SEC Grants Exemption from Rule 102(a) of Regulation M to TriLinc Global Impact Fund, LLC
The SEC granted an exemption from Rule 102(a) of Regulation M under the Securities Exchange Act of 1934 to TriLinc Global Impact Fund, LLC (the "Company"), permitting the Company to initiate a unit repurchase program with investors. The Company limited the number of units it could repurchase in a calendar year and disclosed the details of the repurchase program in its prospectus. However, the SEC granted the exemption subject to the following conditions:
- the Company must terminate the repurchase program if, during the distribution of its units, a secondary market for the units develops, and
- the Company repurchases the units at a price that does not exceed the then current public offering price of the units.
See: SEC Order and Incoming Letter.