The Securities and Exchange Commission has voted to adopt amendments to the definitions of “accelerated filer” and “large accelerated filer” in the Exchange Act, revisions that would exclude issuers that are both eligible to be a “smaller reporting company” and have less than $100 million in annual revenues.
The amendments are intended to provide relief to smaller issuers and reduce cost for certain public companies, which effectiveness may encourage more companies to go public. The public float initial thresholds to qualify as an accelerated or large accelerated filer, however, are not changing.
