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SEC extends non-public, pre-IPO filings to all companies

Joe Mont | June 30, 2017

In an effort to encourage more public offerings, the Securities and Exchange Commission announced that it will extend a benefit for emerging growth companies to all enterprises.

The Division of Corporation Finance will permit all companies, on a voluntary basis, to submit draft registration statements relating to initial public offerings for review on a non-public basis. The process will be available for IPOs as well as most offerings made in the first year after a company has entered the public reporting system. It will take effect on July 10, 2017.

“This is an important step in our efforts to foster capital formation, provide investment opportunities, and protect investors,” Director of the Division of Corporation Finance Bill Hinman, said in a June 30 statement. “This process makes it easier for more companies to enter and participate in our public...

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