Securities Exchange Act of 1934
December 7, 2012
Response of the Office of Chief Counsel
Division of Corporation Finance
Tower Group, Inc.
Incoming letter dated November 20, 2012
Based on the facts presented, the Division’s views are as follows. Capitalized terms have the same meanings as defined in your letter.
- The Transaction will constitute a “succession” for purposes of Rule 12g-3(a) under the Exchange Act and New Tower will be a “large accelerated filer” for purposes of Rule 12b-2 under the Exchange Act.
- New Tower may take into account the Company’s reporting history under the Exchange Act in determining its eligibility to use Form S-3. The Company’s reporting history under the Exchange Act may also be used in determining whether the New Tower “meets the requirements for use of Form S-3” within the meaning of Form S-4.
- The Company’s Exchange Act reporting history may be taken into account when determining New Tower’s compliance with the current public information requirements of Rule 144(c)(1) under the Securities Act.
- Average weekly reported trading volume in Company Common Stock during the time periods specified by Rule 144(e)(1) under the Securities Act may be taken into account in determining the limitations on the amount of New Tower Common Shares that may be sold pursuant to Rule 144(e).
- The Division will not object if New Tower, 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-8, provided that New Tower adopts the Company’s registration statements by filing post-effective amendments pursuant to Rule 414 under the Securities Act.
These positions are based on the representations made to the Division in your letter. Different facts or conditions might require different conclusions.
Michael J. Reedich
The Incoming Letter is in Acrobat format.