S. 2347 · 115th Congress
Encouraging Public Offerings Act of 2018
- Stage
- In committee
- Sponsor
- Thom Tillis
- Introduced
- 2018-01-25
- Latest action
- 2018-06-26 · Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-354.
Summary
Encouraging Public Offerings Act of 2018
This bill amends the Securities Act of 1933 to allow an issuer of securities to communicate with potential investors to ascertain interest in a contemplated securities offering, either before or after the filing of a registration statement (i.e., "test the waters"). Under current law, only emerging growth companies may engage in such communications.
The bill also allows an issuer to submit a confidential draft registration statement to the Securities and Exchange Commission for review prior to public filing or within one year after the initial public offering or registration.