Today, the SEC staff issued more Frequently Asked Questions (FAQs) on Title I of the JOBS Act, addressing questions relating to, among other topics:
- test-the-waters communications;
- the availability of the confidential submission process for an exchange offer or merger that constitutes an IPO of common equity securities;
- the required time periods for audited financial statements of companies acquired by EGCs;
- the required time periods for audited financial statements in IPOs of debt securities by EGCs;
- Form S-1 signature requirements; and
- the availability of EGC status to former reporting companies that are not currently required to file Exchange Act reports.