H.R. 4430

119th CONGRESS 1st Session

To lower the aggregate market value of voting and non-voting common equity necessary for an issuer to qualify as a well-known seasoned issuer.

IN THE HOUSE OF REPRESENTATIVES · July 16, 2025 · Sponsor: Mr. Steil · Committee: Committee on Financial Services

Table of contents

• H.R. 4430
  • SEC. 1. Definition of well-known seasoned issuer

SEC. 1. Definition of well-known seasoned issuer

• For purposes of the Federal securities laws, and regulations issued thereunder, an issuer shall be a if— well-known seasoned issuer
  • the aggregate market value of the voting and non-voting common equity held by non-affiliates of the issuer is $75,000,000 or more (as determined under Form S–3 general instruction I.B.1. as in effect on the date of enactment of this Act); and
  • the issuer otherwise satisfies the requirements of the definition of contained in section 230.405 of title 17, Code of Federal Regulations (as in effect on the date of enactment of this Act) without reference to any requirement in such definition relating to minimum worldwide market value of outstanding voting and non-voting common equity held by non-affiliates. well-known seasoned issuer