| 1 | 1 | | I |
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| 2 | 2 | | 118THCONGRESS |
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| 3 | 3 | | 1 |
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| 4 | 4 | | STSESSION H. R. 2625 |
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| 5 | 5 | | To lower the aggregate market value of voting and non-voting common equity |
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| 6 | 6 | | necessary for an issuer to qualify as a well-known seasoned issuer. |
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| 7 | 7 | | IN THE HOUSE OF REPRESENTATIVES |
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| 8 | 8 | | APRIL13, 2023 |
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| 9 | 9 | | Mr. S |
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| 10 | 10 | | TEILintroduced the following bill; which was referred to the Committee |
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| 11 | 11 | | on Financial Services |
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| 12 | 12 | | A BILL |
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| 13 | 13 | | To lower the aggregate market value of voting and non- |
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| 14 | 14 | | voting common equity necessary for an issuer to qualify |
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| 15 | 15 | | as a well-known seasoned issuer. |
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| 16 | 16 | | Be it enacted by the Senate and House of Representa-1 |
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| 17 | 17 | | tives of the United States of America in Congress assembled, 2 |
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| 18 | 18 | | SECTION 1. DEFINITION OF WELL-KNOWN SEASONED 3 |
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| 19 | 19 | | ISSUER. 4 |
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| 20 | 20 | | For purposes of the Federal securities laws, and reg-5 |
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| 21 | 21 | | ulations issued thereunder, an issuer shall be a ‘‘well- 6 |
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| 22 | 22 | | known seasoned issuer’’ if— 7 |
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| 23 | 23 | | (1) the aggregate market value of the voting 8 |
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| 24 | 24 | | and non-voting common equity held by non-affiliates 9 |
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| 25 | 25 | | of the issuer is $75,000,000 or more (as determined 10 |
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| 26 | 26 | | VerDate Sep 11 2014 21:08 Apr 17, 2023 Jkt 039200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H2625.IH H2625 |
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| 27 | 27 | | pbinns on DSKJLVW7X2PROD with $$_JOB 2 |
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| 28 | 28 | | •HR 2625 IH |
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| 29 | 29 | | under Form S–3 general instruction I.B.1. as in ef-1 |
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| 30 | 30 | | fect on the date of enactment of this Act); and 2 |
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| 31 | 31 | | (2) the issuer otherwise satisfies the require-3 |
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| 32 | 32 | | ments of the definition of ‘‘well-known seasoned 4 |
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| 33 | 33 | | issuer’’ contained in section 230.405 of title 17, 5 |
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| 34 | 34 | | Code of Federal Regulations (as in effect on the 6 |
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| 35 | 35 | | date of enactment of this Act) without reference to 7 |
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| 36 | 36 | | any requirement in such definition relating to min-8 |
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| 37 | 37 | | imum worldwide market value of outstanding voting 9 |
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| 38 | 38 | | and non-voting common equity held by non-affiliates. 10 |
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| 39 | 39 | | Æ |
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| 40 | 40 | | VerDate Sep 11 2014 21:08 Apr 17, 2023 Jkt 039200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H2625.IH H2625 |
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| 41 | 41 | | pbinns on DSKJLVW7X2PROD with $$_JOB |
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