Morris, Manning & Martin lawyers have helped a Chinese auto parts company file a shelf registration statement with the Securities and Exchange Commission, preparing the way for offerings of up to $80 million in securities.
Morris Manning partner Jeffrey L. Schulte represented SORL Auto Parts Inc., the largest commercial vehicle air brake system manufacturer in China. SORL is based in Ruian City in Zhejiang Province and is also registered as a Delaware corporation. He prepared the registration statement and coordinated with the company, its auditors and printers to prepare the filing. He said he expects the registration to become effective in the relatively near future.
A shelf registration such as SORL's, filed on Form S-3, deems Securities and Exchange Act of 1934 filings incorporated, allowing a company to take down securities incrementally and go quickly to market by filing a prospectus supplement and without going through an SEC review process.