Regulation S
A Regulation S offering is an offering made outside the U.S. to non-U.S. persons. Oftentimes, Reg S offerings are seen as a non-U.S. tranche of a Rule 144A offering. Regulation S sets forth the rules governing offers and sales made outside the U.S. which are not registered under the U.S. securities laws. Securities acquired under Reg S can only be resold in the U.S. if they are registered under the Securities Act, or are exempt from this Act.