer

an issuer that is judged ineligible by the SEC to take advantage of certain streamlined procedures for accessing the capital markets. Ineligible issuers are not considered WKSIs even if they otherwise qualify, cannot use electronic road shows, and are extremely limited in their use of FWPs. Ineligible issuers include companies that failed to file required SEC reports, shell companies, penny stock issuers, and issuers that have SEC violations.