please state the rule, law, statute, legal theory, or precedent that you used in arriving at your answer. You do not have to answer in complete sentences, but yes or no answers (without further elaboration) will receive no credit.

Michael operates a chain of frozen banana restaurants. He would like to expand his business, so he is offering to sell $4 million in ownership interests in his company between January 1, 2021-November 30, 2021. What legal requirements must he follow in order to do so?