Analysis

'Testing The Waters' Expansion Could Make IPOs Easier

Law360 (April 30, 2018, 9:40 PM EDT) -- If the U.S. Securities and Exchange Commission relaxes restrictions on company communications prior to initial public offerings to a wider group of companies — a perk currently limited to smaller firms — capital markets attorneys say more large companies would welcome the freedom to test the IPO waters.

SEC Director of Corporation Finance Bill Hinman told a congressional committee last Thursday that the agency is planning to broaden "testing the waters" benefits to all companies planning an IPO, instead of so-called "emerging growth companies" who were the targeted beneficiaries of the Jumpstart Our Business Startups Act, a 2012 piece of legislation...

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