### Question
How is the "sale date" defined?


### Answer
The term **sale date** is defined in *45 U.S.C. § 1303* as follows -

> the date on which the initial public offering is closed

#### Citation:
  - *45 U.S.C. § 1303*
  - Heading: **CHAPTER 22-CONRAIL PRIVATIZATION > SUBCHAPTER I-GENERAL PROVISIONS**

