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SEC Adopts Amendments to Form S-3 and Form F-3
January 8, 2008 Full PDF
The SEC has adopted amendments to the eligibility requirements for registration statements on Form S-3 and Form F-3. These amendments are intended to allow smaller companies (companies with less than $75 million in public float) to benefit from the more flexible and efficient access to the public securities markets afforded by Form S-3 and Form F-3 without compromising investor protection. Under the revised forms, a registrant with listed securities will be able to conduct primary securities offerings on Form S-3 or Form F-3 (as applicable) without regard to the size of its public float or debt ratings, as long as it does not sell securities (debt and equity) with a value of more than the equivalent of one-third of its public float in primary offerings during any rolling period of 12 calendar months and meets the other form requirements. The amendments will become effective on January 28, 2008.