It would let a company use Form S-3 to register their securities if the total market value of the applicant’s stock that's not held by the company is $75 million or more, or if they have at least one class of common stock listed on a national securities exchange (like the New York Stock Exchange or the Nasdaq).
What is House Bill H.R. 2357?
Cost of House Bill H.R. 2357
In-Depth: This bill was passed by the House Financial Services Committee through a 33 to 24 vote.
Form S-3 is sometimes used prior to an initial public offering (IPO), and companies that apply with it are required to have met all dividend and debt requirements for at least one year prior to applying.
- House Financial Services Committee Press Release
- Investopedia (Context)
- Securities and Exchange Commission (Context)
Accelerating Access to Capital Act of 2016
To direct the Securities and Exchange Commission to revise Form S-3 so as to add listing and registration of a class of common equity securities on a national securities exchange as an additional basis for satisfying the requirements of General Instruction I.B.1. of such form and to remove such listing and registration as a requirement of General Instruction I.B.6. of such form.
- Not enactedThe President has not signed this bill
- The senate has not voted
Committee on Banking, Housing, and Urban Affairs
- senate Committees
- The house Passed September 8th, 2016Roll Call Vote 236 Yea / 178 Nay
Committee on Financial ServicesInvestor Protection, Entrepreneurship, and Capital MarketsIntroducedMay 15th, 2015
- house Committees