Securities Exchange Act of 1934
June 25, 2007
Response of the Office of Chief Counsel
Division of Corporation Finance
InterDigital Communications Corporation
Incoming letter dated June 22, 2007
Based on the facts presented, including the legal opinion that is part of your letter, the Division's views are as follows. Capitalized terms have the same meanings defined in your letter.
- The reporting history of the Company under the Exchange Act may be taken into account to determine whether HoldingCo is eligible to use Form S-3 under the Securities Act, and to determine whether HoldingCo may furnish information in a Form S-4 under the Securities Act in the manner permitted for a company that is eligible to use Form S-3, as contemplated by General Instruction B.1.a. of Form S-4;
- Without necessarily agreeing with your analysis, the Division will not object if HoldingCo, as successor to the Company, does not file new registration statements under the Securities Act for ongoing offerings of securities covered by the Company's currently effective registration statements on Form S-3 and currently effective registration statements on Form S-8 relating to the Stock Plans. Instead, HoldingCo may adopt the Company's registration statements pursuant to Rule 414 under the Securities Act by filing post-effective amendments to those registration statements;
- The Company's Exchange Act reporting history may be taken into account when determining HoldingCo's compliance with the current public information requirements of Rule 144(c)(1) under the Securities Act;
- Persons who receive HoldingCo Common Stock in exchange for Company Common Stock may take into account the periods during which they held the Company Common Stock for the purpose of calculating their holding periods for HoldingCo Common Stock pursuant to Rule 144(d) under the Securities Act;
- Average weekly reported trading volume in the Company's Common Stock during the time periods specified by Rule 144(e)(1) may be taken into account in determining the limitations on the amount of securities that may be sold pursuant to Rule 144(e);
- Persons who have filed statements on Schedule 13D or 13G under the Exchange Act reporting beneficial ownership of Company Common Stock will not be required to file additional or amended statements on Schedule 13D or 13G as a result of the Reorganization, provided that they note in their next subsequent filings of Schedule 13D or 13G that HoldingCo is the successor to the Company; and
- The Reorganization will be a succession for purposes of Rule 12g-3(a) under the Exchange Act and HoldingCo will be a large accelerated filer for purposes of Rule 12b-2 under the Exchange Act.
These positions are based on the representations made to the Division in your letter. Different facts or conditions might require different conclusions.
Your request for confidential treatment pursuant to 17 C.F.R. 200.81 has been granted for the earlier of (i) 120 days from the date of this letter; or (ii) such earlier date as the Reorganization described in your letter has been publicly disclosed.
The Incoming Letter is in Acrobat format.