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Committee lowers threshold for "well-known seasoned issuer" eligibility to allow more mid-size public companies faster market access
Summary
By voice and then recorded vote, the committee adopted the Expanding WKSI Eligibility Act to reduce the public float threshold from $700 million to $400 million, sponsors said it will let about 400 more issuers use automatic shelf registration while preserving governance and investor protections.
The committee adopted an amendment in the nature of a substitute to H.R. 44 30, the Expanding WKSI Eligibility Act, which would lower the public float threshold for well-known seasoned issuer (WKSI) status from $700 million to $400 million.
Sponsor Rep. Steil and supporters including Rep. Timmons and Rep. Williams argued the WKSI framework has helped…
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