Bill > HR3135

This bill, known as the RACE Act of 2025 (Regulation Advancement for Capital Enhancement Act of 2025), proposes an amendment to the Securities Act of 1933 that simplifies the process for companies to file additional securities offerings. Specifically, the bill allows companies that have previously filed and qualified an offering statement under Regulation A tier 2 (a specific exemption that allows smaller companies to raise up to $75 million from the public) to automatically qualify subsequent offering statements for new securities classes. To qualify for this streamlined process, the new securities must be substantially similar to the original class, with each additional class having an offering amount under $5 million and a total aggregate offering amount across all new classes not exceeding $5 million within a 12-month period. Importantly, the bill clarifies that "substantially similar" does not require the new securities to have identical nature or terms, providing flexibility for companies seeking to raise capital through different types of securities. This change aims to reduce regulatory burdens and make it easier for smaller companies to access capital markets by simplifying the securities offering process.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/3135/all-info