118th Congress > House > Vote 244

Date: June 05, 2023

Result: 384-13 (Passed)

Clerk session vote number: 245

Sponsor: WAGNER, Ann (R-MO)

Bill number: HR2793

Question: On Motion to Suspend the Rules and Pass, as Amended

Description: Encouraging Public Offerings Act

Bill summary:

Encouraging Public Offerings Act of 2023

This bill provides statutory authority for all issuers of securities to use certain offering procedures that are available to emerging growth companies.

Specifically, the bill allows under statute issuers 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).

Additionally, issuers are allowed under statute to submit a confidential draft registration statement to the Securities and Exchange Commission (SEC) for review prior to public filing or within one year after the initial public offering or registration (i.e., a follow-on offering).

If the SEC pursues further rulemaking to related to these provisions, the SEC must submit a report to Congress supporting the basis of the rulemaking.

Bill titles: To amend the Securities Act of 1933 to expand the ability to use testing the waters and confidential draft registration submissions, and for other purposes.

Links for more info on the vote: congress.gov

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