Client Alert
SEC Adopts Revisions To Form S-3 Eligibility Requirements
January 2, 2008
The SEC recently adopted amendments that expand the eligibility requirements of Form S-3, the "short form" used by certain issuers to register offerings under the Securities Act of 1933. Under the new rules, which become effective January 28, 2008, eligible issuers are now permitted to conduct primary securities offerings without regard to the size of their public float as long as they do not sell more than one-third of their public float over any 12-month period. The eligibility changes are intended to allow more companies to benefit from the greater flexibility and efficiency of Form S-3 without compromising investor protection.
Click here to read our client alert summarizing the Form S-3 amendments.
If you have any questions regarding this client alert, please contact the Womble Carlyle attorney with whom you usually work or one of our Corporate and Securities attorneys.
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IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice within this client alert is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in a client alert.
