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Adds a rule that lets an issuer who already has a qualified exempt offering treat an additional, substantially similar exempt class of securities as qualified immediately when the issuer files an offering statement for that new class, provided certain conditions are met. The conditions require each additional class to be substantially similar with specified characteristics, each class’s offering amount to be under $5,000,000, and the total offered in the prior 12 months (under this new rule) to stay within the aggregate limit already set elsewhere in Section 3(b).
Referred to the House Committee on Financial Services.
Introduced May 1, 2025 by Garland H. Barr · Last progress May 1, 2025