Tuesday, December 11, 2007
The SEC today adopted amendments to Form S-3 and Form F-3 that will permit smaller public companies (below a $75 million public float) to use shelf registrations, so long as they do not offer securities worth more than one-third of their public float (up from the 20% in the original proposal). Shell companies, chronic late filers, and companies not listed on an exchange are not eligible. It is expected that about 1400 companies will be able to take advantage of the amendment. CFO.com, The SEC Wraps a Small-Biz Gift.