SEC expands eligibility for use of Form S-3 and Form F-3
By Kenneth Mitchell-Phillips
Smaller reporting companies should have an easier time complying with reporting requirements from the Securities and Exchange Commission (the "SEC") in 2008. Prior to the new year, the SEC revised the rules governing eligibility to register offerings under the Securities Act using a short-form registration statement on Form S-3 or Form F-3. The result is certain domestic and foreign private issuers will be able to conduct primary securities offerings on these forms without regard to the size of their market capitalization. Essentially, the amendments should allow more companies to benefit from the greater flexibility in accessing the public securities market afforded by Form S-3 and Form F-3. The full text of the SEC’s adopting Release (Release No: 33-8878) concerning the amendments is available on the SEC website, www.sec.gov.
