• SEC Expands “Smaller Reporting Company” Eligibility
  • July 26, 2018 | Author: Drew M. Altman
  • Law Firm: Greenberg Traurig, LLP - Miami Office
  • On June 28, 2018, the SEC adopted amendments to the definition of “smaller reporting company” that are “intended to reduce compliance costs for these registrants and promote capital formation, while maintaining appropriate investor protections.” Specifically, a company can now claim to be a “smaller reporting company” if the company (1) has a “public float” of less than $250 million (an increase from $75 million), calculated as of the last day of its most recently completed second fiscal quarter; or (2) has less than $100 million in annual revenue (an increase from $50 million) and either has no public float or a public float of less than $700 million.