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House Bill 4430
119th Congress(2025-2026)
Expanding WKSI Eligibility Act
Introduced
Introduced
Introduced in House on Jul 16, 2025
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H. R. 4430 (Introduced-in-House)


119th CONGRESS
1st Session
H. R. 4430


To lower the aggregate market value of voting and non-voting common equity necessary for an issuer to qualify as a well-known seasoned issuer.

IN THE HOUSE OF REPRESENTATIVES

July 16, 2025

Mr. Steil introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To lower the aggregate market value of voting and non-voting common equity necessary for an issuer to qualify as a well-known seasoned issuer.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Definition of well-known seasoned issuer.

For purposes of the Federal securities laws, and regulations issued thereunder, an issuer shall be a “well-known seasoned issuer” if—

(1) the aggregate market value of the voting and non-voting common equity held by non-affiliates of the issuer is $75,000,000 or more (as determined under Form S–3 general instruction I.B.1. as in effect on the date of enactment of this Act); and

(2) the issuer otherwise satisfies the requirements of the definition of “well-known seasoned issuer” contained in section 230.405 of title 17, Code of Federal Regulations (as in effect on the date of enactment of this Act) without reference to any requirement in such definition relating to minimum worldwide market value of outstanding voting and non-voting common equity held by non-affiliates.