H.R. 2793
Lets all companies use simplified IPO procedures like testing the waters and confidential filings.
Low confidence
AI scores averaged: +1 from typesafe:jev-1.13.0, +1 from claude-opus-5-5. Compare the models
Allows more pre-filing communications with investors before full public disclosure.
Low confidence
AI score: −1 from claude-opus-5-5. Compare the models
Encouraging Public Offerings Act of 2023 This bill provides statutory authority for all issuers of securities to use certain offering procedures that are available to emerging growth companies. Specifically, the bill allows under statute issuers of securities to communicate with potential investors to ascertain interest in a contemplated securities offering, either before or after the filing of a registration statement (i.e., test the waters ). Additionally, issuers are allowed under statute to submit a confidential draft registration statement to the Securities and Exchange Commission (SEC) for review prior to public filing or within one year after the initial public offering or registration (i.e., a follow-on offering ). If the SEC pursues further rulemaking to related to these provisions, the SEC must submit a report to Congress supporting the basis of the rulemaking.
Summary by the Congressional Research Service, passed house version.
On Motion to Suspend the Rules and Pass, as Amended, Jun 5, 2023 · Passed