H.R. 2625

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.

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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.