Lowers the equity value threshold for companies to qualify as well-known seasoned issuers.
The Expanding WKSI Eligibility Act modifies the criteria for a company to be classified as a well-known seasoned issuer under federal securities laws. It reduces the required aggregate market value of voting and non-voting common equity held by non-affiliates from $700,000,000 to $400,000,000. The Securities and Exchange Commission must report annually on the number of applications submitted for well-known seasoned issuer status.
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