Securities,
Corporate,
Administrative/Regulatory
Nov. 22, 2019
SEC rule aims to expand use of ‘test-the-waters’ communications
The Securities and Exchange Commission recently adopted previously proposed Rule 163B under the Securities Act of 1933, as amended, to expand the use of “test-the-waters” communications — which were previously available only to emerging growth companies and persons authorized to act on their behalf.
Michael L. Lawhead
Michael is a partner with the firm's Securities and Corporate Governance Practice Group, based in its Costa Mesa office.
On Sept. 25, the Securities and Exchange Commission adopted previously proposed Rule 163B under the Securities Act of 1933, as amended, to expand the use of "test-the-waters" (TTW) communications -- which were previously available only to emerging growth companies and persons authorized to act on their behalf -- to all issuers, regardless of size or reporting status, and persons authorized to act on their behalf. Rule 163B permits all issuers to engage in TTW communic...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In