summary
Introduced
10/23/2013
10/23/2013
In Committee
03/14/2014
03/14/2014
Crossed Over
Passed
Dead
01/03/2015
01/03/2015
Introduced Session
113th Congress
Bill Summary
Improving Access to Capital for Emerging Growth Companies Act - Amends the Securities Act of 1933 (Act) to reduce from 21 to 15 the number of days before a "road show" that an emerging growth company (EGC), before its initial public offering (IPO) date, may publicly file a draft registration statement for confidential nonpublic review by Securities and Exchange Commission (SEC) staff. (A financial "road show" is an offer [other than a statutory prospectus or a portion of one] that contains a presentation regarding an offering by one or more members of the issuer's management and includes discussion of one or more of the issuer, such management, and the securities being offered. Typically, a road show is a series of meetings across different cities, often before an IPO, in which top executives from a company have the opportunity to talk with current or potential investors.) Prescribes a grace period during which an issuer that was an EGC at the time it filed a confidential registration statement for confidential SEC review, but is no longer one, shall continue to be treated as one. Authorizes an EGC, within one year of its IPO, to submit confidentially to the SEC a draft registration statement for any securities to be issued subsequent to its IPO (follow-on offerings) for confidential nonpublic review by SEC staff before publicly filing a registration statement, if the initial confidential submission, including amendments, is publicly filed with the SEC within two days before it issues those follow-on offerings. Amends the Jumpstart Our Business Startups Act to direct the SEC to revise its general instructions on Form S-1 to prescribe conditions under which a registration statement that is filed by an issuer (or submitted for confidential review) before its IPO may omit financial disclosure information for historical periods otherwise required.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Ordered to be Reported (Amended) by the Yeas and Nays: 56 - 0. (on 03/14/2014)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
---|---|
State Bill Page | https://www.congress.gov/bill/113th-congress/house-bill/3623/all-info |
BillText | http://gpo.gov/fdsys/pkg/BILLS-113hr3623ih/pdf/BILLS-113hr3623ih.pdf |
Bill | http://gpo.gov/fdsys/pkg/BILLS-113hr3623ih/pdf/BILLS-113hr3623ih.pdf.pdf |
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