To lower the aggregate market value of voting and non-voting common equity necessary for an issuer to qualify as a well-known seasoned issuer.

Bill: 118-hr-2625
Sponsor: full_name: Rep. Steil, Bryan [R-WI-1]
Introduced: 2023-04-13
Policy area: Finance and Financial Sector
Latest action: action_date: 2023-04-13
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2023-04-13
action_desc: Introduced in House
text: <p>This bill reduces the required aggregate market value of voting and non-voting common equity shares for an issuer of securities to qualify as a well-known seasoned issuer. A well-known seasoned issuer is allowed to make expedited public offerings of securities through automatic shelf registrations. </p>

tv_txt: I 118th CONGRESS 1st Session H. R. 2625 IN THE HOUSE OF REPRESENTATIVES April 13, 2023 Mr. Steil introduced the following bill; which was referred to the Committee on Financial Services A BILL To lower the aggregate market value of voting and non-voting common equity necessary for an issuer to qualify as a well-known seasoned issuer.

1. Definition of well-known seasoned issuer For purposes of the Federal securities laws, and regulations issued thereunder, an issuer shall be a well-known seasoned issuer if— (1) the aggregate market value of the voting and non-voting common equity held by non-affiliates of the issuer is $75,000,000 or more (as determined under Form S–3 general instruction I.B.1. as in effect on the date of enactment of this Act); and (2) the issuer otherwise satisfies the requirements of the definition of well-known seasoned issuer contained in section 230.405 of title 17, Code of Federal Regulations (as in effect on the date of enactment of this Act) without reference to any requirement in such definition relating to minimum worldwide market value of outstanding voting and non-voting common equity held by non-affiliates.