Publication

"SEC Amends Eligibility Requirements for Forms S-3 and F-3"

The Securities and Exchange Commission recently amended the eligibility requirements for Form S-3 and Form F-3 to eliminate the current requirement that an issuer registering a primary securities offering on these forms have a public float (a company’s total number of shares publicly owned and available for trading) of at least $75 million, subject to certain limitations. This Stroock Special Bulletin provides an overview of the amendments, which are designed to extend the benefits afforded by Forms S-3 and F-3 of increased flexibility and efficiency in accessing the securities markets to a larger class of issuers, while ensuring that the investing public has access to adequate information about such issuers. The amendments become effective on January 28, 2008.