Top Summary
The *Encouraging Public Offerings Act of 2025* (H.R.3381) grants statutory authority to all securities issuers to utilize procedures previously reserved for emerging growth companies, such as "testing the waters" by communicating with potential investors to gauge interest in a securities offering before or after filing a registration statement. It also allows issuers to submit confidential draft registration statements to the Securities and Exchange Commission (SEC) for review prior to public filing, facilitating smoother and more efficient processes for initial public offerings, initial registrations, or follow-on offerings.
Sub Summaries
- Expanding Testing the Waters Provisions to All Issuers: SEC Rulemaking and Congressional Reporting Requirements Under the Securities Act of 1933
- Bill Amends Securities Act of 1933 to Allow Confidential Submission of Draft Registration Statements with Public Disclosure Deadlines, Passed by House on June 23, 2025.